Central American retail is going through a deep transformation that will project it in the coming years as an increasingly international player in the commercial arena. Rather than simply fending off the invasion of international chains, Central American business groups are opting for expansion strategies and, little by little, are penetrating new markets and consolidating their business models to become a rival in many countries to the big chains that run across the continent.
This expansion in Central American retail has to do with the maturity of the region’s business environment, but it also projects a different view: not only local but increasingly global. Brands such as Grupo Unicomer and Grupo Calleja, both from El Salvador, are two of the most illustrative examples of how Central American companies are using their experience in the region to make inroads into much larger and more complex economies.
Grupo Unicomer: from the region to the world
Grupo Unicomer was founded in El Salvador and is already operating in more than twenty countries. The brand has over 25 years of history and has been recognized as one of the leading operators in Latin America and the Caribbean in the sale of appliances, technology, and durable goods.
Among its main portfolios of brands, it is worth highlighting the iconic retail stores La Curacao, Gollo, and Tropigas, in addition to RadioShack, with which, in 2015, the company completed one of its most strategic operations. It was then that Unicomer acquired the intellectual property rights and franchise contracts for RadioShack in Central America, South America, and the Caribbean.
In 2023, Grupo Unicomer acquired RadioShack’s intellectual property rights and domain assets at a global level, including in the United States, in what was a step towards the relaunching of the brand with a new value proposition based on product innovation, a superior shopping experience, and new marketing strategies designed for the demands of the digital consumer.
In April 2024, the company announced the official opening of the first RadioShack store in the United States and continues to accelerate its presence on the continent. At present, Unicomer has more than 1,255 points of sale in Latin America, the Caribbean, and the United States, with more than 397,000 square meters of consolidated retail space.
Grupo Calleja and its incursion in Colombia
Grupo Calleja is another key actor in the regional retail expansion scenario in the Central American region. The Salvadoran company, which is best known for its Super Selectos supermarket chain, closed 2023 by making headlines with the announcement of a majority acquisition of Grupo Éxito, a leading South American retail group.
In this operation, Calleja acquires a network of six hundred stores operating in Colombia, Uruguay, and Argentina, which are consolidated under well-known brands such as Éxito, Carulla, Surtimax, Devoto, Disco, Géant, and Libertad, among others. Several of these brands are currently undergoing a process of restructuring, which, although it represents a challenge, is also an opportunity for Calleja to apply its operating model to optimize the existing structure.
The move into the Colombian market was not, in this sense, a random decision: Colombia is one of the largest economies in Latin America, and the market is very competitive internally, with a consumer profile marked by a wide diversity in purchasing power and preferences.
The bet for the Grupo Calleja, therefore, not only represents a strengthening of its presence in the retail sector, but also an excellent opportunity to scale operations at an accelerated rate, diversifying income sources and leaving the Central American framework.
In addition, the move repositions the company as a benchmark for processes of internationalization coming from smaller countries. The size of the country of origin of a business group should no longer be seen as a limitation to its business ambition if that group has a long-term strategic vision and the operational capacity to adapt.
Central America, a new magnet for international investment
In addition to Central American companies expanding globally, the region itself is also becoming an increasingly attractive destination for foreign investment, especially in retail and related sectors.
Néstor Mejía Turcios, Vice President of Investment Banking at EY Parthenon, Central America and Panama, has stated that in recent years Panama and the Central American region have generated the interest of international players and investors not only for their privileged geographic location, but also for their economic dynamism and growth of the middle class.
In this sense, the investment that the Ecuadorian retail chain Corporación Favorita recently made in Panama’s Grupo Rey shows the interest of large South American chains to gain a foothold and extend their presence in Central American retail markets. Investments such as this reinforce the country’s position as a commercial bridge between northern and southern countries on the continent.
Turcios indicates that the regional expansion is also being accompanied by the growth of collateral sectors, such as delivery, which, although not strictly retail, has a direct impact on its development and evolution.
The boom of digital platforms and ecosystems
The booming development of e-commerce and delivery platforms is also producing important changes in the Central American retail landscape. In this sense, the 2021 sale of Salvadoran delivery platform “hugo” to the German company Delivery Hero for 150 million dollars, marked a before and after for the regional industry.
In addition to capturing the attention of national and international investors, the transaction demonstrated the existence of a great technological dynamism in Central America, which is also being marked by the boom of tech innovation and startup creation.
Turcios points out that many of these delivery apps have incorporated into their structures “digital stores” which compete directly with supermarkets, hypermarkets, and convenience stores, something which is forcing retailers to modify their operating models and advance in the digital transformation of their businesses.
At the same time, this movement is also generating the attention of venture capital, which has identified in regional startups and digital platforms an excellent opportunity for investment and takeovers.
This new digital ecosystem does not replace but complements the Central American retail model. However, in the medium term, it will redefine the rules of the game to such an extent that traditional companies now face a decision: to transform, collaborate or compete directly against these new players.
According to the EY expert, in the coming years, Central American retail will leave the stage of organic growth and enter a consolidation phase, of strategic alliances and mergers. The market leaders today will be able to absorb smaller competitors or be an acquisition target for larger international groups.
This new panorama will give rise, in the medium term, to a series of realignments in the commercial map of the region, where we will no longer speak of purely local actors fighting each other, but rather of an increasingly regional and international playing field, with new players, new rules and, above all, increasingly demanding consumers.
At stake, then, is not only sales leadership but also the ability to build integrated, omnichannel, user-centered consumer experiences. In this scenario, innovation, adaptability, and the projection of a long-term vision will be key in determining which companies will lead the next chapter of retail in Central America.
Central America, a Launchpad for Global Ambition
Central America is no longer only a region that attracts foreign investment; it is also becoming an incubator for companies with global ambitions. The international consolidation of groups such as Unicomer and Calleja signals a turning point in the business history of the isthmus and the opening of a new narrative for the Central American retail: that of a region that not only grows, but also exports successful business models.
In this new scenario, Central American retail ceases to be seen only as a product-based business and becomes a fertile ground for innovation, technology, and strategic alliances. The challenge now will be to continue maintaining this growth dynamic without losing sight of the consumer or the regional identity that differentiates these brands.