Mexico City – Grupo Coppel and The Home Depot have revealed significant investment plans for Mexico in 2024. These retail giants are investing billions of pesos in store expansion, renewable energy, and digital experiences.
Grupo Coppel will invest 12 billion pesos, focusing on store openings, renovations, and sustainability initiatives. This includes expanding renewable energy use and adopting new technologies. The company expects to create over 8,000 new jobs, solidifying its position as a top job creator in Mexico.
The Home Depot will invest 2.86 billion pesos, opening 12 new stores and reaching 150 locations nationwide. The company highlighted its 22-year growth trajectory in Mexico and pledged to continue market share gains.
Sustainability Efforts
Grupo Coppel is committed to environmental responsibility. The company aims to reduce carbon emissions by installing solar panels on over 700 properties by year-end, achieving a 33,000-ton reduction (equivalent to planting 540,000 trees).
Additionally, they plan to expand their electric and hybrid vehicle fleet to 700 units and transition a significant portion of last-mile delivery vehicles to electric by 2030, resulting in emissions reductions comparable to planting 4.3 million trees.
Digital Transformation
Grupo Coppel will allocate 6 billion pesos over three years for technological advancements, enhancing the customer experience across physical stores and digital channels.
The Home Depot’s Growth Strategy
The Home Depot, a major player in the home improvement sector, is no stranger to growth in Mexico. Having surpassed the 50 billion peso investment mark since entering the market in 2001, the company continues to demonstrate confidence with a new investment plan for 2024.
This strategy focuses on market share expansion, providing exceptional customer service, talent development, and geographically expanding their presence across the country. They will also broaden their product catalog, offering customers an even greater selection of over 40,000 home improvement items.
These investments by Grupo Coppel and The Home Depot signal continued confidence in the Mexican market and a commitment to serving customers with a wider variety of products, improved experiences, and a focus on sustainability.
The significant investments planned by both Grupo Coppel and The Home Depot signal a strong belief in the potential of the Mexican market. These moves not only promise a wider variety of products and enhanced customer experiences, but also demonstrate a commitment to environmental responsibility through innovative sustainability initiatives.