Mexican retailer Walmex is set to invest around 34.5 billion pesos (€1.88 billion) in 2024, up 19% from previous year.
Some 45% of the investment will be used for remodeling and maintenance work of its existing stores, to 'further improve omnichannel capabilities and implement projects to increase the efficiency, sustainability and accessibility for people with disabilities of the existing stores,' the group said.
Another 29% has been allocated for new openings and expansions, 'to expand our reach and bring our value proposition to more customers'.
New Store Contribution
During 2024 new stores are expected to contribute between 1.4% and 1.6% to Walmex's total sales growth.
Elsewhere, the retailer's supply chain will benefit from 15% of the investment – 'with the objective of increasing growth capacity and to offer a better service to customers' – while the remaining 11% will be destined to boost e-commerce and the implementation of new technologies.
This will entail efforts to enhance the shopping experience on its digital platforms, improve and expand its analytics capabilities to gain deeper insights into customers, and invest in automation at its stores and distribution centers to enhance productivity among associates.
Walmex Day 2024
The plans were shared during Walmex Day 2024, where Guilherme Loureiro, executive president and CEO, said that the group's focus remains on creating value for all stakeholders, centred around three strategic priorities: Winning in Discount, Leading in Omnichannel, and Becoming the Ecosystem of Choice.
Loureiro said last month that the company was in a position to continue to grow its footprint in Latin America's No. 2 economy, after 2023 marked its fastest year for adding new stores in a decade.
Additional reporting by ESM
