Sunday, June 16, 2024

Toy sellers and bakeries expect windfall from Three Kings’ Day

Toy stores and bakeries expect a 10% increase in sales for the celebration of Three Kings’ Day (Día de los Reyes Magos) on Saturday, according to the president of the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur).

Héctor Tejada Shaar predicted total revenue of 22 billion pesos (US $1.3 billion) from this year’s festivities, up from 20 billion pesos (US $1.18 billion) in 2023. The commerce, services and tourism sectors are expected to be the biggest winners.

Three Kings’ Day is traditionally a day for gift giving, in recognition of the gifts brought by the Three Kings. (Andrea Murcia/Cuartoscuro)

Three Kings’ Day, also known as Epiphany, is a traditional Catholic holiday held on Jan. 6, which celebrates the arrival of the three wise men in Bethlehem to bring gifts of gold, frankincense and myrrh to the baby Jesus. In Mexico, it is celebrated by sharing a sweet, circular bread known as Rosca de Reyes. The oval shape of the bread symbolizes God’s eternal love, while the crystallized fruits on its surface symbolize the jewels in the crowns of the three kings.

A small doll is baked into the bread, representing how the holy family hid the baby Jesus from King Herod’s Massacre of the Innocents by fleeing to Egypt. In Mexico, whoever finds this doll must take care of it until Candlemas Day (Día de la Candelaria) on Feb. 2.

Thanks to this tradition, Mexico’s estimated 70,000 bakeries are the biggest economic winners from the holiday. The festival also sees increased demand for milk, chocolate and coffee to accompany the bread.

Many Mexican families also give gifts on Three Kings’ Day, particularly to children. This drives increased toy sales, as well as demand for electronic items, perfume, clothing and shoes.

Tejada celebrated the economic windfall for the sector, encouraging consumers to buy from the formal trade sector to stimulate the economy and obtain quality products.

“The commerce, services and tourism sector is the engine of the country’s growth and an ally in Mexico’s cultural richness, through traditions such as Three Kings’ Day,” he said.

 With reports from Forbes and Expansión

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