Walmart Mexico New Boss Aiming for Double your sales in the fierce e-commerce market.
Ignacio CarideOver 10 years of experience working as an online retailer Mercado Libre The 2019-2020 CEO, who will take over as CEO of Walmart Mexico (Walmex), spoke about his vision for the company at a press conference on Sunday (August 25). Interview With the Financial Times (FT).
“Walmex is changing. It’s not just a retailer. already ...[or]”But it's not just that,” he says. “We're building an entire ecosystem around that core business, which is very important.”
According to the report, Caride aims to create a seamless experience between in-store and online shopping, while also improving Walmex's capabilities in cross-selling services such as financial services and healthcare. The goal is to double the company's sales. Annual It expects to increase revenue to about 1.8 trillion pesos ($93 billion) over the next nine years.
The FT noted that there are many opportunities in the online shopping sector. Mexico is a middle-income country. Young population base — is one of the fastest growing e-commerce markets in the world.
But the bulk of the market share is held by Amazon and Mercado Libre, which, according to a report released by Mexico's antitrust regulator Cofece earlier this year, Control 85% Country E-commerce He called on the government to order Amazon and Mercado Libre to take “corrective measures” to ensure competition in the online shopping market.
Meanwhile, the challenge for the Caribbean is To The FT reports that IT must transform outdated retailers into businesses that can compete on an equal footing with digital-native rivals.
“Our big outstanding liability in the digital world is technology,” he said. “We're a big company with so many systems, we call them legacy systems, because they were built with a retail-based mindset, and today we need to modernize that.”
According to a PYMNTS Intelligence survey: 62% of shoppers Mexican consumers are demanding digital capabilities that aren't always available, and retailers are trying to fill the digital gap.
“Mexican shoppers I want digital shopping functionality “That's because it often allows consumers to save money and improve their overall in-store experience,” PYMNTS wrote earlier this year.
“In other words, this is what we found when we studied consumer behavior in Brazil, the UK and the US. and Elsewhere, local shoppers are enjoying enhancing their brick-and-mortar shopping experience with digital features. Our research shows that they are approaching purchases with Click and Mortar™ Shopping.”
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