El Buen Fin, Black Friday and Cyber Monday, collectively known as ‘Buen Black Cyber’, have established themselves as the most recognized year-end discount season among Mexican consumers.
According to the ‘Discount Seasons Study’ carried out by the consulting firm Ipsos to 2,000 people in June 2024, 98% of respondents recognize the Buen Fin, 71% identify Black Friday and 32% know Cyber Monday.
Beyond the high level of recognition, the study revealed solid expected participation: 60% for Buen Fin, 63% for Black Friday and 50% for Cyber Monday.
“It is not only that these dates are in the minds of consumers, but that they are actively used for the purchase of products and services. ‘Good Black Cyber’ offers an 18-day window where businesses can maximize public interest,” said Juan Vallejo, Retail Industry Leader at Google.
The analysis also showed that in 2023, participation exceeded expectations. According to those surveyed, more people made purchases during these dates than those who initially planned to do so, exceeding their previous intentions on average by 5 percentage points.
The study highlights that 7 out of 10 respondents stated that they began planning their purchases before these times. In the specific case of Buen Fin, there are people whose investigation begins up to 3 months before.
Mexican consumers focus their research on five main points before making a purchase during Buen Fin, Black Friday and Cyber Monday:
- Payment methods (46%)
- Product availability (41%)
- Price and discounts (40%)
- Product comparison (39%)
- Shipping method (37%)
Planning and research
The report highlights the importance of the prior research stage that consumers carry out before discount seasons. Seven out of ten respondents indicated that they begin to plan their purchases in advance, and some consumers begin searching for information up to three months before the Buen Fin.
Mexican consumers focus their research on five key aspects before deciding to purchase: payment methods (46%), product availability (41%), prices and discounts (40%), product comparison (39%) and purchase methods. shipping (37%). In this process, both Google search and YouTube play a fundamental role. Google is the preferred tool for comparing prices, checking product price history, and comparing features, while YouTube allows users to see products in action, understand their functionality, and learn about brand reputations.
“Companies that develop solid strategies that capture consumers’ attention in advance and are present in their consultation and research channels will have a competitive advantage. In addition, those that integrate advertising solutions based on AI will be able to stand out during these dates,” added Vallejo.
New AI tools for retailers
Google will launch three powerful tools before the end of the year to help retailers, regardless of their size, optimize their creativity and strengthen their connection with consumers:
Product Studio– Now available in Spanish in Mexico, this free AI tool allows brands to enhance and create high-quality images of their products, generating scenarios, improving resolution and editing backgrounds for a professional look. It also makes it easy to create videos, allowing teams to focus their efforts on strategy and growing their businesses.
Conversational experience in Google Ads– Designed to simplify the creation of digital campaigns, this feature combines business expertise with Google AI, generating keywords and ad content, including titles, descriptions, images and links.
Image Power 3 for Performance Max– An update to Google’s campaign automation solution that allows you to create multiple versions of video ads tailored to different formats and durations. Image 3, Google’s most advanced text-to-image conversion model, improves the visual quality of ads, maximizing the impact and performance of campaigns.
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