Will FEMSA's Digital Push Through SPIN Unlock More Growth?

Fomento Economico Mexicano, S.A.B. de C.V. FMX, alias FEMSA, is strengthening its digital ecosystem through SPIN, aiming to deepen customer engagement and expand financial services opportunities across its OXXO network. The company’s digital initiatives continued to gain traction in the second quarter of 2026, with strong growth in Spin by OXXO and Spin Premia users. SPIN’s progress highlights FEMSA’s efforts to leverage its extensive retail footprint and frequent customer interactions to build a broader consumer platform.

Spin by OXXO grew 21.6% year over year and reached 17.6 million total acquired users in second-quarter 2026 from 14.5 million users in the year-ago quarter. Active users represented 65% of the total acquired base, rising 22.1% year over year to 11.5 million. User engagement also improved, with average monthly transactions increasing 61.5% year over year to 119.1 million in the quarter.

Meanwhile, Spin Premia continued expanding its loyalty ecosystem. Total acquired users reached 67.1 million in second-quarter 2026, up from 58.3 million in second-quarter 2025, while active users increased 9.4% year over year to 29.1 million. The average tender at OXXO Mexico reached 50.4%, reflecting growing integration of Spin Premia within customer transactions.

Beyond payments and loyalty, FEMSA is also advancing its digital financial services strategy. The company recently announced a strategic equity investment by QED Investors in its lending business, which is expected to complement its payments and loyalty offerings. FEMSA believes the combination of its customer reach, transaction data and consumer relationships with QED’s fintech expertise can support the development of scalable credit solutions in Mexico.

As FEMSA continues expanding SPIN’s capabilities, the platform could become an increasingly important driver of customer retention, transaction frequency and digital engagement across the company’s retail ecosystem. However, converting a growing user base into sustained financial contribution will remain the key to unlocking SPIN’s long-term potential.

FMX’s Zacks Rank, Valuation & Share Price Performance

Shares of this Zacks Rank #3 (Hold) company have lost 2.1% in the past three months, underperforming the industry and the broader Consumer Staples sector’s returns of 5.1% and 1.9%, respectively. The stock also lagged the S&P 500’s growth of 1.2%.

FMX Stock's 3-Month Performance

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From a valuation standpoint, FEMSA trades at a forward price-to-earnings ratio of 21.14X, higher than the industry’s average of 19.96X.

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Better-Ranked Stocks to Consider

The Vita Coco Company, Inc. COCO is the leading coconut water brand in the United States, leveraging its strong brand equity, expanding global presence and asset-light business model to capitalize on the growing demand for healthier hydration beverages. COCO currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Vita Coco’s 2026 sales and earnings suggests growth of 31.6% and 64.7%, respectively, from the year-ago reported figures. The company delivered a trailing four-quarter earnings surprise of 21.9%, on average.

The Coca-Cola Company KO remains a global beverage leader, supported by strong brands, disciplined execution and innovation aimed at sustaining consumer engagement across markets. At present, Coca-Cola carries a Zacks Rank of 2 (Buy).

The consensus estimate for Coca-Cola’s 2026 sales and earnings implies growth of 4% and 9.7%, respectively, from the year-ago reported figures. KO delivered a trailing four-quarter earnings surprise of 4.6%, on average.

The Chefs’ Warehouse, Inc. CHEF is a distributor of specialty food and center-of-the-plate products across the United States, Canada and the Middle East. At present, CHEF flaunts a Zacks Rank of 1.

The consensus estimate for Chefs’ Warehouse’s 2026 sales and earnings implies growth of 10.6% and 33.7%, respectively, from the year-ago reported figures. CHEF delivered a trailing four-quarter negative earnings surprise of 30.4%, on average.

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This article originally published on Zacks Investment Research (zacks.com).

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