OXXO’s expansion allowed it to surpass Soriana and Chedraui sales in 2024, according to information from the United States Department of Agriculture (USDA).
In 2024, OXXO ranked second among Mexico’s leading retailers, surpassed only by Walmart.
Next in descending order were Casa Ley, Tiendas B, HEB, Grupo La Comer, and COSTCO.
OXXO’s expansion
OXXO is classified as a small-space convenience store that offers access to resources that family grocery stores do not have (advertising, marketing, promotions) and is typically located on busy streets or at gas stations.
In 2023, OXXO ranked 10th among the largest retail chains in Mexico. That year, it was surpassed by Walmart, Soriana, Chedraui, La Comer, HEB, Calimax, Merza, Casa Ley, and COSTCO.
According to the USDA, the Mexican retail sector continues to grow at a dynamic pace. It grew by more than 7% in 2024 and exceeded $80 billion. At the same time, modern chains such as Walmart and Soriana continue to attract middle- and high-income consumers. Meanwhile, e-commerce is advancing. Grocery and food apps are also gaining ground.
On the other hand, retail trends point to functional foods and beverages. Plant-based alternatives, snacks, and pet products stand out.
Business Growth
FEMSA’s Proximity Americas Division increased the number of OXXO stores at a compound annual growth rate of 6.7% between 2022 and 2024. This expansion drove total revenue and improved operating results during the period.
At December 31, 2024, the division operated 24,462 stores under the OXXO brand. This represents year-over-year growth of 6.9%. At the same time, the company maintains innovative promotional strategies to increase traffic and sales.
OXXO stores offer high-turnover products, such as beverages, snacks, and cigarettes, at competitive prices. The chain’s scale also makes it easier to work with suppliers and apply differentiated promotions. Similarly, national and local campaigns help generate more sales, reach new segments, and strengthen the brand.
In 2024, OXXO’s revenue reached 307.197 billion pesos, an annual increase of 10%. On the other hand, its profit grew 17% to 136.993 billion pesos.