The Home Improvement Market Opportunity in Mexico - Who is Going for the Gold?

Rhea-AI Summary

Pedro's List (OTC Pink: PDRO), a company providing technology tools and resources for homeowners to find local service professionals, launches new corporate website. The home improvement market in Mexico is projected to reach $13.57 billion by 2024.

Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - July 24, 2023) - Investorideas.com, a leading investor news resource covering tech and homebuilder stocks releases a special news report on the growing market opportunity for the home repair business in Mexico, featuring Pedro's List (OTC Pink: PDRO), a company that provides technology tools and resources to allow homeowners to find local, pre-screened, customer reviewed service professionals and instantly book appointments online or through the mobile application.

Read the full article on Investorideas.com

https://www.investorideas.com/News/2023/homebuilder/07240Home-Improvement-Market-Mexico.asp

According to Statista.com, "The market value of the home improvement market in Mexico reached 12.13 billion U.S. dollars in 2019. It was forecast that by the year 2024, this value would increase t0 13.57 billion U.S. dollars."

Based in Mexico and knowing first-hand the opportunity, Pedro's List Inc. (OTC Pink: PDRO) recently announced that it has launched its new corporate website at www.pedroslistinc.com. The new corporate website is intended to comply with all applicable disclosure standards, including investor access to the Company's filings with the Securities & Exchange Commission ("SEC"), stock price information and social media pages. The Company's provider and homeowner website remains unchanged at www.pedroslist.mx.

From the news: In addition, the Company's website has access to archived press releases and other relevant information, including a recent story in USA Today about the Company. Commenting on the new website, Pedro's founder & director Eden Miller stated: "Pedro's List is a transformative company that will soon positively impact the lives of millions of people every day. Our new website represents a small but significant step in introducing ourselves and our exciting company to our shareholders and the wider investor community. It also provides our valuable constituents with a window into current information about Pedro's List and keeps them informed about new developments and where we are headed. Over time, we intend to add additional features to our site to make it an even better resource for the public."

The Company announced the engagement of Think Ink Marketing Data & Email Services, Inc. ("Think Ink") to provide public relations services in an effort to increase public awareness of the Company. Think Ink is a California-based marketing firm established in 1991 that provides its customers with a complete range of marketing services that span both digital and direct mail venues. With its digital services ranging from data appending, email marketing and pay-per-click online banner and native ads, the company helps its clients reach a large network of potential investors. The Company has paid a fee of approximately $125,000 for the services of Think Ink, and additional funds may be paid as necessary. The Company will not issue any securities to Think Ink as compensation for its marketing services. As of the date hereof, to the Company's knowledge, Think Ink (including its directors and officers) does not own any securities of the Company and has an arm's length relationship with the Company.

Think Ink has and shall continue to, as appropriate, create campaigns, ad groups, text ads, display ads, perform detailed keyword research, setup and manage remarketing campaigns, optimize keyword options, coordinate online advertiser and marketers corresponding to online marketing targets, create landing pages for ad campaigns and generally bring attention to the business of the Company. The promotional activity undertaken by Think Ink will occur on www.markettactic.com, and at times by email and other social media.

"Taken together, the goal of the new corporate website and the retention of Think Ink is aimed at producing internal branding, web and marketing material as well as assisting with the coordination of advertising campaigns," believes Miller. "The Company looks forward to developing its brand image to be more in line with its current vision, first in Mexico and then in other non-USA based markets," concluded Miller.

According to ResearchandMarkets.com, looking at the global opportunity, "High internet penetration in developing countries and rapid adoption of online sales channels by the market players are expanding the consumers base and brand's visibility to every corner of the world. Also, the availability of D-I-Y (Do it Yourself) products in the market to allow consumers to personalize the home improvement and remodeling based on their requirements is expected to bolster the Global Home Improvement Market growth in the next five years."

Home Depot, reporting on its growth in Mexico said in December 2022, "Four new stores have joined The Home Depot Mexico family recently, bringing the store count in Mexico to 133. These new stores are: Gonzalitos in Monterrey, Nuevo León; Gómez Palacio in Gómez Palacio, Durango; Lázaro Cárdenas in Guadalajara, Jalisco; and Concordia in Apodaca, Nuevo León. Local officials joined our leadership teams for board cutting ceremonies to celebrate the grand openings."

From the news: These new stores represent an investment and commitment to the communities where they are located. For instance, to celebrate the opening of the Gonzalitos store, the company donated products to Back2Back México, a non-profit organization dedicated to serving the needs of orphaned and vulnerable children and their families.

"I am very excited to open four stores in Mexico in 2022 and close the year with 133. I want to thank all our associates for the extraordinary work they have done in these challenging years. We are going for more. We want to be even closer to our customers and therefore we will accelerate our expansion plan and reach 150 stores in less than 5 years. I am convinced that The Home Depot's best years in Mexico are yet to come," says Jose "Pepe" Rodriguez, President of Home Depot Mexico.

According to ecommeceguide.com "Home Depot Mexico exists in both brick and mortar stores across the country as well as through its only platform where customers can buy home supplies for bathrooms, decor, electrical, hardware, tools, lighting, yard, and more."

Looking at the Top 10 Mexican Ecommerce Sites, obviously Walmart, who provides some home improvement products made the list. Looking at the overall growth plan for Mexico, including bricks and mortar, RetailTouchPoints.com reports, "Walmex, Walmart's Mexico and Central America business, is planning to spend nearly $1.5 billion in the region in 2023. The investment, which is up 27% from the amount spent in 2022, will primarily be used to remodel and maintain existing stores while opening new locations, along with improvements to supply chain and technology."

Looking at the dollar value of the home improvement market in Mexico, Spectrum Brands Holdings, Inc., a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, announced in early June that it received clearance from the Mexican competition authority to sell the Company's Hardware and Home Improvement segment ("HHI") to ASSA ABLOY for $4.3 billion in cash, subject to customary adjustments.

From the news: The approval from the Mexican competition authority was the last regulatory approval required to complete this transaction.

On June 20^th, Spectrum announced the closing of the sale of the Company's Hardware and Home Improvement business ("HHI") to ASSA ABLOY.

Although several players are in the home improvement market in Mexico both online and in retail stores, there has not been a company solely targeting that market. A recent article featuring Pedro's List notes," Pedro's List isn't just the first home improvement and repair platform to launch in Mexico. Currently, there is no other company or competitor on the horizon. This creates a straightforward expectation that Pedro's List will dominate Mexico's $12.3 billion home improvement market over the coming years."

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FAQ

What is the company mentioned in the press release?

The company mentioned in the press release is Pedro's List (OTC Pink: PDRO).

What does Pedro's List provide?

Pedro's List provides technology tools and resources for homeowners to find local, pre-screened, customer reviewed service professionals and book appointments online or through the mobile application.

What is the projected value of the home improvement market in Mexico?

The home improvement market in Mexico is projected to reach $13.57 billion by 2024.

What is the new corporate website of Pedro's List?

The new corporate website of Pedro's List is www.pedroslistinc.com.

Where can investors access the company's filings with the SEC and stock price information?

Investors can access the company's filings with the Securities & Exchange Commission (SEC), stock price information, and social media pages on the corporate website.