FEMSA's Oxxo Set to Conquer Europe and US with Thousands of Store Acquisitions
Convenience store giant FEMSA's Oxxo is making waves globally, planning to acquire thousands of stores in Europe and the US. This expansion comes as retailers seek to diversify their offerings and offset declining tobacco sales.
Oxxo, already a leader in Latin America, aims to replicate its success in new markets. The company is not alone in its ambitious growth strategy. Alimentation Couche-Tard, another major player, has been actively acquiring convenience gas stations in Germany and the Netherlands.
The convenience store sector is abuzz with potential mergers and acquisitions. Industry experts predict that major oil companies, similar to Marathon Petroleum's sale of Speedway stores to 7-Eleven, could be the next to make significant moves. Meanwhile, CP All, Thailand's largest retailer, chose to grow through ecommerce integration rather than acquisitions.
AS Watson, a key player in convenience, chain drug, and beauty retail, has found success with retail media operations and private-label products. Despite the competition, Walmart retains its top spot as the leading international retailer, followed by Amazon, Schwarz Group, Aldi, and Costco.
The convenience store sector is witnessing a surge in expansion and consolidation. FEMSA's Oxxo is leading the charge in Europe and the US, while other retailers explore various growth strategies. As tobacco sales decline, these retailers are diversifying their offerings to stay competitive in the ever-evolving market landscape.
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