Every years thousands of Mexicans cross the border to take advantage of Black Friday sales in the U.S. But as Mexico’s peso hits record lows, many Mexicans may find it better to home to get better deals.
CCTV’s Martin Markovits reports. Follow Martin Markovits on Twitter @MartinMarkovits
Mexican retailers try to lure Americans for Black Friday dealsEvery years thousands of Mexicans cross the border to take advantage of Black Friday sales in the U.S. But as Mexico’s peso hits record lows, many Mexicans may find it better to home to get better deals. CCTV’s Martin Markovits reports.
Crossing the Mexico-U.S. border is a Thanksgiving tradition Adolfo Coronado does every year. Traveling from Ciudad Juarez to El Paso, Coronado takes advantage of the Black Friday deals that he said are so hard to find in his own country.
Back in Mexico, retailers are trying to lure both Mexican and American consumers to do their holiday shopping in Mexico.
For the last four years, Mexican retailers have been offering their own version of Black Friday called El Buen Fin-the weekend before the U.S. version.
El Buen Fin means the “The Good Weekend”-and for consumers here it is. The National Chamber of Commerce of Juarez said thousands of local and national retailers are offering up to 60 percent discounts this year.
Exchange rates make the discounts even deeper. The Mexican peso is trading around 20 or 21 pesos per dollar and that could lure U.S. bargain hunters south of the border.
Here at the outlet shops in El Paso, Black Friday customers told us crowds were noticeably smaller compared to the year before.
Online shopping has shrunk Black Friday crowds, too. But here in Mexico, the trend has been in the other direction.
With the dollar poised to get even stronger – if the Fed raises rates in December – Mexican retailers could give their U.S. counterparts some serious competition featuring the busiest shopping season of the year.
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