Grupo Elektra: its digital strategy in the US
Grupo Elektra maintains a growth strategy in the United States through the expansion of its client portfolio and greater diversification of financial products and services via digital channels, targeting underserved markets.
At the end of 2021, the company operated 6,279 points of contact, compared to 6,601 units the previous year.
Above all, the decrease results from the closure of 196 Purpose Financial points of contact in the United States, in the context of strategies aimed at boosting online credit operations and strengthening the company’s operational efficiency.
The company has sought to diversify the services of Purpose Financial (formerly Advance America) in the US market.
As of 2015, this diversification of products and services began, which have been consolidated in recent years.
Among the most important are guaranteed loans and loans with payments in installments, in addition to traditional loans in advance in which we maintain leadership.
The number of contact points of the company in Mexico, at the end of 2021, was 4,680, in the United States 1,233 and in Central America 366.
The important distribution network provides Grupo Elektra with proximity to the customer and proximity in service, and generates a superior market position in the countries in which it operates.
Regarding its finances, consolidated revenues for 2021 grew 21%, to 146,019 million pesos, driven by a 25% increase in sales from the commercial business and 18% in revenues from the financial business.
At the same time, EBITDA was 22,015 million pesos, compared to 9,812 million the previous year.
Grupo Elektra is the leading specialized retail and financial services company in Latin America and the largest provider of short-term non-bank loans in the United States. The Group operates more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Panama and Peru.
Grupo Elektra is a Grupo Salinas company.
For its part, Grupo Salinas has its subsidiaries TV Azteca, Grupo Elektra Banco Azteca, Purpose Financial, Afore Azteca, Seguros Azteca, Punto Casa de Bolsa, Totalplay and Totalplay Empresarial.