The American chain of shopping clubs Pricesmart confirmed that it will open a second store in Medellín in 2023, in the El Poblado neighbourhood. With this opening, the chain will complete 10 points in Colombia and 52 in Latin America.
“We continue to look for opportunities to expand our geographic presence. We plan to open a warehouse club in El Salvador located in the city of San Miguel in the spring of 2023, in addition to the club in Medellín, Colombia. We continue to actively seek growth and evaluate opportunities in new markets,” the chain said in a statement.
In addition to its openings and the expansion of new clubs, PriceSmart redoubles its commitment to local brands and presents constant collaborations with Leonisa, Arturo Calle, St Even, Fantastic Night and Cannon, to name a few. The mixed offer between local and foreign brands has been one of the key points of the company’s success in the country.
The chain, owned by Costco, operates under a format of few products, with an inventory of less than 2,500 references, compared to the nearly 50,000 references in a traditional department store. PriceSmart does not invest in advertising or carry out promotions, a situation that has allowed it to compete with the growing supply of wholesalers in Colombia, where it has more than 15 per cent of the national business.
