Wal Mart Mexico, a subsidiary of Wal Mart, a US retail giant, announced on the 12th that the company will invest 34.5 billion pesos (about 2.05 billion US dollars) in the Mexican market in 2024, an increase of 19% over last year.
The statement states that approximately 45% of the investment will be used for the renovation and maintenance of existing stores, 29% for the opening and expansion of new stores, 15% for improving the supply chain, and the remaining 11% for promoting e-commerce and the implementation of new technologies.
Guilherme Loureiro, CEO of Wal Mart Mexico, said last month that 2023 will be the fastest year for the company to increase its new stores in ten years, and the company has the ability to continue to expand its footprint in Mexico.