November 25, 2012 / 11:29 PM / 8 years ago

Mexico "Buen Fin" sales up by nearly a third

MEXICO CITY (Reuters) - Retail sales during Mexico’s “Buen Fin” campaign at stores that have been open for at least a year rose nearly 30 percent over last year, on strong sales of general merchandise, clothes and shoes, a retailers’ association said on Sunday.

“Buen Fin,” which took place from November 16-19, is a campaign to boost consumer spending that was launched in 2011 with government and private sector support.

It is modeled on the United States’ “Black Friday,” which is the day after the U.S. Thanksgiving holiday in November and aims to draw shoppers with discounts before the gift-giving Christmas holiday.

According to a survey by the National Association of Supermarkets and Department (ANTAD), Mexican consumers spent $25.5 billion pesos during this year’s campaign.

This year’s take represents a 29.9 percent increase over last year for stores that have been open for at least 12 months, and a 36.5 percent increase for stores over all.

While the global slowdown has begun to drag on some sectors of Mexico’s economy, consumer spending has shown strength.

Mexican retail sales rose more than expected in September, damping fears that a spike in inflation might drag down consumer spending.

Mexican consumer confidence also rebounded in October after slumping for two months.

ANTAD is made up of about 100 of the country’s largest retailers, including Wal-Mart’s Mexican subsidiary, Wal-Mex WALMEXV.MX, Soriana (SORIANAB.MX) and Chedraui (CHDRAUIB.MX).

Reporting by Alexandra Alper; Editing by Jackie frank

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