Grupo Elektra faces strong competition at the regional level, mainly from Almacenes Coppel and Grupo Famsa, as well as independent local retail stores.
As of March 31, 2022, Grupo Elektra had 1,198 stores of the Elektra and Salinas y Rocha formats in Mexico, making it one of the leaders in specialized commerce.
In particular, the company considers that Almacenes Coppel is its main competitor at the national level, as well as the formal competitors that are regional and local specialized and department stores.
The company also believes that through its business operations it is in a good position to compete in its target market in Mexico.
Grupo Elektra’s commercial business includes the financial results derived from the sale of products and services such as motorcycles, telephony, household appliances, household items, entertainment, consumer electronics, furniture, computers, electronic money transfers, extended warranties, airtime , among other services and products.
Above all, the commercial business operates through two store chains: Elektra in Mexico and Central America, which is owned by Nueva Elektra del Milenio, and Salinas y Rocha in Mexico, which is owned by Grupo Elektra’s subsidiary Salinas y Rocha.
The company offers financial services and specialized trade to all socioeconomic levels of the Mexican population, focusing mainly on levels C+, C, C- and D+, which cover approximately 66% of the total population in Mexico and Latin America, market that has been neglected by traditional banking.
Its commercial business is highly competitive, since the sector is significantly fragmented and consumers are served by a wide variety of formats: retail stores, independent stores, commercial chains and department stores, as well as informal establishments such as vendors and street markets.
Its main competitors in Guatemala are: La Curacao, Agencias Way, Almacenes Tropigas, Dístelsa-Max Supertiendas, El Gallo más Gallo, Walmart, Electrónica Panamericana, Almacenes Japon, Tecnofácil, Distribuidora La Económica, Radioshack, Cemaco and Americana 2000.
Meanwhile, its main competition in Honduras is made up of: La Curacao, El Gallo más Gallo, Almacenes Tropigas, Diunsa, Lady Lee, Jetstereo, Walmart, Comercial M&M, Molineros Comercial, Mundiofertas, Comercial Yoli, Key-mart and Radio Shack.
The company operates in four Central American countries, where it retails electronics, minor appliances and furniture.