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InvestChile
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The U.S. shopping club will open in the first half of 2027 at Mall Plaza Los Dominicos, marking its first new store in fifteen years and its debut in a shopping mall.
The U.S. shopping club will open in the first half of 2027 at Mall Plaza Los Dominicos, marking its first new store in fifteen years and its debut in a shopping mall.
PriceSmart’s membership count currently stands at zero. The U.S.-based shopping club is preparing to debut in Chile at Mall Plaza Los Dominicos in the first half of 2027. Juan Pablo Valdés, the CEO of the brand’s Chilean branch, highlights two key milestones as the chain prepares for its launch: this will be the first PriceSmart store inside a shopping mall and the company’s first new market opening in fifteen years.
PriceSmart’s expansion into Chile began with Valdés, a former Cencosud executive, who was offered a position in 2025. After resigning from his 17-year tenure at the holding company, he arrived in Miami on August 24 to begin onboarding, which involved visits to Guatemala, Trinidad and Tobago, Colombia, San Diego, Jamaica, and other countries where the U.S. company operates. Overall, he says, the orientation focused on “unlearning the retail culture I previously had."
The operator’s proposed format is new to the Chilean market. “Essentially, we are not a supermarket, and we do not have customers. As a membership-based shopping club, we have members. We are not open to the general public; only registered members with a membership card may enter our clubs.”
While this model is new to Chile, it is not new to other countries on the continent. The U.S. chain currently operates 59 clubs across 13 markets and has more than 4 million members. Chile will be the 14th market. The company reports a 90% renewal rate, meaning 9 out of every 10 members renew their membership.
“Being part of a club is not just about the price of the products; it is also about being part of a rather special ecosystem that includes surrounding businesses. For example, we have a restaurant called Fresh Kitchen, and in many countries we also have auto repair shops where members can leave their car while they shop, as well as optical centers. All of these are part of the membership. So, it is not just about the product—it is the whole concept,” says Valdés.
Source: The Clinic.
