Buen Fin 2022 Boosts Business Spending as Clara Registers an 88.4% Increase in Online Purchases

• Total business spending increased 40.7% during Buen Fin, while 32.1% of companies recorded higher spending in digital commerce.
• The increase in purchase value in categories such as electronics exceeded 224% compared with the average of the previous month's weekends.

Clara, the most complete Latin American platform for digital business spend management, has registered a significant increase in companies' total purchase value during the 2022 edition of El Buen Fin in Mexico.

According to data recorded by more than 6,000 companies using Clara, the average company spending on online purchases showed an increase of 88% compared with the average of the previous month's weekends, and 51% compared with the immediately preceding weekend, in terms of total purchase value.

Based on data from Clara's platform, the spending categories in which Buen Fin stimulated the largest increase in companies' total purchase value were: electronics (224%), followed by retail (76%), textiles (69%) and travel and lodging (21%). Some of these increases may be related to the purchase of Christmas gifts for companies' customers and employees, as well as the recovery the tourism sector has experienced in recent months thanks to the reactivation of business travel.

During the four days of the 2022 edition of Buen Fin, MXN$41,644 million was collected in Mexico City alone, 7.3% more than the previous year's edition, according to data from the Chamber of Commerce, Services and Tourism (Canaco). The special discounts applied to categories such as electronics had a significant impact, together with the positive effect of lifting COVID-19 health restrictions on travel and lodging.

Another relevant factor explaining this increase is the availability of favorable credit options for both companies and consumers. According to the purchase intention study by the Mexican Association of Online Sales (AMVO), 81% of consumers declared their intention to take advantage of this discount season using their credit card, 18% more than last year.

According to Andreas Waldmann, Chief Marketing Officer at Clara: “The most important thing about these purchasing behaviors is that they allow us to obtain relevant information to continue developing products tailored to the real needs of companies. In this way, we contribute to their growth by granting better financing options and the best digital tools for corporate spend management,” concluded the executive.