Mexico's Oxxo Has More Stores Than the Biggest US Retail Chains
Oxxo has 20,000 stores, more than most US retail giants, with 80% of Mexico's cash deposits.
A couple of months ago, we did a deep dive into FEMSA’s finances (Oxxo’s parent company). However, as the chain reaches its 20,000 locations, we thought it’d be appropriate to compare it to some of the biggest chains in the US and showcase how big Oxxo’s presence is in Mexico.
The Oxxo slogan is “a la vuelta de tu vida” literally meaning “just around your life.” And that slogan couldn’t be more accurate. There seems to be one in every block of the country. What Oxxo offers is way more than convenience store products, it allows anyone to pay their utility bills, make bank deposits, and even make e-commerce payments with cash. By integrating its cash register with Mexico’s biggest banks, it’s estimated that 80% of all cash deposits are made in an Oxxo.
The only US chain with more locations than Oxxo is Subway with 24,154. However, unlike Oxxo, none of Subway’s locations are company-owned. They are all franchises and run independently. FEMSA, on the other hand, operates all of its 20k stores and does a peculiar job to standardize them. This allows them to offer the same customer experience whether you visit a store in Tijuana or Merida.