Walmart’s financial performance and market position
In 2022, Walmex in Mexico generated net sales of over 813 billion Mexican pesos, representing a net sales growth of about eleven percent from the previous year. The brand is ahead of its closest competitor in market share, Grupo Chedraui by about 44 percentage points. In 2022 it had a net income of about 49 billion Mexican pesos, while its three main competitors Grupo Chedraui, Organización Soriana, and La Comer all had an income of under 10 billion Mexican pesos.Consumer behavior and e-commerce
With the increased popularity of e-commerce and online shopping, Walmart switched early on to an omnichannel shopping strategy where customers can order on the web or via the Walmart shopping app and pick their groceries up at different locations or receive them at home, turning it into the third largest online retailer in Mexico. Its e-commerce sales increased by 34 percent in 2022 compared to the previous year.Despite its reach, numerous discount stores, and low-price advertising, Walmart de México is still the most expensive company for the basic food basket in Mexico. In a time where consumers in Mexico are looking for value, many are attempting to cut their spending by trading down and opting for more affordably priced goods.
