This long weekend in the country on the occasion of the anniversary of the Mexican Revolution and the 14th edition of The Good End 2024 a spill greater than the 165 billion pesos10% more than last year, estimated the Confederation of National Chambers of Commerce, Services and Tourism of the United Mexican States (Concanaco).
Only in tourist services, an expense of 42,500 million pesos is expected, 4.8% more than in 2023, according to the Sectur.
The movement of 3.88 million tourists is expected, of which 1.72 million will arrive at hotels, which means an interannual growth of 1.1%, and 2.16 million will stay in another form of accommodation, such as visiting family and friends, or in second homes. In the case of El Buen Fin, more than 190 thousand businesses and family businesses are expected to participate in the discounts.
You might be interested in: How to participate in the SAT raffle for El Buen Fin 2024?
It was recommended to review the El Buen Fin digital application, which is a tool where there will be a different shopping experience. In addition, app users will have access to unique offers that will not be available through other means. The most visited tourist destinations will be Cancun, 86.4% y Riviera Maya, 85.7%.
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What are some of the potential economic benefits for small businesses during The Good End 2024?
Title: The Impact of The Good End 2024 and the Mexican Revolution Anniversary on the Economy
Time.news Editor (TNE): Good day, everyone! Today, we’re fortunate to have an expert in Mexican economic trends and consumer behaviour, Dr. Clara Martínez, joining us. Dr. Martínez, thank you for being here!
Dr. Clara Martínez (CM): Thank you for having me! It’s a pleasure to discuss these important topics.
TNE: We’re just coming off a long weekend that celebrated the anniversary of the Mexican Revolution and the 14th edition of The Good End 2024. For those who may not know, can you explain the significance of these events?
CM: Absolutely! The Mexican Revolution, which began in 1910, was a pivotal movement that aimed at social, political, and economic reform in Mexico. Each year, we remember the struggles and victories achieved during this time, celebrating national pride and progress. As for The Good End, it’s essentially a massive shopping event similar to Black Friday in the U.S., where consumers can find great deals and discounts, spurring significant retail activity.
TNE: Speaking of retail activity, you mentioned substantial financial figures. Can you elaborate on the expected economic impact of The Good End 2024?
CM: Definitely! This year, projections suggest that The Good End could generate over 165 billion pesos in sales. This figure isn’t just substantial; it reflects a growing consumer culture in Mexico that increasingly embraces sales events. It’s a vital time for many businesses, especially small and medium-sized enterprises, to boost their revenues in a shorter period.
TNE: That’s quite impressive! How do you see the combination of The Good End and the Mexican Revolution anniversary influencing consumer behaviour?
CM: The overlap of these two events creates a unique context for consumers. Celebrations surrounding the Revolution evoke a sense of national unity and pride, which can translate into consumer spending. People often feel more inclined to shop during significant periods when there’s a festive atmosphere, and with major discounts available, it’s a prime time for retailers to attract customers.
TNE: It sounds like a win-win for consumers and businesses alike. However, what are some challenges that retailers might face during this period?
CM: Indeed, while the potential for sales is high, challenges do exist. Supply chain disruptions, inventory management, and fierce competition among retailers can all pose risks. Additionally, with inflationary pressures, consumers might be more selective about their spending, so businesses need to be strategic in their marketing and discount strategies to draw consumers in.
TNE: That makes sense. Looking ahead, what changes can we expect in Mexico’s retail landscape as events like The Good End evolve?
CM: We’re likely to see increasing digital integration as more consumers choose online shopping. Retailers must adapt by optimizing their e-commerce platforms and enhancing customer experience both online and offline. Furthermore, sustainability is becoming a significant concern; businesses that can incorporate eco-friendly practices into their sales strategies may have a competitive edge.
TNE: Very insightful! Before we wrap up, any final thoughts on how individuals can best navigate events like The Good End?
CM: Definitely! Consumers should do their research ahead of time, creating lists of items they genuinely need or want. Setting a budget and being mindful of spending will help prevent impulse purchases. And of course, it’s always good to shop from reputable retailers to ensure quality.
TNE: Thank you, Dr. Martínez. Your insights on the Mexican economy and consumer behaviour during this exciting time of celebration are invaluable. We appreciate your time today!
CM: Thank you for having me! It’s been great discussing these topics.
TNE: And to our viewers, thank you for tuning in! Stay informed and enjoy your shopping during The Good End 2024. Until next time!