Oxxo will continue to grow its brand in Yucatán with 100 new locations.
The convenience store giant will invest 500 million pesos over the next three years in municipalities such as Tekax, Ticul and Oxkutzcab.
The move is part of a strategy that seeks to expand market reach outside of Mérida into smaller communities.
Concerns regarding Oxxo’s expansion revolve around the disappearing mom-and-pop shops known affectionately as tienditas.
“It makes me sad to see when a new Oxxo arrives in a neighborhood, as many tienditas are forced to close down due to a loss of sales. They depend on that income. And here we are enriching them. Do it for your country, buy at tienditas,” @ElMaderense12 wrote on Twitter.
Aside from its large market presence, part of Oxxo’s success lay in the fact that many customers use its stores for more than just shopping. Services such as money transfers, utility bill payments, and the purchase of mobile telephone credit are extremely popular, but of course, cost a little more after Oxxo takes its fee.
This most recent round of investment would create 4,750 new jobs in Yucatan, according to a document present to Yucatán Gov. Mauricio Vila Dosal.
In June 2020, Oxxo reported having nearly 20,000 locations operating through Mexico. The chain has 409 stores in the state of Yucatán and employs 3,600 workers there.
The company also has stores in South American countries such as Colombia and Perú and is developing a strategy to bring the brand to Brazil and Chile.