The Home Depot will invest 1,950 million pesos in Mexico this year

The home improvement store The Home Depot reported that it plans to invest 1,950 million pesos this year in the country, in order to meet its growth expectations and improve the shopping experience.

Retail in Mexico
Retail in Mexico

This investment contemplates the opening of new stores, the implementation of efficiencies in its logistics and the strengthening of its interconnected retail strategy, to offer the customer the best shopping experience in physical stores and online.

"Our intention is to continue growing in Mexico, generate quality jobs and continue to innovate in the way of being in contact with the client," José Rodríguez Garza, president and CEO of the firm in Mexico, said in a statement.

It should be noted that the company strengthened its presence in the country in 2018, with the opening of two new stores, the expansion of its multi-channel distribution centers and the complete renovation of its online store.

With this, it reached more than 25 thousand articles online during that year, while it operated more than 120 stores in the 32 entities of the country and observed 61 consecutive quarters of positive growth in Mexico.

By 2019, it will implement projects that allow more and more to link physical stores with electronic commerce, as well as improve communication with customers and serve them at any time and from any place.

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Mexican retailers project a slight sales decline this year

The National Association of Supermarkets and Departmental Stores reported on Wednesday that last year comparable sales, those of stores with more than one year in operation, grew 0.1% in 2018 and decreased 1.3% year-on-year in December.

The association that groups the main retailers of Mexico expects the comparable sales of its affiliates to fall slightly this year after marginal growth in 2018 when they were hit by the weakness of the domestic market, inflationary pressures and public insecurity.

The National Association of Supermarkets and Department Stores (ANTAD) reported on Wednesday that last year comparable sales, those of stores with more than a year in operation, grew by 0.1% in 2018 and fell by 1.3% year-on-year in December.

The group, which counts among its affiliates the leading market giant Wal-Mart de Mexico (Walmex) and Soriana, said it expected a sales drop of 1.0% in 2019 when a meagre growth is expected in the second largest economy in Latin America.

ANTAD announced, on the other hand, that its associates estimate to invest some 3 billion 250 million dollars this year to build new stores, make renovations and in logistics and distribution.