The end of the sanitary restrictions, rising consumption levels and the guaranteed supply drive the “Good end“, event similar to “black friday“, as the decisive commercial party for the economic recovery of the end of 2022 in Mexico despite inflation.
In an interview, the president of the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur)Hector Tejada, affirmed that he expects an economic benefit of more than 195,000 million pesos between November 18 and 21.
The leader of the confederation, which represents 255 chambers of the tertiary sector and contributes more than 50% of the Mexican gross domestic product (GDP).recalled that the “Good End” was born in 2011 with only four days and since then exceeds consumption goals year after year.
However, its format was changed to 12 days due to the arrival of the pandemic, in 2020, and to seven in 2021, due to the reduction in store capacity and the need to extend this event.
Today in our country we do not have any issue in any state that we are aware of capacity restrictions. For this reason, the ‘Good End’ returns to its original four days. We have a great challenge, ”he celebrated.
Companies trust that the sending of remittances and the creation of formal jobs ‘pay’ for the promotions of the event
High inflation in Mexico, which fell to 8.41% at the end of Octoberis an indicator that the pockets of Mexicans suffer.
But the president of Concanaco Servytur ruled out this effect and, on the contrary, maintained that “This ‘Good End’ will have the opportunity to give Mexicans products at more affordable prices.”
In addition, he trusted in an economy that has high levels of formal employment, with the creation of more than 1 million positions so far this yearaccording to official figures.
It might interest you: Do you get caught up in the Good End offers? Tips to evaluate if a promotion is really convenient
He said that another factor is the historical remittances that arrive in the country and that allow Mexicans to have money to make purchases, as well as the guaranteed supply of all products, goods and services.
According to official data, domestic consumption in Mexico added three months of sustained growth until August, after a fall in May that broke its recovery streak since October 2021.
Meanwhile, the manufacturing activity indicator showed a rise in the production of clothing, electronic products, computers and furniture until September.
The latest BBVA report “Banking Outlook” indicates higher consumption, although this reduces the savings generated by Mexicans in the pandemic.
In turn, this higher level of consumption and economic activity in general have motivated a greater demand for credit,” the analysis pointed out.
credit risk
In this sense, Ignacio Martínez, coordinator of the Laboratory of Analysis in Commerce, Economy and Business (Lacen) of the National Autonomous University of Mexico (UNAM), considered that the most dangerous thing for Mexican consumers is not keeping good control of credit cards.
He recommended not abusing the price offers and months without interest, stressing that in the next 40 days consumers could reach the top of their cards.
According to Deloitte’s “Global Tracker of the State of Consumers”, 47% of Mexicans stated that they can spend on products that “bring them joy”, but only 32% are ready for unexpected higher spending in the future.
expected consumption
Data from the Waze application shows that businesses will receive more navigations during this “Good End”, as this shopping season represents the second highest peak of trips to retail stores of the year.
Although ‘e-commerce’ (electronic commerce) has rebounded in the last two years, the preferred purchase channel for Mexican buyers continues to be the physical store, so there will be a great economic deployment during these dates”, considered Ingrid Avilés , director of Waze in Mexico.
He said that in 2021 there was a 40% increase during this weekend of offers and detailed that the three most visited categories were department stores (85%), telecommunications (76%) and clothing and footwear stores (63%).
Mercado Libre, which participates online with more than 450,000 Mexican businesses, announced that it expects more than 27 million daily searches on its platform.
The company reported that the most successful categories in discount seasons are clothing and footwear, technology, mobile phones and accessories, household appliances, furniture, decoration and home, among others.
The last:
EFE International news agency based in Madrid and present in more than 110 countries.