The convenience store chain Oxxo, of FEMSA, ranked second retailer in terms of sales per square meter last year, behind Walmart, but above three of the major supermarket brands in the country, Comercial Mexicana, Soriana and Chedraui.
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According to the quarterly data from Invex Analysis and the businesses, last year, Oxxo’s average sales per square meter amounted to 10,910.75 pesos above Chedraui, which had sales amounting to 10,843.25; Comercial Mexicana, with 9,217.5; and Soriana, with 8,258.75 pesos per square meter. Meanwhile, Walmart, despite having poor results in sales in recent months, has good indicators of operating efficiency. It is the leader in terms of sales per square meter, with an average of 15,946 pesos.
It is worth noting that the country’s economical slowdown had a negative effect on the retail sector over the past year, “the retailers in Mexico were a case to mourn in 2013; remittances fell, government spending was lower, consumption never took off, in short, it was the perfect storm,” said Alejandra Marcos, from Intercam, in a report about the sector.
The sales obtained by Oxxo per square meter have been higher than those obtained by Soriana and Comerial Mexicana since 2012 as FEMSA’s retail chain obtained 10,674.5 pesos in revenue, Comercial Mexicana, 8,998.25 pesos and Soriana, 8369.25; in contrast, Chedraui had revenues for 11,072.5 pesos per square meter and Walmart 16,714.75 pesos.
For the last quarter of 2013, the Oxxo reported sales for 10,973 pesos per square meter, while Comercial Mexicana reported 9,353 pesos, and Soriana 11,931 pesos, a trend that was similar throughout most of the year.
“Oxxo has good revenues in good times and in bad times too,” noted Intercam’s analyst.
The main advantages of OXXO are the variety of services available to their users and their banking program.