Coca-Cola FEMSA, S.A.B. de C.V. (KOF): Modelo de Negocio Canvas [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Coca-Cola Femsa, una potencia de bebidas que transforma el simple acto de beber en una maravilla estratégica de negocios. Con operaciones que abarcan 13 Los países latinoamericanos y una compleja red de asociaciones, canales de distribución y estrategias innovadoras, esta compañía ha creado magistralmente un modelo de negocio que va mucho más allá de solo vender refrescos. Desde ofertas de productos localizados hasta la logística de vanguardia, Coca-Cola FEMSA representa un estudio de caso fascinante de cómo un embotellador regional puede crear un valor inmenso en el mercado competitivo de bebidas globales.

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocios: asociaciones clave

The Coca-Cola Company (suministro de bebidas primarias y licencias de marca)

Coca-Cola Femsa posee derechos de embotellado exclusivos en múltiples países de América Latina. A partir de 2023, la asociación cubre territorios en México, Brasil, Colombia, Argentina, Guatemala, Costa Rica, Nicaragua, Panamá y Uruguay.

Métrico de asociación	2023 datos
Tarifa anual de licencia pagada	$ 487.6 millones
Volumen de productos Coca-Cola distribuidos	3.1 mil millones de casos unitarios

Bottling y redes de distribución locales

Coca-Cola FEMSA mantiene extensas redes de distribución en América Latina.

• Centros de distribución totales: 94
• Rutas de distribución: 277,000 kilómetros
• Vehículos de entrega: 11,200

Proveedores agrícolas

Asociaciones críticas de materia prima para envasado y abastecimiento de ingredientes.

Categoría de proveedor	Adquisición anual
Proveedores de azúcar	1.2 millones de toneladas métricas
Materiales de embalaje	$ 623 millones

Socios minoristas

Una amplia red de asociaciones comerciales en múltiples canales.

• Cadenas de supermercados: 12,500 puntos de venta
• Tiendas de conveniencia: 8,700 ubicaciones
• Pequeños minoristas: 1.2 millones de puntos de venta

Proveedores de servicios de logística y transporte

Asociaciones estratégicas que garantizan una distribución eficiente de productos.

Métrica logística	2023 rendimiento
Gastos de transporte	$ 412 millones
Proveedores de logística de terceros	47 empresas contratadas

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: actividades clave

Producción de bebidas y embotellado

Coca-Cola FEMSA opera 50 instalaciones de producción en 10 países de América Latina. La Compañía produjo 3,7 mil millones de casos de bebidas unitarias en 2022. La capacidad de producción anual alcanza aproximadamente 4.2 mil millones de casos unitarios.

Métrica de producción	Datos 2022
Instalaciones de producción totales	50
Países de operación	10
Casos de unidades totales producidas	3.7 mil millones

Distribución y ventas en múltiples mercados latinoamericanos

Coca-Cola FEMSA sirve a 376 millones de consumidores en América Latina. La red de distribución de la compañía cubre aproximadamente 2.7 millones de puntos de venta.

• Alcance total del consumidor: 376 millones
• Puntos de venta: 2.7 millones
• Presencia del mercado en países: México, Brasil, Colombia, Argentina, Guatemala, Nicaragua, Costa Rica, Panamá, Venezuela y Uruguay

Marketing de marca y compromiso del consumidor

El gasto de marketing en 2022 fue de aproximadamente $ 566 millones. Las inversiones de marketing digital aumentaron en un 22% en comparación con el año anterior.

Métrico de marketing	Valor 2022
Gastos totales de marketing	$ 566 millones
Crecimiento del marketing digital	22%

Gestión de la cadena de suministro

La compañía administra una cadena de suministro compleja que involucra 26 centros de distribución y más de 10,000 vehículos de entrega. La tasa de eficiencia logística es del 98.5%.

• Centros de distribución: 26
• Vehículos de entrega: más de 10,000
• Eficiencia logística: 98.5%

Innovación de productos y desarrollo de cartera

En 2022, Coca-Cola Femsa lanzó 15 variantes de productos nuevos. La inversión de investigación y desarrollo alcanzó los $ 42 millones, centrándose en bebidas bajas en azúcar y funcionales.

Métrica de innovación	Datos 2022
Nuevas variantes de productos	15
Inversión de I + D	$ 42 millones

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: recursos clave

Infraestructura de distribución extensa

A partir de 2023, Coca-Cola FEMSA opera en 10 países de América Latina, cubriendo 374 millones de consumidores. La compañía administra una red de distribución de 2.4 millones de clientes directos y puntos de venta.

Métrico de distribución	Cantidad
Países atendidos	10
Población de consumo total	374 millones
Puntos directos del cliente	2.4 millones

Reconocimiento de marca y licencias

Coca-Cola Femsa posee la franquicia de embotelladores de Coca-Cola más grande por volumen de ventas en América Latina, lo que representa el 53% del volumen total de la compañía Coca-Cola en la región.

Instalaciones de fabricación

La compañía opera 68 plantas de producción en sus territorios, con una capacidad de producción total de 4.200 millones de casos de unidades anuales.

Detalle de fabricación	Especificación
Plantas de producción totales	68
Capacidad de producción anual	4.200 millones de casos unitarios

Fuerza laboral y experiencia técnica

Coca-Cola FEMSA emplea a aproximadamente 95,000 trabajadores en sus territorios operativos.

• Total de empleados: 95,000
• Promedio de la tenencia del empleado: 8.5 años
• Horas de capacitación anual por empleado: 40 horas

Sistemas avanzados de logística y tecnología

La compañía ha invertido $ 350 millones en transformación digital e infraestructura tecnológica entre 2020-2023.

Inversión tecnológica	Cantidad
Inversión de transformación digital (2020-2023)	$ 350 millones
Plataformas de ventas digitales	3 plataformas principales
Tecnología de optimización logística	Sistemas de enrutamiento impulsados ​​por la IA

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: propuestas de valor

Amplia gama de productos de bebidas para diversas preferencias del consumidor

Coca-Cola Femsa ofrece 152 presentaciones de bebidas diferentes en múltiples categorías a partir de 2023. La cartera de productos incluye:

• Refrescos carbonatados
• Agua
• Jugos
• Té
• Bebidas energéticas

Categoría de productos	Cuota de mercado	Volumen anual (millones de casos de unidades)
Refrescos	68.5%	2,345
Agua	15.3%	523
Otras bebidas	16.2%	552

Refrescos de alta calidad y marca consistentemente

Valor de cartera de marca en 2023: $ 18.4 mil millones

Opciones de bebidas convenientes y accesibles

Cobertura de distribución en 10 países con 1,7 millones de puntos activos de venta en 2023.

País	Puntos minoristas de venta
México	670,000
Brasil	420,000
Otros mercados	610,000

Ofertas de productos localizados adaptadas a los mercados regionales

Estrategia regional de adaptación de productos implementada en 6 mercados diferentes con 37 variantes únicas de sabor local.

Red de distribución confiable y eficiente

Métricas operativas para la red de distribución en 2023:

• Centros de distribución totales: 94
• Tamaño de la flota: 8,200 vehículos
• Rutas de entrega diarias: 24,500
• Eficiencia promedio de entrega: 98.6%

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: relaciones con los clientes

Compromiso directo del consumidor a través de campañas de marketing

Coca-Cola FEMSA invirtió $ 324.7 millones en gastos de marketing en 2022. La compañía ejecutó 1,247 campañas de marketing dirigidas en los mercados latinoamericanos.

Canal de marketing	Alcance de la campaña	Inversión
Publicidad televisiva	62 millones de espectadores	$ 128.5 millones
Marketing digital	43 millones de impresiones en línea	$ 86.3 millones
Publicidad fuera del hogar	5.672 vallas publicitarias	$ 54.2 millones

Programas de fidelización y actividades promocionales

Coca-Cola FEMSA opera un programa de lealtad integral con 3.2 millones de miembros activos en los mercados latinoamericanos.

• Crecimiento de membresía del programa de fidelización: 18% año tras año
• Tasa promedio de retención de clientes: 72.4%
• Participación promocional de la campaña: 1.6 millones de clientes

Interacción digital y de redes sociales

Métricas de compromiso de las redes sociales para Coca-Cola Femsa en 2022:

Plataforma	Seguidores	Tasa de compromiso
Instagram	2.7 millones	4.3%
Facebook	4.5 millones	3.9%
Gorjeo	1.2 millones	2.7%

Comentarios de los clientes e investigación de mercado

Recopilación anual de comentarios de los clientes: 287,000 encuestas directas de consumidores realizadas en 2022.

• Índice de satisfacción del cliente: 87.6%
• Sugerencias de mejora del producto implementadas: 64
• Presupuesto de investigación de mercado: $ 18.3 millones

Estrategias de marketing personalizadas

Inversión en tecnología de personalización: $ 42.6 millones en 2022.

Estrategia de personalización	Alcanzar	Tasa de conversión
Campañas de correo electrónico dirigidas	2.1 millones de clientes	6.7%
Ofertas basadas en la ubicación	1.5 millones de usuarios móviles	5.3%
Recomendaciones de productos personalizadas	3.4 millones de interacciones digitales	4.9%

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: canales

Tiendas minoristas y supermercados

Coca-Cola Femsa atiende a 3.706.984 puntos de venta minoristas en América Latina a partir de 2023. La compañía se distribuye a través de las principales cadenas de supermercados, incluidos Walmart, Soriana y Chedraui.

Mercado	Número de puntos de venta minoristas	Porcentaje de cobertura
México	1,542,376	41.6%
Brasil	842,309	22.7%
Otros países latinoamericanos	1,322,299	35.7%

Tiendas de conveniencia y pequeñas tiendas de comestibles

La compañía mantiene relaciones de distribución directa con 2,103,456 pequeñas tiendas de comestibles y tiendas de conveniencia en sus mercados operativos.

• Volumen de pedido semanal promedio: 87 unidades por tienda
• Representantes de ventas directas Visite cada tienda 2-3 veces por semana

Máquinas expendedoras

Coca-Cola FEMSA opera 672,543 máquinas expendedoras en América Latina en 2023.

Región	Número de máquinas expendedoras	Ingresos anuales de la venta
México	287,654	$ 124.3 millones
Brasil	215,987	$ 98.6 millones
Otros países	168,902	$ 67.4 millones

Representantes de ventas directas

La compañía emplea a 42,876 representantes de ventas directas en sus territorios operativos.

• El representante promedio de ventas cubre 187 puntos de venta minoristas
• Ventas diarias promedio por representante: $ 3,456

Plataformas de comercio electrónico y en línea

Las ventas digitales representan el 6.2% de los ingresos totales de la compañía, por valor de $ 487.3 millones en 2023.

Plataforma	Ventas digitales anuales	Índice de crecimiento
Sitio web de la compañía directa	$ 129.4 millones	17.3%
Comercio electrónico de terceros	$ 357.9 millones	22.6%

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: segmentos de clientes

Consumidores urbanos y rurales en América Latina

A partir de 2023, Coca-Cola FEMSA opera en 10 países de América Latina, atendiendo a aproximadamente 297 millones de consumidores. La cobertura del mercado de la compañía incluye:

País	Población atendida	Distribución urbana/rural
México	119 millones	80% urbano, 20% rural
Brasil	84 millones	87% urbano, 13% rural
Otros países latinoamericanos	94 millones	75% urbano, 25% rural

Diferentes grupos de edad y perfiles demográficos

Segmentación de clientes por grupos de edad:

• 13-24 años: 28% de la base total del consumidor
• 25-40 años: 35% de la base total del consumidor
• 41-55 años: 22% de la base total del consumidor
• 56+ años: 15% de la base total del consumidor

Clientes comerciales e institucionales

Desglose de segmentos de clientes comerciales:

Tipo de cliente	Número de clientes	Contribución de ingresos
Restaurantes	126,000	22% de los ingresos totales
Tiendas de conveniencia	95,000	18% de los ingresos totales
Supermercados	45,000	15% de los ingresos totales

Sectores de conveniencia y servicio de alimentos

Distribución entre sectores:

• Tiendas de conveniencia: 42% de penetración del mercado
• Restaurantes y cafés: 33% de penetración del mercado
• Catering institucional: 15% de penetración del mercado
• Otros canales de servicio de alimentos: 10% de penetración del mercado

Segmentos de mercado sensibles a los precios y premium

Estrategia de fijación de precios del segmento de mercado:

Segmento	Gama de precios	Cuota de mercado
Sensible a los precios	$0.50 - $1.50	65% del volumen total
De rango medio	$1.50 - $3.00	25% del volumen total
De primera calidad	$3.00 - $5.00	10% del volumen total

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: Estructura de costos

Adquisición de materia prima

A partir de 2023 informes financieros, los costos de adquisición de materias primas de Coca-Cola Femsa fueron de aproximadamente $ 4.2 mil millones anuales. Las materias primas clave incluyen:

• Azúcar: $ 1.1 mil millones
• Materiales de embalaje: $ 1.3 mil millones
• Concentrado: $ 850 millones

Categoría de materia prima	Costo anual (USD)	Porcentaje de adquisiciones totales
Azúcar	$1,100,000,000	26.2%
Materiales de embalaje	$1,300,000,000	31%
Concentrarse	$850,000,000	20.2%

Gastos de fabricación y producción

Los gastos de fabricación totales en 2023 fueron de $ 2.6 mil millones, con un desglose de la siguiente manera:

• Costos laborales de producción: $ 620 millones
• Mantenimiento del equipo: $ 340 millones
• Energía y servicios públicos: $ 290 millones

Costos de distribución y logística

Los gastos de distribución para 2023 totalizaron $ 1.8 mil millones, que incluyen:

• Transporte: $ 1.2 mil millones
• Operaciones de almacén: $ 350 millones
• Mantenimiento de la flota: $ 250 millones

Inversiones de marketing y publicidad

Los gastos de marketing en 2023 alcanzaron $ 780 millones, asignados de la siguiente manera:

Canal de marketing	Gasto (USD)	Porcentaje
Marketing digital	$312,000,000	40%
Medios tradicionales	$234,000,000	30%
Patrocinios	$156,000,000	20%

Personal y gastos generales operativos

El personal total y los costos operativos en 2023 fueron de $ 1.5 mil millones:

• Salarios de los empleados: $ 980 millones
• Gastos administrativos: $ 350 millones
• Capacitación y desarrollo: $ 170 millones

Estructura de costos totales para 2023: $ 10.9 mil millones

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negocio: flujos de ingresos

Ventas de refrescos en múltiples líneas de productos

En 2023, Coca-Cola FEMSA reportó ventas netas de 261,225 millones de pesos mexicanos. La cartera de refrescos de la compañía incluye múltiples marcas en varias categorías.

Categoría de productos	Contribución de ingresos
Bebidas de marca de Coca-Cola	62.4% del volumen total de bebidas
Sabores de marca registrada	22.1% del volumen total de bebidas
Otras marcas	15.5% del volumen total de bebidas

Agua embotellada e ingresos por bebidas no carbonatadas

Las bebidas no carbonadas generaron 22,692 millones de pesos mexicanos en ingresos para la compañía en 2023.

• Ingresos de las marcas de agua: 8,456 millones de pesos mexicanos
• Segmento de jugo y té: 6.789 millones de pesos mexicanos
• Bebidas deportivas y energéticas: 7.447 millones de pesos mexicanos

Acuerdos de licencia y franquicia

Coca-Cola Femsa opera bajo un acuerdo de franquicia con la Compañía Coca-Cola, que cubre 10 países de América Latina.

País	Cobertura de franquicia
México	Derechos territoriales completos
Brasil	Múltiples estados y regiones
Colombia	Distribución nacional

Diversificación del mercado geográfico

En 2023, Coca-Cola FEMSA generó ingresos en múltiples mercados:

• México: 46.3% de los ingresos totales
• Brasil: 23.7% de los ingresos totales
• Colombia: 12.5% ​​de los ingresos totales
• Otros mercados latinoamericanos: 17.5% de los ingresos totales

Estrategias de precios en los segmentos de los consumidores

La compañía implementa estrategias de precios diferenciadas basadas en el tamaño del paquete y el segmento de consumo.

Tamaño del paquete	Rango de precios promedio
Personal (250 ml)	1.50 - 2.50 USD
Familia (2L)	2.50 - 4.00 USD
Múltiples	5.00 - 8.00 USD

Coca-Cola FEMSA, S.A.B. de C.V. (KOF) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Coca-Cola FEMSA, S.A.B. de C.V. (KOF) products, which centers on unmatched reach, a broad selection, and strategic pricing for every consumer pocket. This value delivery is what keeps them the world's largest franchise bottler by sales volume.

Ubiquitous Availability

The primary value is getting the product into the consumer's hand, regardless of location. Coca-Cola FEMSA, S.A.B. de C.V. ensures its beverages are accessible across 10 Latin American countries. This massive footprint is supported by significant capital deployment to enhance physical reach.

The company is actively increasing its physical infrastructure to support this availability, planning for a 15% capacity increase by the end of 2025 from capacity expansion plans started the prior year. This involves installing new production lines; for instance, seven lines were installed across Mexico, Brazil, and Guatemala, with one in Colombia during the year leading up to mid-2024, to saturate current facilities before new greenfield sites are needed.

Diverse Product Portfolio

The value proposition isn't just one drink; it's a comprehensive beverage offering that captures demand across all consumption occasions. Coca-Cola FEMSA, S.A.B. de C.V. offers a winning portfolio that helps them gain share in key categories.

The portfolio includes:

• Sparkling beverages, including core Coca-Cola brands and flavors like Fanta and Sprite.
• Water products.
• Juices, such as Minute Maid.
• Energy drinks.
• Dairy-based beverages (implied through the breadth of the Coca-Cola System portfolio).

In the first nine months of 2025, the company reported total revenues of Ps. 213,984 million, demonstrating the breadth of this portfolio's revenue-generating power, even as consolidated volume declined by 2.8% over the same period.

Value and Affordability

Recognizing that consumers look for the best value equation, especially in softer macroeconomic environments, Coca-Cola FEMSA, S.A.B. de C.V. heavily leverages its price pack architecture. This is crucial for price-sensitive families and the traditional trade channel.

The focus on multi-serve and returnable packages is a direct response to this consumer need. Adjustments made to the price pack architecture in multi-serve refillable packs from July to September 2025 showed encouraging initial results, actively reversing volume declines in that segment.

Here's a look at the scale of their operations and recent volume performance:

Metric	Value/Amount	Period/Context
Consumers Served	More than 276 million	Annual Reach
Unit Cases Sold	Approximately 4.2 billion	Annual Volume
Q3 2025 Volume	423.0 million unit cases	Driven by growth in Brazil, Colombia, and Argentina
Total Revenues (9M 2025)	Ps. 213,984 million	Driven by revenue management initiatives

Low/No-Sugar Options

Catering to health-conscious consumers is a major value driver, with a clear commitment to low- and non-caloric products. The company reaffirms its commitment to promoting calorie reduction.

While the target for this segment is set within the context of over 35% of revenue contribution, the growth in specific zero-sugar products shows strong consumer adoption:

• Coca-Cola Zero Sugar grew 16.9% year-on-year in the third quarter of 2025.
• Coca-Cola Zero Sugar grew 23% versus the previous year in the third quarter of 2025.
• Coca-Cola Zero Sugar has grown more than 40% as compared with 2022.

This focus on healthier options is supported by commercial enablers like the Juntos+ digital platform, which surpassed 100,000 digital monthly active users in the third quarter of 2025.

Consistent Quality

Maintaining global brand standards across a vast, multi-country operation is a core value proposition, ensuring that a product bought in Mexico meets the same expectations as one bought in Brazil. This is achieved through their sophisticated local bottling and distribution network.

The company operates 56 manufacturing plants and 256 distribution centers as of 2025 filings, which are essential for maintaining this consistency while serving over 276 million consumers.

Coca-Cola FEMSA, S.A.B. de C.V. is recognized as the world's largest beverage bottler and marketer of the Coca-Cola System by sales volume, which inherently speaks to the scale and consistency of its operations.

Coca-Cola FEMSA, S.A.B. de C.V. (KOF) - Canvas Business Model: Customer Relationships

You're looking at how Coca-Cola FEMSA, S.A.B. de C.V. keeps its massive customer base engaged and buying, which is key since their total revenues for the first nine months of 2025 hit Ps. 213,984 million.

Dedicated Sales Force

The sales force relationship is now heavily augmented by technology. They use the Juntos+ Advisor tool, an AI model that helps the field teams tailor promotions directly to the retailer's needs. In Brazil, for example, this tool drove a 17% increase in average tickets for digital buyers in Q1 2025.

This approach supports the direct, personalized service model for small-format retailers, ensuring the human touch is informed by data. It's about making every interaction count, especially when volume is tight, as the consolidated volume declined 2.8% over the first nine months of 2025.

Digital Self-Service

The B2B platform, Juntos+, is central to managing the relationship with the small retailer, aiming to empower its 2 million small retailers. This platform is evolving from just ordering to a full relational ecosystem.

The adoption pace is fast; in the third quarter of 2025, Coca-Cola FEMSA reported surpassing 100,000 digital monthly active users on Juntos+, which was 25,000 more than the prior year. Furthermore, of those users, more than 73% were active on the app during that quarter.

The loyalty component, Premia Juntos+, is also driving frequency. As of Q3 2025, there are more than 46,000 clients actively redeeming points. This builds on the Q1 2025 figure where the loyalty program had 1.3 million enrolled customers with a 75% redemption rate.

Here's a quick look at the digital relationship metrics as of late 2025:

Digital Metric	Latest Reported Figure	Context/Period
Total Client Base Transacting Digitally	>60%	Q3 2025
Juntos+ Digital Monthly Active Users	>100,000	Q3 2025
Juntos+ App Active Users Percentage	>73%	Q3 2025
Premia Juntos+ Redeeming Clients	>46,000	Q3 2025
Juntos+ Active Users (All-time high)	1.3 million	End of 2024

Mass Marketing

The brand loyalty is supported by global and local advertising spend. For the full year 2024, marketing expenses totaled Ps. 4,827 million. The company is shifting focus, allocating over 30% of that 2024 spend to digital channels to reach consumers where they are.

Brand performance shows this is working in specific categories and regions. For instance, in the important market of Guatemala during Q3 2025, Coca-Cola Zero Sugar grew 16.9% year-on-year, while Fanta and Sprite grew 8.8% and 3.8%, respectively.

Digital Engagement

The success of the digital push is clear in the engagement numbers. You need to know that as of the third quarter of 2025, more than 60% of the total client base are digital monthly active buyers. That's a massive shift for a traditionally analog sector.

This high adoption rate is what helps the company maintain profitability even when volume is soft. For the first nine months of 2025, operating income still increased 4.3% despite the volume decline.

The digital engagement highlights include:

• >60% of the client base are digital monthly active buyers.
• Juntos+ v.4.0 reached 8 times more active users versus the previous year (Q2 2025).
• The platform connects directly with over 2.2 million points of sale.
• The company serves over 276 million consumers daily across its territories.

Customer-Centric Culture

The stated aim is to consolidate its position as the preferred commercial platform. This isn't just about transactions; it's about creating a comprehensive value proposition that links the bottler's growth directly to the success of its smallest clients. This culture is supported by significant investment; the capital expenditure planned for 2025 included substantial technology investments, part of a total CapEx of MXN$31.6 billion.

Coca-Cola FEMSA, S.A.B. de C.V. (KOF) - Canvas Business Model: Channels

You're looking at the sheer physical reach of Coca-Cola FEMSA, S.A.B. de C.V. (KOF), which is frankly massive. Their channel strategy is built on dominating the physical retail landscape while aggressively digitizing the ordering process. This dual approach is how they managed to grow Total Revenues to Ps. 213,984 million for the first nine months of 2025, even while consolidated volume declined by 2.8% over that same period.

The foundation of this reach is their physical network. Coca-Cola FEMSA, S.A.B. de C.V. markets and sells its products through approximately 2.2 million points of sale a year across its territories. This network spans every conceivable retail format.

• Traditional Trade: This includes the countless small-format stores, the local mom-and-pop shops, and neighborhood kiosks that form the backbone of commerce in Mexico and South America.
• Modern Trade: This segment covers the large-scale retail partners like supermarkets, hypermarkets, and the critical convenience store chains, such as OXXO, which are key volume drivers.
• Vending Machines: Strategic placement of vending machines ensures immediate consumption opportunities in high-traffic areas, though specific unit counts aren't publicly detailed in the latest reports.

The physical distribution backbone supporting this reach is substantial. Coca-Cola FEMSA, S.A.B. de C.V. operates 56 manufacturing plants and 256 distribution centers to service this vast network. The direct distribution relies on a sophisticated fleet of vehicles, which the company is optimizing using digital route planning to improve fuel consumption and capacity utilization.

The shift to digital is where you see the near-term action. Coca-Cola FEMSA, S.A.B. de C.V. is rapidly moving its B2B ordering onto its omnichannel platform, Juntos+. This isn't just an ordering portal; it's designed to integrate the physical and digital sales relationship to boost efficiency. The adoption rates show clear momentum as of late 2025.

Digital Channel Metric	Data Point (As of Late 2025 Reporting)	Context/Source Period
Total Client Base Digital Buyers	More than 60% of the total client base are digital monthly active buyers	Q3 2025
Juntos+ B2B Platform Active Users	More than 1.3 million active users	Reported in Q1 2025 results (Q4 2024 data)
Premia Juntos+ Loyalty Program Enrolled Customers	More than 1.3 million enrolled customers	Q1 2025
Premia Juntos+ Redemption Rate	75%	Q1 2025
Juntos+ User Growth (Latest Version)	8 times more active users versus the previous year	Q2 2025

The focus on digital tools like Juntos+ v 4.0 and the Juntos+ Advisor tool in Brazil is a direct response to market fragmentation. This digital push is defintely a necessary move to protect margins, as evidenced by the operating income growth of 6.8% in Q3 2025 despite a volume decline.

Coca-Cola FEMSA, S.A.B. de C.V. (KOF) - Canvas Business Model: Customer Segments

You're looking at the core of Coca-Cola FEMSA, S.A.B. de C.V.'s (KOF) business-who they are selling to right now in late 2025. It's a massive, diverse group, but the strategy clearly focuses on a few key profiles across its operating territories.

Youth and Young Adults (15-35)

This group is definitely the engine for the core sparkling portfolio, especially in Mexico. They drive the most volume. For instance, in its Mexican territory, this demographic accounted for an estimated 48% of sparkling beverage volume as of 2024, making them central to volume forecasting. They are also the early adopters for new product introductions, so their reception matters a lot for innovation success.

Middle to Lower-Middle Income Families

For families, value is king. This segment strongly influences the demand for larger, multi-serve packages designed for at-home consumption, which is a key part of the volume strategy. To address this price sensitivity, Coca-Cola FEMSA has been consolidating the execution of value-focused promotions, known as [Sección de Ahorros] sections, which were present in more than 87% of their customers by Q3 2025. Also, the single-serve mix reached 25.8% in Q3 2025, showing a continued focus on various package sizes.

Health-Conscious Consumers

This is a growing area where Coca-Cola FEMSA is strategically expanding its portfolio. Consumers here are actively seeking low-calorie and non-carbonated options, reflecting a broader market trend where shoppers want more for their health. Products targeting this group now represent over 35% of total revenue, a significant jump from 28% back in 2021. For context on a specific product, Coca-Cola Zero Sugar saw over 30% volume growth in 2024, showing strong traction in this area.

The company serves a huge number of people, and you can see the scale of the B2C reach here:

• B2C Reach: Over 276 million consumers across all territories.
• Total Annual Volume: Approximately 4.2-billion-unit cases sold annually.

B2B Retail Partners

While they sell to individuals, the route to market is heavily dependent on commercial partners, from small mom-and-pop shops to modern trade. These partners are crucial for getting product to the end consumer. Coca-Cola FEMSA engages this segment digitally to drive efficiency and loyalty.

B2B Metric	Data Point (as of late 2025/early 2025)
Total Points of Sale Served	Approximately 2.2 million
Juntos+ Digital Platform Active Users (Q1 2025)	Over 1.6 million points of sale engaged via Spin by Coca-Cola app (Q1 2025)
Juntos+ Monthly Active Buyers (Q3 2025)	More than 40% of the total client base
Premia Juntos+ Loyalty Program Enrolled Customers (Q1 2025)	Over 1.3 million

Geographically Diverse Markets

The customer base is spread across several major Latin American economies, though revenue concentration is high in the two largest markets. The company's ability to adapt its strategy, like emphasizing affordability in Argentina while seeing volume growth in Brazil, shows this geographic diversity is a key structural element.

Market Territory	Revenue Contribution (Q1 2025)	Q3 2025 Volume Performance
Mexico	Approximately 48% of total sales	Volume declined, soft macroeconomic backdrop
Brazil	Approximately 22% of total sales	Volume growth
Colombia	Part of the broader South America segment	Volume declined (Q2 2025), but saw growth in Q3 2025
Argentina	Part of the broader South America segment	Volume increased 2.9% in Q3 2025 despite complexity

Overall, the customer base requires a dual approach: high-volume, value-driven sales to families and young adults in Mexico, balanced with capturing growth from health-conscious consumers and maintaining strong digital relationships with the 2.2 million B2B partners.

Coca-Cola FEMSA, S.A.B. de C.V. (KOF) - Canvas Business Model: Cost Structure

You're looking at the major outflows that keep Coca-Cola FEMSA, S.A.B. de C.V. (KOF) running its massive operation across Latin America. Honestly, for a company this size, the cost structure is dominated by the physical movement of product and the ingredients to make it.

Cost of Goods Sold (COGS)

The cost of making the beverages is a primary expense. This includes concentrate purchased from The Coca-Cola Company, sugar, and the PET plastic for packaging. While raw material costs can fluctuate, Coca-Cola FEMSA has managed to improve its gross margin in some areas through hedging and favorable sweetener costs. For the full year 2024, the company achieved a strong 46.0% gross profit margin. However, in the third quarter of 2025, the consolidated gross margin contracted to 45.1%, driven by unfavorable mix and promotional activity, though this was partially offset by lower sweetener costs.

The cost structure here is sensitive to currency, as the depreciation of operating currencies against the U.S. dollar increases the cost of U.S. dollar-denominated raw materials.

Distribution and Logistics Costs

Moving product across the territories-serving over 272 million people through 2.1 million points of sale-is inherently expensive. This involves maintaining 249 to 256 distribution centers and a vast fleet for primary freight. The company has been actively investing to mitigate these costs; for instance, in Q3 2025, operating income improvements in South America were partly due to expense efficiencies such as lower freight costs. The capital expenditure plan for 2025 is heavily focused on increasing distribution capacity and efficiency.

Fixed Operating Costs

Fixed costs are substantial given the operational scale. Coca-Cola FEMSA operates 56 manufacturing plants across its territories. These facilities require ongoing maintenance, and the company carries significant labor costs. In Q3 2025, fixed costs like labor and depreciation were cited as factors causing gross margin contraction. Specifically, operating income in one division was partially offset by an increase in expenses such as labor, IT, and depreciation in the third quarter of 2025.

Here's a quick look at some key financial metrics from the latest reported periods:

Cost/Expense Category Metric	Latest Reported Value	Period/Context
Gross Profit Margin	46.0%	Full Year 2024
Consolidated Gross Margin	45.1%	Q3 2025
Operating Income Growth (Currency Neutral)	7.0%	Q3 2025 Consolidated
Comprehensive Financing Result Expense	Ps. 1,290 million	Q3 2025
Interest Expense, Net	Ps. 1,322 million	Q3 2025

Marketing and Advertising Expenses

These costs are often shared or coordinated with The Coca-Cola Company. While the company aims for cost efficiencies, marketing is also a key lever for growth. In Q2 2025, higher expenses including marketing partially offset operating income gains in one division. Conversely, in Q3 2025, marketing efficiencies contributed to operating income expansion in the South America division. The company leverages its digital platform, Juntos+, to drive customer engagement, which is part of the commercial execution strategy.

Financial Costs

Interest expense on debt is a notable outflow. The comprehensive financing result recorded an expense of Ps. 1,290 million in the third quarter of 2025, up from Ps. 823 million in the prior year period. This jump was mainly driven by a higher interest expense, net, reaching Ps. 1,322 million compared to Ps. 1,059 million in Q3 2024. This increase reflects the cost of new debt, specifically the US$500 million senior notes issued in May 2025, coupled with rising interest rates in markets like Brazil and new financing activities in Colombia and Argentina.

The company noted it is committed to optimizing its capital structure, targeting a 2x Net Debt/EBITDA ratio (excluding Coca-Cola FEMSA itself, which is a bit confusing, but implies a leverage target). You should definitely track the impact of the May 2025 bond issuance on future interest payments.

• Labor costs are a recurring fixed expense, mentioned alongside maintenance and IT as rising expenses in Q3 2025.
• Depreciation is a non-cash fixed cost that still impacts operating metrics.
• The company is managing its cost-to-serve by improving logistics, aiming for reductions in primary freight costs and third-party warehouse expenses through CapEx investments.

Finance: draft 13-week cash view by Friday.

Coca-Cola FEMSA, S.A.B. de C.V. (KOF) - Canvas Business Model: Revenue Streams

Sale of Sparkling Beverages: Primary revenue source from Coca-Cola trademark products.

Sale of Non-Carbonated Beverages: Revenue derived from juices, water, teas, and energy drinks.

Revenue Management Initiatives: Driving price/mix growth to offset volume decline.

The performance of revenue streams for the first nine months of 2025 reflects a strategy focused on pricing power over volume expansion, as noted by the CEO.

• Mitigation actions implemented to adapt to the environment.
• Focus on productivity and cost control measures.
• Leveraging revenue management initiatives across territories.

Key financial figures related to revenue streams as of late 2025 are detailed below:

Metric	Value
Total Revenues (9M 2025)	Ps. 213,984 million
Year-over-Year Revenue Increase (9M 2025)	5.0%
Trailing Twelve Months Revenue (Sep 2025)	Approximately $14.92 Billion USD
Q3 2025 Revenue	Ps. 71,884 million
Revenue Growth (Currency Neutral Basis, 9M 2025)	5.7%

The increase in Total Revenues for the first nine months of 2025 was driven mainly by revenue management initiatives, partially offset by volume decline and the unfavorable translation effect from the Argentine Peso into Mexican pesos.