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Mexico: Hard discount stores grew 24% in points of sale in Mexico

Discount Retail Stores, better known as hard discounters, grew 24% in points of sale in the country last year, according to data from the consulting firm NIQ Mexico. Although sales registered in this channel barely exceed 2%; Analysts point out that it is a channel with ample growth potential, especially because its strategy focuses on offering low prices, private labels and obtaining profits from sales in volume.

Discounter format brands such as Tiendas 3B and Tiendas Neto compete in this sector. These are 400-square-meter shops where they mainly sell basic necessities with 20% lower prices, compared to a self-service store.

To measure the growth of this channel, it is enough to review its expansion in other countries, for example, in Colombia they represent 17% of total sales in the retail channel; while in Norway, Denmark, Belgium and Germany, it is 40%.

In Mexico, low- and middle-income people buy their essential products in these stores such as dairy products, toilet paper and cleaning products.

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