Variety Stores in Mexico

PROSPECTS

Making products available through credit drives growth in the channel

Several of the leading players in variety stores have traditionally focused their sales strategy on low- and middle- income consumers, which is in line with the population profile where their stores are located. Also, they have an aggressive strategy of offering credit schemes that make products with relatively high prices affordable by most customers.

Large store chains are making investments in omnichannel retailing

During 2018, several players carried out plans to increase their presence in omnichannel retailing, and some of them attribute their growth to their omnichannel strategies. Elektra is one of these – its omnichannel strategy has allowed the retailer to increase the portfolio of products offered.

Stores offer money transfer services

Several players in variety stores, including Coppel, Elektra and Waldos, offer money transfer services. These services contribute to customer traffic into stores, but also contribute to sales, as the people who visit the store for money transfers are likely to be attracted by the products displayed in the store, after just having received money.

COMPETITIVE LANDSCAPE

Coppel benefits from its omnichannel strategy

Coppel led variety stores in value terms in 2018, with 874 outlets across the country. The company targets low- and middle-income consumers, and similar to other variety stores, the offer of credit is a key element of its competitive strategy.

Asian players enter the Mexican market

Miniso, Mumuso and Yoyoso are three Asian brands which have arrived in Mexico and are recording success. Miniso has seen one of fastest rates of expansion, and it has plans to accelerate its growth with the opening of more stores.

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