Payless has 82 stores throughout Colombia making the country the principal South American market. The company believes that Colombia’s economic performance unveils infinity of commercial opportunities in the country
Published in Amcham Colombia Business Express, available here
Payless is an American discount footwear retailer that started to sell its products in 2008 in Colombia by taking huge steps in the local economy. With an initial investment of USD $200,000, our company, which is a member of Amcham Colombia just opened its first Super Store in Colombia (its third one in South America) last march.
The Super Store concept is a retail format that Payless has been implementing with great success since 2013. Based on ample and well-lit spaces, these stores offer a wide range of products that almost doubles the range available in traditional stores. Therefore, more than 13,000 references and accessories are available to our customers, which, compared to a regular store represents just 30% of our products on a normal basis. This Super Store is located in Plaza Central Mall in Bogota and its 600 square meters promises a great place for shopping.
However, this is just one example of our strategy of consolidating our business, not only in Colombia, but also in the region. Today, Colombia has become our principal South American market, given that our operations here are the largest in the region in terms of sales and number of stores. Currently, Payless counts on 82 stores throughout the country, with 26 of them located in Bogota, the country’s capital which has a huge potential of 9.1 million of customers. As you can see, we strongly believe in the strong performance of Colombia’s economy and therefore, we have made investments of more than $34 million dollars.
According to Guillermo Barreto, CEO in Colombia and Regional Operations Chief in South America, the company found a strong business climate which is evidenced through our customer’s positive response to our quality and service proposition. In this sense, Barreto points out that “We want to keep offering our customers the best footwear and accessories portfolio, combined with a unique shopping experience. That is why we decided to open our new Super Store here. We are really proud because Colombia was chosen as the country to develop these new kinds of stores in South America, which is great news for the country since it will create new job and investment opportunities”.