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For many VC funds and ecosystem insiders, the online supermarket Jüsto could be the next unicorn from Latin America (to date, it has accumulated investment of US$244). The company, founded in 2019 and propelled during the pandemic, presents itself as the first fully online supermarket in Mexico, with no physical store. Also, as a platform that works only with local suppliers, with whom it prides itself on making fair agreements. Today they also operate in Brazil and Peru. Alejandro Sisniega, co-founder and Chief of New Business at Jüsto, answered our questionnaire.
In simple terms, what is Jüsto?
It is the first 100% digital Mexican supermarket that is revolutionizing the industry in Latin America through technology and fairer practices, with a value proposition that promotes a healthier lifestyle. It came to reinvent supermarket shopping more fairly with consumers and local producers. In the last year, it has grown by 500%, and, in addition to Mexico, it has a presence in Brazil and Peru.
How do you differ from others who have tried this idea before?
What differentiates us from others is our value offering and that we are in this business because we believe in it and do it aligned to a purpose beyond financial gain. We believe in the need and priority of being fair to all the players in this industry: suppliers and consumers.
How sustainable is it?
Within our impact strategy, the planet is one of the three pillars we focus on, in addition to people and commercial offerings. Therefore, we are building a more planet-friendly supermarket, encouraging responsible consumption through a business model that seeks to reduce waste, eliminate intermediaries, make conscious use of plastics, and use artificial intelligence to determine demand and thereby reduce shrinkage as much as possible. We currently have less than 3% shrinkage levels, which is less than half the industry average. We dream of and are actively working towards the day when our shrinkage will be 0%.
What achievement of the company are you most proud of?
Undoubtedly, the fact that we continue to grow and today, we are already close to 2,500 “justicieros” in Latin America, which is what we affectionately and out of conviction call our collaborators. For us, this growth means that more and more employees, consumers, and suppliers trust us. Above all, they share our conviction to build a fairer and more sustainable consumables model that empowers small and medium-sized producers by giving them access to an online sales channel.
What is Jüsto’s next step in LatAm?
Our mission is to become Latin America’s favorite supermarket in the next decade. We strongly believe that this vision, combined with our expertise in technology, logistics, and customer service, will lead to a more affordable online shopping experience for our consumers. We will remain focused on our long-term growth to continue contributing to the evolution of the industry, expanding this positive impact throughout the region through our business model that prioritizes fair practices.