The Mexican subsidiary of Walmart, known as Walmex, has been steadily expanding its operations in Central America, increasing the total number of stores- ranging from small bodegas to Supercenters, from 661 in 2014, to 778 in 2018. Revenue from Central America reached US$5.2bn in 2017 and now accounts for almost one-fifth of Walmex revenue, up from 14% in 2014. The statistic is made all the more remarkable considering that Mexico has been one of Walmart’s most profitable operations since it first opened stores there in 1991. According to a report by Bloomberg, Walmex plans to expand into e-commerce and online sales across Central America, which is currently an underdeveloped and underserved market that incumbents in the US and Latin America have largely neglected.
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Photo Credit: Mike Mozart, ‘Walmart’, Flickr