E-commerce: Walmart de México y Centroamérica grows 22% in 2023

Walmart de México y Centroamérica (Walmex) recorded a 22% year-on-year growth in its e-commerce Gross Merchandise Value (GMV) in 2023.

Previously, of this company’s total sales of 813.06 billion pesos in 2022, 5.1% corresponded to e-commerce.

VBM is a term used in e-commerce and business to describe the total value of goods or services transacted through a platform or business during a specific period of time, without taking into account discounts, returns or any other adjustments.

The company drove e-commerce VBM growth by accelerating Marketplace (+40%) and enabling more than 1,200 On-demand stores.

Walmex upgraded its application technology to offer a faster and more user-friendly shopping experience to its customers, and digitized processes to make the work of its store and club associates easier and more efficient.

While Walmex’s net sales grew 8.2% to 880.122 billion dollars in 2023, its net income grew 5.3% to 51.59 billion dollars, year-on-year.

E-commerce

Walmex’s strategy, which includes investments in eCommerce, technology, store openings, remodeling and other customer initiatives, may not adequately or effectively enable the company to grow its eCommerce business or comparable store growth, or may be an obstacle to maintaining or improving its overall market position.

The success of this strategy will depend largely on its ability to build and deliver a frictionless omnichannel shopping experience and is also subject to the challenges it faces.

In 2022, the company built a stronger online credit offering, enabling new lenders in the Digital Credit Marketplace in more than 100 stores, leveraging eCommerce kiosks in Walmart Supercenter and Bodega.

Within this offer is the «Buy Now Pay Later» credit (Buy Now Pay Later), in which, through registration in the application, and selection of the most convenient credit offer, you can buy computer products, electronics, toys and more, on credit with fixed payments, no down payment, no annuity and without using a debit or credit card.