Home Depot invests more than $170 million to strengthen online retail in Mexico

It is learned that on April 9, according to foreign media reports, home furnishing retail giant Home Depot announced that it will invest 2.86 billion pesos (about 175 million US dollars) in Mexico to develop the country's online retail business and grab more market share.

It is understood that this investment marks a new milestone for Home Depot's Mexican business, and its cumulative investment in Mexico will exceed 50 billion pesos (about 3.06 billion US dollars) since its establishment in 2001. Home Depot said its main goal is to expand its product line to more than 40,000 inventory products.

Home Depot said that omnichannel development will be crucial. In the coming months, Home Depot will open 12 new physical stores in Mexico, expand its sales network to 150 sales points, and build 8 logistics centers to optimize the supply chain.

In terms of online channels, Home Depot plans to improve its online platform, integrate new products and achieve efficient shopping processes. At the same time, Home Depot will launch a new application that provides functions such as tracking orders, barcode scanning, image search, and enhance user experience through artificial intelligence technology.

In recent years, the rapid development of e-commerce in Mexico has attracted widespread attention from around the world. Currently, nearly 66 million Mexicans use online channels to purchase products or services. In 2023, the value of Mexico's e-commerce market will reach 658 billion pesos (about 40.2 billion US dollars), a year-on-year increase of 24.6%, making it the fastest growing e-commerce country in the world.

Editor ✎Rayna/

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