In recent years, demographic growth in Puerto Vallarta and Riviera Nayarit’s urban area has been significant. According to data provided by the National Institute of Statistics and Geography (INEGI), the population grew from 151,388 inhabitants in 1990 to 379,934 in 2010, with an average annual rate of increase of 7.56%. Aside from providing real estate opportunities, this population growth has encouraged a few large commercial brands—such as Home Depot, Liverpool and Starbucks—to set their sights on meeting the needs of those who live in the area. However, there are still several market niches that other corporations can consider. We present a list of five brands we think would success if they opened their doors in our destination.
One of the most successful department stores in Mexico, belonging to Carso Group (conglomerate company owned by Mexican magnate Carlos Slim), Sanborns has 190 branches throughout the country. The brand offers an extensive catalogue of products such as books, magazines, electronic devices, clothing, fragrances and jewelry. Its uniqueness lies in a café-restaurant with free internet, which has become an ideal place for shopping and coffee lovers, as well as for holding work meetings. Even though different media outlets have announced that Sanborns will be one of the brands featured in the new La Isla shopping mall (to be tentatively inaugurated in November), this information has not been confirmed by an official press release from the company, so we will have to wait until opening day.
Bed Bath & Beyond
Founded in 1971, this American chain of domestic merchandise retail stores has 1,020 stores around the world. In Mexico, it has branches in Mexico City, Cuernavaca, Toluca and Morelia. This is a large establishment that sells specialized articles for bedroom, bathroom, kitchen and dining room; offering effective solutions for those seeking to furnish their rooms. In Puerto Vallarta and Riviera Nayarit, this brand would represent the most complete option among stores that are in this line of business.
While it is true that our city has department stores featuring electronics departments and technology-focused shopping plazas, the arrival of Best Buy, a multinational corporation with a wide range of products and large-scale distribution, would represent an excellent option for the local market. Have you ever purchased an electronic product from an online store because you could not find it in the city? Best Buy could provide an effective solution for this need. This chain with branches in Canada, United States and Mexico, features departments, such as video, audio, photography, computers, security, communication and all kind of accessories. Guadalajara is the only city in Western Mexico with Best Buy branches, so the opening of a store in Puerto Vallarta and Riviera Nayarit could further fit the needs of the population from other Jalisco and Nayarit municipalities.
Even though the origins of this brand with headquarters in the United States date back to 1949 and it has a global presence, it opened in Mexico only last year with a store located in Mexico City’s swanky Polanco neighborhood. Designed for clients with high purchasing power, this store is a more exclusive and refined home décor option. Its products include indoor and outdoor furniture, bedding and bath products, rugs and curtains, and other unique accessories. Without a doubt, real estate developers, representatives and owners of high-end villas, condos and residences in our destination would be frequent customers.
The Home Store
A national brand similar to Pottery Barn and Beth Bath & Beyond is The Home Store. This company owned by Grupo Gigante began operations in Mexico City in 2009 and since then, has expanded to 18 branches distributed across the Metropolitan Area of the Valle de México and cities such as Guadalajara, Monterrey, León and San Luis Potosí. Its uniqueness lies on its wide range of products for home furnishing and décor purposes, following the latest design trends and offering innovative solutions at affordable prices. Its price-quality ratio and service make it stand out among other similar stores and it could be a good alternative for those looking to decorate their home on a limited budget, which would be challenging at most interior design studios and furnishing stores located in the region.
Can you think of any other national or international commercial chain that you would like to see open in Puerto Vallarta and Riviera Nayarit? Share your thoughts below!