The Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur) predicted that the amount for the next Three Kings’ Day will increase 10 percent.
The organization expects that the income from the sale of toys, bread and gifts to be delivered by Melchor, Gaspar and Baltazar will total 24.2 billion pesos.
“This projection reflects the dynamism and resilience of commerce in Mexico, especially on a date as emblematic as Three Kings Day, which boosts millions of companies and families,” said Octavio de la Torre, president of Concanaco Servitur, in a release.
The businessman said that it is estimated that 2.8 million family businesses in the commerce sector will see a positive impact on the sale of toys, electronics, fashion, personal care and bakery.
Toys continue to be the most in demand, followed by electronics, such as video games, tablets, cell phones, consoles and computers.
There is also a high demand for fashion and personal care, such as perfumes, clothing and footwear.
More than 70 thousand establishments dedicated to baking, along with wholesale and retail businesses, will benefit from the sale of the bagel.
Every January 6, the tradition of Three Kings’ Day fills the homes of Mexico with excitement, with 36.3 million girls and boys awaiting the arrival of Melchor, Gaspar and Baltazar, according to the INEGI.
According to the confederation, there is sustained growth in the economic benefit of Three Kings’ Day, after a 2021 where there was a sharp drop due to the Covid-19 pandemic.
In 2022 sales were 17 billion pesos and in 2023 there was a spill of 20 billion pesos.
“This growth shows that Mexican families keep this tradition alive, adapting to new consumer trends, which include electronic purchases and innovative products,” he noted.
The organization reiterated its commitment to strengthening the trade sector and promoting traditions that contribute to the economic development of the country.
“Three Kings’ Day is not only a day of excitement for children, but also an opportunity for commerce to boost its activity, benefiting millions of Mexican families,” concluded Octavio de la Torre.
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