So last week I heard the news about “El Buen Fin” (Meaning “The good weekend” which can also be understood as “The good purpose”) that’s taking place here in Mexico since the beginning of this weekend and up until tomorrow. What’s all the deal about? It’s basically the same as Black Friday: many stores give this extraordinarily crazy discounts on most of their goods and people shop away as much as they can! Still, I was confused.
– But wait… Isn’t Thanksgiving supposed to be next Thursday?
– Yeah, but el Buen Fin is THIS weekend!
-THE WHOLE WEEKEND? Wasn’t it supposed to be only on Friday?
– Yeah, but that’s in the United States, HERE it will be from the 18th to the 21st of November!
At first I thought I was being pranked, or that maybe some of it was true, but that it would be all the way until next friday, and only in the states that are closer to the border since Thanksgiving and Black Friday are two events that aren’t very common in the center/south of Mexico. Later on I was proved wrong by all the signs on the streets.
This is some pretty hardcore stuff! After seeing all the ads here I decided to look up some information on the Internet, and sure enough, the first thing that pops up when you type “El Buen Fin” is their very own (and pretty elaborate) website that apparently spawned overnight, as well as several news reports which indicate President Calderón himself twitted about El Buen Fin. So this Buen Fin thing is happening all over Mexico!
There is some serious money involved to set in motion such a huge strategy, and the list of organizers include the Federal Government, Mexico’s Bank Association, and CONCANACO (National Chamber of Commerce) just to name a few. The purpose of the Buen Fin according to their own site and the President is to activate the economy by encouraging shopping and at the same time, giving all the consumers the benefits of great deals for their money. This is supposed to be not only a one time thing, but a yearly tradition as Black Friday is in the United States.
How does it seem to be going this year?
Honestly, I don’t quite know. Yesterday we went to a shopping mall for a few groceries and the line at Wal-Mart was so ridiculously long we decided to just go to a small abarrote store, the whole shopping mall was overflowing with people. I guess it was the Buen Fin combined with the fact that is was also a saturday afternoon, but out of all those people how many of them are taking advantage of the discounts and how many simply felt like going to mall to watch a movie at the theatre is hard to tell. After all, although many stores seem to be offering huge discounts, this is basically something new in this country and it’s an event we weren’t really looking forward to earlier this year (because it didn’t exist!) so it sort of caught us unprepared, and also, it’s not a new thing for stores to announce discounts every few months that aren’t really that great, so I guess some of us are a little skeptical about it now. Anyway, since the Buen Fin is still in course, there haven’t been any news about sales increase, so we’ll have to wait and see 😉
Is this an effective strategy to activate the economy, or will it be cause trouble in the long run?
Something that we need to keep in mind is the fact that many electric appliances, telephones and cars tend to be pricier here than in comparison to the United States, and this is especially true for the states that are farthest away from the U.S. border, so we have the two sides of the coin: On one side, we will have extremely high discounts on many things that otherwise are quite expensive to purchase, but on the other side, this prices might still be to expensive for some of us to pay with cold hard cash, so many will resort to using a credit card or a loan, which might cause people to pay just as much on high interest rates, or even worse, get tangled with credit card debt.
Then another thing that pops to my head is, what will happen in subsequent years? This year the big discounts came by unexpected and some of us learned what this deal was all about on the very same day it started, and it seems it still managed to attract a lot of people, but if the plan for El Buen Fin is to make it a yearly tradition, us – and our wallets – will be ready by then, and so may be the chaos! I remember in 2008 when a Wal-Mart store employee was trampled to death on a Black Friday, and although this seems to be the only casualty so far, it is also known that things can get pretty crazy when everyone’s trying to score a great and inexpensive holiday present for their loved ones! But then again, in the United States the sales are held only for one Friday, so maybe if the Buen Fin sales spread out in three days people will be less rushed? I guess at this point all we can do is speculate and wonder what will the Buen Fin evolve into? Or will it be something that will it fade away?
Share your thoughts! Your comments and opinions are very welcome ;)!