In 2023, 60 out of every 100 online purchases made by Mexicans were placed during the “Buen Fin” (the Mexican Black Friday season).
Similar to China’s Singles’ Day, El Buen Fin, Black Friday, and Cyber Monday are Latin America’s major year-end discount seasons—highly anticipated by consumers across the region (see Figure 1). According to the latest survey by Elogia, 87.3% of Mexican internet users plan to shop during this year’s El Buen Fin event (see Figure 2). Observing Latin American consumer habits, Michel, an employee at NOCNOC, the all-in-one solution for Chinese brands to expand into Latin America, noted that consumers in the region typically plan their shopping lists a month or more in advance, specifically waiting for Black Friday sales to make major purchases of large items, electronics, or home goods. During Black Friday, e-commerce sales in Brazil can surge by as much as 300%, with more than 90% of consumers engaging in shopping.
Figure 1: Brazil, Black Friday. Source: Diário do Estado
Figure 2: The 2024 Buen Fin promotion starts with a pre-sale on November 4 and officially begins on November 15.
What are Latin Americans buying, and what are the market trends? How can businesses prepare for Black Friday?
Through interviews with executives from cross-border e-commerce platforms and Latin American consumers, EqualOcean’s Latin America analyst has identified several key trends and insights.
Trend 1: Electronics, home goods, and fashion are the top choices
According to observations by Mercado Libre’s China regional manager, the demand for electronics, home products, and fashion items in the Latin American market remains high. For example, electronics account for nearly 30% of cross-border e-commerce sales in Brazil, with smartphones, wireless earphones, and smartwatches being particularly popular due to their combination of affordability and quality. These products not only meet everyday needs but also appeal to consumers because of their advanced technology, multifunctionality, and stylish designs, making them "must-have" items for many Brazilian consumers.
Home goods and fashion items also account for around 20% of the market share in Brazil, with these categories appealing to a wide demographic—from young people to families—due to their innovative designs and affordable prices.
Mexico’s market is similar, with electronics and fashion items leading the demand, accounting for 28% and 22% of sales, respectively. Mexico’s younger generation, in particular, shows a strong preference for fashion items. Over 65% of Mexican consumers prioritize well-known brands when buying these products, showing a high reliance on brand reputation.
Brand preferences in Latin America are shifting. Historically, Latin American consumers have leaned towards U.S. brands for electronics and home goods, due to geographic proximity. However, in recent years, an increasing number of Chinese brands have entered the Latin American market, and “Made in China” products are gaining recognition for their practicality and innovation. In particular, Chinese brands like Huawei and Xiaomi are attracting loyal customers with competitive pricing and advanced technology. What was once considered a “second choice” is gradually becoming Latin American consumers' “trusted, high-cost performance first choice,” particularly in the consumer electronics sector (see Figure 2).
Figure 3: Latin American people hold a more favorable attitude towards Chinese products, brands, and their various impacts, including trade, culture, etc.
Trend 2: From electronics to auto parts—China's high-value products are gaining traction in Latin America
A 2018 UPS survey found that 78% of Mexican consumers purchased goods from the U.S., with 73% of those purchases coming from American retailers. The same survey found that Mexican consumers were willing to wait 5 days for paid shipping and 8 days for free shipping. According to Kantar’s research, between 2022 and 2023, over 65% of Mexican consumers tended to buy from well-known brands when shopping cross-border, with price sensitivity also being high.
However, Latin American shopping habits are undergoing a subtle shift. Michel, a Brazilian living in Shenzhen, China, has witnessed the rise of Chinese brands over recent years. He believes that quality has become the true competitive advantage for Chinese brands. For instance, he recently purchased a Chinese perfume brand, Guangxia, where a 100ml bottle priced at around 800 RMB (about $120 USD) is much cheaper than European brands, yet the fragrance’s complexity and longevity rival high-end French brands like Chanel and Dior. Michel noted that many Latin Americans now view Chinese products as having significantly improved in quality, moving beyond the old stereotype that “cheap means poor quality.”
In addition to everyday products with high cost-performance, Chinese consumer electronics brands are also making waves with their technological innovations. For example, Michel owns a Chinese robotic vacuum cleaner, which not only vacuums and mops, but also sterilizes with water heated to 200°C, achieving excellent cleaning results. In Brazil, similar Western brand smart appliances cost hundreds of dollars, whereas Chinese counterparts offer the same functions at much more affordable prices.
In Brazil, a Chinese Amazfit smartwatch, priced between $50 to $200, is considered “mid to high-end” by local standards. Thanks to its quality technology, it has successfully become one of the most popular smartwatch brands in the country (see Figure 3). Compared to local competitors, Amazfit is around 20% cheaper, and with limited smartwatch options in Brazil, consumers are willing to wait 10 to 15 days for international shipping.
Other Chinese smartwatch brands like Mibro and Haylou have also gained recognition in Latin America, thanks to their advanced features (such as heart rate monitoring and health tracking). Despite their higher prices, these products are in high demand because local brands offer no similar alternatives.
Michel believes that in the Latin American market, high-quality, technologically innovative products—particularly those that launch new models regularly—are especially attractive to consumers. For younger generations, functionality and quality are often more important than price and brand.
Unlike the Chinese tendency to make one-time payments, installment payments are common in Latin America. In Brazil, 75% of consumers are accustomed to paying in up to six installments. Even for higher-priced, mid- to high-end products (like smartwatches), many consumers are willing to use installment plans to enjoy the convenience of technology in advance. This payment model has accelerated the adoption of high-quality tech products across Latin America. Brands like Amazfit, Mibro, and Haylou have successfully reached not only higher-income but also lower-income groups. The availability of installment payment options has made these products accessible to a broader audience, increasing their market penetration.
Figure 4: Amazfit smartwatches are sold at mid-to-high-end prices on the Amazon platform. Image source: Amazon.
During major sales events like Black Friday and Cyber Monday, Latin American consumers tend to focus on discounts, product quality, and shipping speed. Large discounts, free shipping, and limited-time offers significantly increase conversion rates. Mercado Libre data shows that Brazilian consumers are especially responsive to bundle sales and free shipping, with sales during promotional periods increasing by around 50%. Limited-time discounts are particularly effective for electronics and home goods. Meanwhile, in Mexico, sales during Black Friday and Cyber Monday increased by about 65% year-on-year. Mexican consumers are especially drawn to large discounts and free shipping, with around 70% preferring products that offer significant discounts, particularly “Buy One, Get One Free” or “Second Item 50% Off” deals, which can boost sales by 1.5 times.
Trend 3: Preparing for Black Friday—Balancing logistics efficiency with price sensitivity
Many cross-border e-commerce platforms and Chinese merchants begin stocking up months in advance to prepare for Black Friday. Hot categories like electronics, home goods, fashion, and auto parts require merchants to collaborate closely with logistics companies 30 to 40 days ahead to ensure they don't run out of stock. For example, smartwatches and robotic vacuum cleaners usually see a huge spike in orders during Black Friday, so merchants often ship these products to local warehouses in Mexico three weeks in advance (see Figure 4). This enables products to be delivered within 24 to 48 hours when the Black Friday peak hits, greatly improving the customer shopping experience.
However, for merchants without local warehouses, the logistical pressure during Black Friday is even greater, particularly in Brazil, where customs clearance can be time-consuming. Typically, merchants will consolidate large shipments 15 days prior to Black Friday, working with platforms like Amazon, Temu, and Shein to optimize the logistics chain and ensure timely customs clearance and delivery. Due to the long cross-border shipping times, Brazilian consumers typically wait 10 to 15 days to receive their products. This early shipping strategy helps avoid logistics congestion during peak order periods, reducing waiting times for consumers.
The Mercado Libre China regional manager believes that having local warehouses in markets like Brazil and Mexico offers a significant logistics advantage. Shipping directly from China typically takes 15 to 30 days, whereas local warehouses can shorten delivery times to just 1 to 5 days and reduce logistics costs by around 30%. While the annual operating cost of local warehouses in Brazil is as high as $1 million, for high-volume merchants, these costs are offset by saved logistics expenses and faster delivery. In Mexico, warehouse costs are lower, around $800,000 per year, and logistics costs are also lower, offering particular advantages for bulky items.
However, logistics are not the sole determining factor. In the Latin American market, price and logistics speed are often balanced in a "tug-of-war." Latin American consumers are highly price-sensitive, especially during promotional seasons like Black Friday. When the price advantage is significant enough, consumers are generally more forgiving of longer delivery times. For Brazilian consumers, if cross-border products are at least 20% cheaper than local alternatives, they are willing to accept a delivery time of 10 to 15 days, or even longer. This tolerance for longer delivery times is largely driven by price—if the price is attractive enough, consumers tend to "turn a blind eye" to longer shipping periods.
Figure 5: Chinese merchants build large overseas warehouses in Mexico. Source: NaiMexico.
Conclusion
To succeed in the Latin American market, businesses must focus on key factors such as product innovation, price competitiveness, installment payment options, and logistics efficiency. Offering high-quality tech products and home goods that appeal to consumers, while providing flexible installment plans, will make it easier for more people to access these innovations. Preparing in advance for Black Friday, optimizing logistics through local warehouses, and using price advantages strategically will help build deep connections with Latin American consumers. Chinese brands can move beyond being seen as an alternative and become trusted, preferred choices in the Latin American market.