The OXXO store base contracted by 67 units, including temporary closings, at the end of the fourth quarter of 2020, to reach a total of 19,566 units.
This figure includes 93 new OXXO store openings, 80 store reopens, 234 definitive closures and 6 temporary closures due to the Covid-19 pandemic.
It also reflects the addition of 236 total net openings of new OXXO stores during the last 12 months.
Today, most OXXO stores operate under lease contracts, which are denominated in Mexican pesos and are adjusted annually to an inflation index.
This approach provides FEMSA‘s Proximity Division with the flexibility to adjust locations as cities grow and effectively adjust its footprint based on store performance.
Both the identification of locations and the planning prior to opening to optimize the results of the new OXXO stores are important elements in the growth plan of FEMSA’s Proximity Division.
The Proximity Division continually reviews the store’s performance against certain operational and financial benchmarks to optimize overall chain performance.
Consequently, Proximity Division stores that cannot maintain benchmark standards are generally closed.
In Mexico, approximately 60% of OXXO store customers are between 15 and 35 years old.
The Proximity Division also segments the market according to demographic criteria, including income level.
If space dedicated to refrigeration, storage or parking is excluded, the average size of an OXXO store is approximately 103 square meters of sales space.
The average built area of a store is around 189 square meters and, when parking areas are included, the average size of the store is approximately 407 square meters.
In 2019, a typical OXXO store averaged 3,456 different stock-keeping units (SKUs) across 31 major product categories.