Having surged during 2020 in the wake of the pandemic, the retail constant value sales (2021 prices) of warehouse clubs stabilised during 2021. In a year unlike any other, Costco (Costco de México SA de CV) and Sam’s Club (Wal-Mart de México SAB de CV) – the dominant players – were able to capitalise on COVID-19 during 2020.
Between them, Sam’s Club and Costco accounting for more 95% of value sales in this channel during 2021, with City Club (Organización Soriana SAB de CV) their only rival. During the review period prior to the onset of the pandemic, the number of warehouse club outlets in Mexico had expanded gradually, but this growth ground to a halt during 2020 due to disruption and uncertainty arising from COVID-19.
Warehouse club retailers have also boosted their online stores and delivery services in the wake of the pandemic, as many consumers preferred not to shop in-store during the year due to fears of contracting COVID-19. As a result, Wal-Mart de México SAB de CV’s Sam's Club launched same day delivery in 70% of its stores.
The rate of growth in the retail constant value sales of warehouse clubs will accelerate during 2022 and remain broadly in line with the review period throughout the forecast period. With inflationary pressure set to mount during the early part of the review period, the highly competitive pricing of warehouse clubs will become increasingly attractive to local consumers – particularly their extensive private label offer.
Warehouse clubs are expected to increase the number of stores that offer delivery in an effort to improve their service offering. They will also seek to expand their partnerships with third party, last-mile delivery services like Rappi.
Social media will play an increasingly important role in the marketing strategies of warehouse clubs during the forecast period. In particular, this will help them to attract young adults, who tend to spend much more time online than their older counterparts.
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Warehouse Clubs are chained outlets that sell a wide variety of merchandise, but do have a strong mix of both grocery and non-grocery products. Customers have to pay an annual membership fee in order to shop. The clubs are able to keep prices low due to the no-frills format of the stores and attempt to drive volume sales through aggressive pricing techniques. Please note that sales data for the Warehouse Club channel excludes membership fees in the data provided by Euromonitor International. Therefore, the channel data provides sales data for products only. Warehouse Clubs typically: - exceed 2,500 sq metres of selling space and are invariably -over 4,000 sq metres in size; - convey the image of a high-volume, fast-turnover retailing at less than conventional prices; - provide minimal customer assistance within each department; and - are situated in out-of-town locations. Example brands include: - Costco - Sam’s Club (Wal-Mart) - PriceSmart - Cost-U-Less Warehouse Clubs excludes: - Mass merchandisers - although warehouse clubs and Mass merchandisers share many of the same characteristics, consumers shopping at warehouse clubs have to pay a membership fee, while those using Mass merchandisers do not. - Cash & Carries/Wholesale – Warehouse Clubs differ from Cash & Carries through being orientated towards consumers, rather than businesses. Cash & Carries require customers to have evidence that enables them to shop there (VAT or business number for example), while Warehouse Clubs do not.See All of Our Definitions
This report originates from Passport, our Warehouse Clubs research and analysis database.
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