MEXICO CITY (El Universal).— The inflation levels that were reached in 2021 and the effect of the pandemic modified the consumption patterns of Mexicans, so that they saw stores that sell dollar products as essential suppliers.
The commercial vice president of Waldo’s Dollar Mart from Mexico, Ernesto Llano explained that people realized that they might buy food and cleaning products at affordable prices in these stores.
“The idea of the business is to sell products at a price equal to one dollar, which has increased the comparable sales of this chain of stores by 45% in the last three years,” he said.
In the grocery sector alone, he stated that annual sales between 2021 and 2023 grew at a rate of between 13% and 15%.
“Due to the pandemic and changes in people’s purchasing habits, many more customers turned to see our format, so the number of buyers that Waldo’s will have for the remainder of the year will practically double,” he said.
With the format of selling basic products of 9.99 pesos, 14.99 pesos and 20.99 pesos, the calculation is that of the 55 million customers who visited the store in 2019, it will reach 100 thousand by the end of 2024. To achieve this, he detailed, work is being done on a store expansion strategy.
Llano said that the products they sell do not compete with the offerings of self-service stores, so their branches can be next to large chains.
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2024-04-01 22:06:40
