Wal-Mart Looks to Expand in Costa Rica

Written by alanp

Wal-Mart has recently launched a new venture in the US, planning to open 1,000 MoneyCenters by the end of 2008. Now with that project under way, the retailer is considering opening these stores in Latin America as well. The powerhouse company tends to have a uniform approach to all the countries it operates in so it is safe to assume that we will soon be seeing MoneyCenters in Latin America.

The only item that needs to be assessed is the legality of the types of centers here. The centers purpose is to provide customers ¨outside mainstream banking with nationwide access¨ to low-cost money services, including money orders, check cashing, money transfers, and bill payment.

Wal-Mart is already the region’s largest retailer with 394 supermarkets and 23,000 associates in El Salvador, Honduras, Costa Rica, Nicaragua, and Guatemala. In Costa Rica alone Wal-Mart operates 106 Pali´s, 23 Mas X Menos stores, 8 Maxi Bodegas stores, 6 Hiper Mas stores, and 7,900 associates.

Wal-Mart started conquering Latin America in 2005 when it purchased 33.3% of CARHCO from the Dutch Retailer Royal Ahold NV. Then in 2006, it increased it shares to 51% and officially changed CARHCO to Wal-Mart Central America.

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