Walmart announces MXN $22,200 million investment in Mexico and Central America in 2021
The company’s CEO, Guilherme Loureiro, explained that of the 22.2 billion pesos planned for this year, 40% will be allocated to remodeling and maintenance, 25% to openings, 25% to logistics and 10% to ecommerce and technology.
“Going forward we will increase investments in logistics and technology, also in new stores and modernize our existing stores through omnichannel and build the foundations of the ecosystem,” he said.
In fact, the strategy is for omnichannel to have a double-digit share within the company, which is why they will reinforce ondemand, accelerate growth in the catalog, and invest in technology, logistics and talent.
As part of this plan, the chain will launch Walmart Pass, a monthly or annual subscription program that will allow its customers to place orders at no cost; they will also add various benefits.
It will also offer financial solutions, since through its Cashi platform it will allow people to pay for their purchases online.
The company will also set up an open circuit with a financial institution, which will allow its customers to have access to a bank account so they can send and receive money both in Mexico and abroad and access credit.
During the past year, the contribution of e-commerce increased 5 times versus 2019, reaching 260 basis points; in the fourth quarter alone, it contributed 340 basis points to the company’s total sales growth.
In fact, the company highlighted that e-commerce sales growth was 171%, both in the fourth quarter and for the year; which represented 3.8% of its sales in Mexico for all of 2020.
“In November, we reached our all-time high in monthly sales for General Merchandise on demand. It is encouraging to see the potential we have in the omnichannel space with the evolution of the market,” Walmart said.