”Black Friday” Catches on in Latin America

Though Thanksgiving is not a typical holiday in Latin America, numerous retailers in the region have adopted the ”Black Friday” custom of enticing shoppers by offering them items at very low prices.

Retailers in several Central American countries, for example, have chosen this weekend to offer discounts of up to 70% off in their stores and the Nicaraguan Chamber of Commerce is anticipating some $12 million in sales between today and Sunday. 

Businesses in Mexico offered deeply discounted items on sale between November 15 and 18, which was dubbed locally as “The Good Weekend” (“El Buen Fin”).  According to the country’s National Chamber of Commerce, approximately $13.2 million in sales were made in Mexico during the event and this was a better-than-expected 20% increase compared to the same period last year.

Aside from department stores have slashing prices today, a few Colombian shopping malls have organized events like fashion shows and concerts hosted by popular comedians as ways to lure consumers.

In El Salvador and Panama, thousands of consumers camped outside of stores on Thursday evening in order to be among the first to enter the stores at the early morning hours today.  This was also the case in Puerto Rico where the Friday after Thanksgiving is nicknamed “The Saels to the Early Birds” (“Las Ventas al Madrugador”).

The appeal of “Black Friday” also attracted thousands of Mexicans to wait on lengthy lines in order to cross the border and shop at U.S. stores.
 
“The wait is worth it.  I saw a doll in a Mexicali store and it cost 520 pesos ($39.65) but in Calexico the same one is being sold at half-price,” said Baja California resident Raquel Mendívil.  “I’m returning to the store hoping the doll is so discounted that they’re practically giving it away for free!” he jokingly added.

Unfortunately, some of the problems related to “Black Friday” in the U.S. have also occurred in Latin America.  For example: