The “Buen Fin” in Mexico will take place from November 16 to 19, 2012, an exact copy of the “Black Friday” of our northern neighbors and promoted jointly by both the Mexican Federal Government and private businesses.
With a completely different purchasing mood than last year, this 2012 version will be made during the festivities of November 20th and with several companies giving Christmas bonuses to their employees in advance.
Compared with the 178,000 companies that participated last year, it is interesting to note that thi year the official number of participating companies is around 200,000. The Buen Fin represents a showcase for companies to display their products and / or services.
Something that companies must be careful with, is the role of the consumer in the Buen Fin. Twelve months ago there were complaints in social networks about the lack of supply and poor quality of the promotions. Many reported that businesses had increased their prices only to reduce them during the weekend to give the impression of giving a discount.
Consumers are now much more alert and will demand a real discount on what they are buying. They now have powerful weapons such as social networks, smartphones and real-time recommendations from other customers, making it more difficult to get deceived.
In this 2012, commercial and government objectives are more ambitious. For example, the previous edition had sales of $106 million dollars. This year it is expected to exceed $150 million pesos.
However, despite all, the most redeemable of this weekend is the effort to communicate values ​​by the organizers. Any business can register and receive the benefit of using the official logo. By registering, companies are “pledged” to offer at least a 10% discount over the highest discount made last year or simply to offer the best offer of the best shown during the year.
For the sake of the Buen Fin and the reputation of the businesses, being at stake again, brands must put aside those terrible simulations and should invest in improving their offers significantly.
Jorge Chavez is Senior Editor at Mijo! Brands of Mexico.
Click here to read more current trends.
