El Buen Fin facts for kids

El Buen Fin (which means "The Good Weekend") is a big shopping event that happens every year in Mexico. It started in 2011. This event takes place on the weekend right before Mexican Revolution Day. That holiday is always on the third Monday of November. During El Buen Fin, many stores stay open longer and offer special deals. These deals can include easier ways to pay over time or lower prices.

The main goal of El Buen Fin is to help the country's economy. It encourages people to buy more things. It also aims to make life better for people by offering good deals and discounts. The idea for El Buen Fin came from the American shopping day called Black Friday. It was created by a group of businesses and the Mexican government working together.

History of El Buen Fin

When El Buen Fin first started, Mexican President Felipe Calderón thought it would help protect Mexico's economy. He believed it could make the country stronger against money problems happening in Europe and the US.

Many different groups help organize this event every year. These include:

• The Association of Banks in Mexico
• The Mexican Internet Association
• The National Association of Supermarkets and Department Stores (ANTAD)
• The Council of Business Coordinators
• The Bosses Confederation of the Mexican Republic (COPARMEX)
• The Confederation of National Chambers of Trade, Services and Tourism (Concanaco Servytur)
• The Confederation of Industrial Chambers of the United States of Mexico (CONCAMIN)
• And Iniciativa México, all working with the Mexican government.

Since 2011, stores have advertised El Buen Fin as the best time to buy things. However, some people have different opinions. Critics say that many of the deals are not true discounts. Instead, they are often offers like paying in monthly installments. Or they might be "buy two, get one free" deals. Sometimes, stores offer credit, like "get $300 back for every $1000 you spend." These types of deals can cause people to go into debt.

For example, a group called El Poder del Consumidor (which means "The Power of the Consumer") has said this event leads more Mexicans to use credit cards and get into debt.

On the other hand, some stores see El Buen Fin as a great chance to attract shoppers from North America. This is especially true for stores in border cities like Tijuana, Ciudad Juárez, or Reynosa. Stores in cities like Monterrey also hope to attract shoppers from South Texas and the Rio Grande Valley. This is because El Buen Fin happens a week or two before the US Black Friday.

In 2019, sales during El Buen Fin reached about $118 billion Mexican pesos. More than 115,000 businesses took part in the event that year. In 2020, El Buen Fin was held from November 9 to November 20.

See also

In Spanish: El Buen Fin para niños