El Buen Fin 2024, which will be held from November 15 to 18, plans to generate an economic impact of approximately 165.5 billion pesos, an increase of 10% compared to last year, according to data from the National Confederation of Chambers of Commerce. Services and Tourism (Concanaco Servytur).
In 2023, the event reported revenues of 150.5 billion pesos, driven by a growing consumption dynamic in Mexico, said Octavio de la Torre de Stéffano, president of Concanaco.
During the official launch conference, De la Torre highlighted that the increases in the minimum wage have encouraged consumer optimism, despite inflation, which in the first half of October stood at 4.69% annually, according to the National Institute of Statistics and Geography (Inegi).
This year, around 190,000 businesses are expected to participate, an increase of 6.74% compared to the 178,000 that participated in 2023. However, De la Torre warned that some businesses use the El Buen Fin 2024 logo without officially registering and invited formally established businesses to join the event.
Promotions and discounts
Consumers will be able to find discounts ranging from 20% to 70%, interest-free months and discount coupons, subject to the conditions of each business. In addition, De la Torre commented that many companies take advantage of this opportunity to offer unsold inventory products at lower prices.
Consumption preferences and promotion of Mexican products
Popular products include electronics, appliances, clothing, footwear and toys, while travel and local products will also be promoted this year. Concanaco Servytur has invited governors, secretaries of Economic Development and Tourism to promote the state brand distinctive to promote a “Buen Fin Mexicano”.
Impact of online commerce and insecurity challenges
While online commerce continues to gain popularity, De la Torre acknowledged that there are communities with limited access to digital platforms. Given this, he called to promote local consumption, which generates a positive impact on the development of these areas.
Regarding the challenges of insecurity in states such as Sinaloa and Michoacán, De la Torre stated that local Chambers of Commerce will actively participate, creating the necessary conditions for the reactivation of commerce and guaranteeing that consumers can enjoy the offers safely.
Finally, he recalled that El Buen Fin, which has been celebrated for 14 years, was born with the intention of encouraging local and family consumption, strengthening community economies throughout the country.
How to participate in the El Buen Fin 2024 Draw?
To enter the El Buen Fin 2024 draw, you only need to make a minimum purchase of 250 pesos with any of the participating debit or credit cards at the businesses registered in the program. The list of participating businesses is available on the official portal of El Buen Fin 2024.
Upon completing the purchase, you will be automatically entered into the draw. This year, 321,260 prizes ranging from 500 to 20,000 pesos will be distributed, in addition to a grand prize of 250,000 pesos. The amounts won will be deposited into the card with which the purchase was made.
How do businesses participate in the draw?
Businesses can also participate, as long as they register on the El Buen Fin portal, are up to date with their tax obligations, have an active Tax Mailbox, means of contact, income in 2023 less than or equal to 5 million pesos, a Terminal Active Point of Sale and make at least one sale of 250 pesos with a participating card. The registration deadline for businesses is November 14. Consumers do not need to meet this requirement.
How do I know if I won a prize from the El Buen Fin 2024 Draw?
The draw will be held on December 13, and the list of winners will be published three days later on the El Buen Fin Draw mini site and on the SAT page. Save the date and don’t miss the opportunity to participate to win one of the thousands of prizes.
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