Coca-Cola Femsa, S.A.B. de C.V. (KOF): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo da Coca-Cola Femsa, uma potência de bebidas que transforma o simples ato de beber em uma maravilha estratégica de negócios. Com operações abrangendo 13 Países latino -americanos e uma complexa rede de parcerias, canais de distribuição e estratégias inovadoras, esta empresa criou magistralmente um modelo de negócios que vai muito além da venda de refrigerantes. Desde ofertas localizadas de produtos até logística de ponta, a Coca-Cola FEMSA representa um estudo de caso fascinante de como um engarrafador regional pode criar um valor imenso no mercado competitivo de bebidas globais.

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negócios: parcerias -chave

A Coca-Cola Company (fornecimento de bebidas primárias e licenciamento de marcas)

A Coca-Cola Femsa possui direitos exclusivos de engarrafamento em vários países da América Latina. Em 2023, a parceria abrange territórios no México, Brasil, Colômbia, Argentina, Guatemala, Costa Rica, Nicarágua, Panamá e Uruguai.

Métrica de Parceria	2023 dados
Taxa anual de licenciamento paga	US $ 487,6 milhões
Volume de produtos da Coca-Cola distribuídos	3,1 bilhões de casos de unidade

Redes locais de engarrafamento e distribuição

A Coca-Cola Femsa mantém extensas redes de distribuição na América Latina.

• Centros de distribuição total: 94
• Rotas de distribuição: 277.000 quilômetros
• Veículos de entrega: 11.200

Fornecedores agrícolas

Parcerias críticas de matéria -prima para embalagem e fornecimento de ingredientes.

Categoria de fornecedores	Aquisição anual
Fornecedores de açúcar	1,2 milhão de toneladas métricas
Materiais de embalagem	US $ 623 milhões

Parceiros de varejo

Extensa rede de parcerias comerciais em vários canais.

• Cadeias de supermercados: 12.500 pontos de venda
• Lojas de conveniência: 8.700 locais
• Pequenos varejistas: 1,2 milhão de pontos de venda

Provedores de serviços de logística e transporte

Parcerias estratégicas, garantindo distribuição eficiente de produtos.

Métrica de logística	2023 desempenho
Despesas de transporte	US $ 412 milhões
Provedores de logística de terceiros	47 empresas contratadas

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negócios: atividades -chave

Produção de bebidas e engarrafamento

A Coca-Cola FEMSA opera 50 instalações de produção em 10 países na América Latina. A Companhia produziu 3,7 bilhões de casos unitários de bebidas em 2022. A capacidade anual de produção atinge aproximadamente 4,2 bilhões de casos de unidade.

Métrica de produção	2022 dados
Instalações totais de produção	50
Países de operação	10
Casos de unidade total produzidos	3,7 bilhões

Distribuição e vendas em vários mercados latino -americanos

A Coca-Cola Femsa atende 376 milhões de consumidores em toda a América Latina. A rede de distribuição da empresa cobre aproximadamente 2,7 milhões de pontos de venda.

• Alcance total do consumidor: 376 milhões
• Pontos de venda: 2,7 milhões
• Presença no mercado em países: México, Brasil, Colômbia, Argentina, Guatemala, Nicarágua, Costa Rica, Panamá, Venezuela e Uruguai

Marketing de marca e engajamento do consumidor

As despesas de marketing em 2022 foram de aproximadamente US $ 566 milhões. Os investimentos em marketing digital aumentaram 22% em comparação com o ano anterior.

Métrica de marketing	2022 Valor
Gastos totais de marketing	US $ 566 milhões
Crescimento de marketing digital	22%

Gestão da cadeia de abastecimento

A empresa gerencia uma complexa cadeia de suprimentos envolvendo 26 centros de distribuição e mais de 10.000 veículos de entrega. A taxa de eficiência logística é de 98,5%.

• Centros de distribuição: 26
• Veículos de entrega: 10.000+
• Eficiência logística: 98,5%

Inovação de produtos e desenvolvimento de portfólio

Em 2022, a Coca-Cola FEMSA lançou 15 novas variantes de produtos. O investimento em pesquisa e desenvolvimento atingiu US $ 42 milhões, com foco em bebidas com baixo teor de açúcar e funcionais.

Métrica de inovação	2022 dados
Variantes de novos produtos	15
Investimento em P&D	US $ 42 milhões

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negócios: Recursos -chave

Extensa infraestrutura de distribuição

Em 2023, a Coca-Cola Femsa opera em 10 países da América Latina, cobrindo 374 milhões de consumidores. A empresa gerencia uma rede de distribuição de 2,4 milhões de clientes diretos e pontos de venda.

Métrica de distribuição	Quantidade
Países serviram	10
População total de consumidores	374 milhões
Pontos diretos do cliente	2,4 milhões

Reconhecimento e licenciamento da marca

Coca-Cola Femsa Possui a maior franquia da Coca-Cola Bottler por volume de vendas na América Latina, representando 53% do volume total da empresa da Coca-Cola na região.

Instalações de fabricação

A empresa opera 68 fábricas de produção em seus territórios, com uma capacidade total de produção de 4,2 bilhões de casos de unidade anualmente.

Detalhes de fabricação	Especificação
Plantas de produção total	68
Capacidade de produção anual	4,2 bilhões de casos de unidade

Força de trabalho e experiência técnica

A Coca-Cola Femsa emprega aproximadamente 95.000 trabalhadores em seus territórios operacionais.

• Total de funcionários: 95.000
• Posse média dos funcionários: 8,5 anos
• Horário anual de treinamento por funcionário: 40 horas

Sistemas avançados de logística e tecnologia

A empresa investiu US $ 350 milhões em transformação digital e infraestrutura tecnológica entre 2020-2023.

Investimento em tecnologia	Quantia
Investimento de transformação digital (2020-2023)	US $ 350 milhões
Plataformas de vendas digitais	3 plataformas principais
Tecnologia de otimização de logística	Sistemas de roteamento orientados a IA

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

Ampla gama de produtos de bebidas para diversas preferências do consumidor

A Coca-Cola Femsa oferece 152 apresentações diferentes de bebidas em várias categorias a partir de 2023. O portfólio de produtos inclui:

• Refrigerantes carbonatados
• Água
• Sucos
• Chá
• Bebidas energéticas

Categoria de produto	Quota de mercado	Volume anual (milhões de casos de unidade)
Refrigerantes	68.5%	2,345
Água	15.3%	523
Outras bebidas	16.2%	552

Refrigerantes de alta qualidade e de marca consistentemente

Valor do portfólio de marcas em 2023: US $ 18,4 bilhões

Opções de bebidas convenientes e acessíveis

Cobertura de distribuição em 10 países com 1,7 milhão de pontos de venda ativos em 2023.

País	Pontos de varejo de venda
México	670,000
Brasil	420,000
Outros mercados	610,000

Ofertas de produtos localizadas adaptadas aos mercados regionais

A estratégia regional de adaptação de produtos implementada em 6 mercados diferentes com 37 variantes de sabor local exclusivas.

Rede de distribuição confiável e eficiente

Métricas operacionais para rede de distribuição em 2023:

• Centros de distribuição total: 94
• Tamanho da frota: 8.200 veículos
• Rotas de entrega diária: 24.500
• Eficiência média de entrega: 98,6%

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negócios: relacionamentos com o cliente

Engajamento direto do consumidor por meio de campanhas de marketing

A Coca-Cola FEMSA investiu US $ 324,7 milhões em despesas de marketing em 2022. A Companhia executou 1.247 campanhas de marketing direcionadas nos mercados latino-americanos.

Canal de marketing	Alcance da campanha	Investimento
Publicidade na televisão	62 milhões de espectadores	US $ 128,5 milhões
Marketing digital	43 milhões de impressões online	US $ 86,3 milhões
Publicidade fora de casa	5.672 outdoors	US $ 54,2 milhões

Programas de fidelidade e atividades promocionais

A Coca-Cola Femsa opera um programa de fidelidade abrangente, com 3,2 milhões de membros ativos nos mercados latino-americanos.

• Crescimento do Programa de Fidelidade: 18% ano a ano
• Taxa média de retenção de clientes: 72,4%
• Participação de campanha promocional: 1,6 milhão de clientes

Interação digital e de mídia social

Métricas de engajamento de mídia social para a Coca-Cola FEMSA em 2022:

Plataforma	Seguidores	Taxa de engajamento
Instagram	2,7 milhões	4.3%
Facebook	4,5 milhões	3.9%
Twitter	1,2 milhão	2.7%

Feedback do cliente e pesquisa de mercado

Coleta anual de feedback do cliente: 287.000 pesquisas diretas de consumidores realizadas em 2022.

• Índice de satisfação do cliente: 87,6%
• Sugestões de melhoria do produto implementadas: 64
• Orçamento de pesquisa de mercado: US $ 18,3 milhões

Estratégias de marketing personalizadas

Investimento em tecnologia de personalização: US $ 42,6 milhões em 2022.

Estratégia de personalização	Alcançar	Taxa de conversão
Campanhas de e -mail direcionadas	2,1 milhões de clientes	6.7%
Ofertas baseadas em localização	1,5 milhão de usuários móveis	5.3%
Recomendações de produtos personalizados	3,4 milhões de interações digitais	4.9%

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

Lojas de varejo e supermercados

A Coca-Cola Femsa atende a 3.706.984 pontos de venda na América Latina a partir de 2023. A empresa distribui através de principais redes de supermercados, incluindo Walmart, Soriana e Chedraui.

Mercado	Número de pontos de venda	Porcentagem de cobertura
México	1,542,376	41.6%
Brasil	842,309	22.7%
Outros países latino -americanos	1,322,299	35.7%

Lojas de conveniência e pequenas mercearias

A Companhia mantém relações diretas de distribuição com 2.103.456 mercearias pequenas e lojas de conveniência em seus mercados operacionais.

• Volume médio semanal de pedidos: 87 unidades por loja
• Representantes de vendas diretas visitam cada loja 2-3 vezes por semana

Máquinas de venda automática

A Coca-Cola FEMSA opera 672.543 máquinas de venda automática na América Latina em 2023.

Região	Número de máquinas de venda automática	Receita anual de venda
México	287,654	US $ 124,3 milhões
Brasil	215,987	US $ 98,6 milhões
Outros países	168,902	US $ 67,4 milhões

Representantes de vendas diretas

A empresa emprega 42.876 representantes de vendas diretas em seus territórios operacionais.

• O representante médio de vendas abrange 187 pontos de venda
• Vendas diárias médias Per REPRESENTANTE: US $ 3.456

Comércio eletrônico e plataformas online

As vendas digitais representam 6,2% da receita total da empresa, totalizando US $ 487,3 milhões em 2023.

Plataforma	Vendas digitais anuais	Taxa de crescimento
Site da empresa direta	US $ 129,4 milhões	17.3%
Comércio eletrônico de terceiros	US $ 357,9 milhões	22.6%

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

Consumidores urbanos e rurais em toda a América Latina

Em 2023, a Coca-Cola Femsa opera em 10 países da América Latina, atendendo a aproximadamente 297 milhões de consumidores. A cobertura do mercado da empresa inclui:

País	População servida	Distribuição urbana/rural
México	119 milhões	80% urbano, 20% rural
Brasil	84 milhões	87% urbano, 13% rural
Outros países latino -americanos	94 milhões	75% urbano, 25% rural

Diferentes faixas etárias e perfis demográficos

Segmentação de clientes por faixas etárias:

• 13-24 anos: 28% da base total de consumidores
• 25-40 anos: 35% da base total de consumidores
• 41-55 anos: 22% da base total de consumidores
• 56+ anos: 15% da base total de consumidores

Clientes comerciais e institucionais

Redução de segmentos de clientes comerciais:

Tipo de cliente	Número de clientes	Contribuição da receita
Restaurantes	126,000	22% da receita total
Lojas de conveniência	95,000	18% da receita total
Supermercados	45,000	15% da receita total

Setores de conveniência e serviço de alimentação

Distribuição entre os setores:

• Lojas de conveniência: 42% de penetração no mercado
• Restaurantes e cafés: 33% de penetração no mercado
• Catering institucional: 15% de penetração no mercado
• Outros canais de serviço de alimentação: 10% de penetração no mercado

Segmentos de mercado sensíveis ao preço e premium

Estratégia de preços de segmento de mercado:

Segmento	Faixa de preço	Quota de mercado
Sensível ao preço	$0.50 - $1.50	65% do volume total
Intervalo intermediário	$1.50 - $3.00	25% do volume total
Premium	$3.00 - $5.00	10% do volume total

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negócios: estrutura de custos

Aquisição de matéria -prima

A partir de 2023 Relatórios Financeiros, os custos de aquisição de matéria-prima da Coca-Cola FEMSA eram de aproximadamente US $ 4,2 bilhões anualmente. As principais matérias -primas incluem:

• Açúcar: US $ 1,1 bilhão
• Materiais de embalagem: US $ 1,3 bilhão
• Concentro: US $ 850 milhões

Categoria de matéria -prima	Custo anual (USD)	Porcentagem de compras totais
Açúcar	$1,100,000,000	26.2%
Materiais de embalagem	$1,300,000,000	31%
Concentrado	$850,000,000	20.2%

Despesas de fabricação e produção

As despesas totais de fabricação em 2023 foram de US $ 2,6 bilhões, com o colapso da seguinte maneira:

• Custos de mão -de -obra de produção: US $ 620 milhões
• Manutenção do equipamento: US $ 340 milhões
• Energia e serviços públicos: US $ 290 milhões

Custos de distribuição e logística

As despesas de distribuição de 2023 totalizaram US $ 1,8 bilhão, incluindo:

• Transporte: US $ 1,2 bilhão
• Operações de armazém: US $ 350 milhões
• Manutenção da frota: US $ 250 milhões

Investimentos de marketing e publicidade

As despesas de marketing em 2023 atingiram US $ 780 milhões, alocados da seguinte forma:

Canal de marketing	Gastos (USD)	Percentagem
Marketing digital	$312,000,000	40%
Mídia tradicional	$234,000,000	30%
Patrocínios	$156,000,000	20%

Pessoal e sobrecarga operacional

O pessoal total e os custos operacionais em 2023 foram de US $ 1,5 bilhão:

• Salários dos funcionários: US $ 980 milhões
• Despesas administrativas: US $ 350 milhões
• Treinamento e desenvolvimento: US $ 170 milhões

Estrutura de custo total para 2023: US $ 10,9 bilhões

Coca-Cola Femsa, S.A.B. de C.V. (KOF) - Modelo de negócios: fluxos de receita

Vendas de refrigerantes em várias linhas de produtos

Em 2023, a Coca-Cola FEMSA registrou vendas líquidas de 261.225 milhões de pesos mexicanos. O portfólio de refrigerantes da empresa inclui várias marcas em várias categorias.

Categoria de produto	Contribuição da receita
Bebidas de marca registrada da Coca-Cola	62,4% do volume total de bebidas
Sabores de marca registrada	22,1% do volume total de bebidas
Outras marcas	15,5% do volume total de bebidas

Água engarrafada e receitas de bebidas não carbonadas

As bebidas não carbonadas geraram 22.692 milhões de pesos mexicanos em receita para a empresa em 2023.

• Receita das marcas de água: 8.456 milhões de pesos mexicanos
• Segmento de suco e chá: 6.789 milhões de pesos mexicanos
• Sports and Energy Drinks: 7.447 milhões de pesos mexicanos

Acordos de licenciamento e franquia

A Coca-Cola Femsa opera sob um acordo de franquia com a Coca-Cola Company, cobrindo 10 países na América Latina.

País	Cobertura de franquia
México	Direitos territoriais completos
Brasil	Vários estados e regiões
Colômbia	Distribuição nacional

Diversificação do mercado geográfico

Em 2023, a Coca-Cola FEMSA gerou receitas em vários mercados:

• México: 46,3% da receita total
• Brasil: 23,7% da receita total
• Colômbia: 12,5% da receita total
• Outros mercados latino -americanos: 17,5% da receita total

Estratégias de preços entre segmentos de consumo

A empresa implementa estratégias de preços diferenciados com base no tamanho do pacote e no segmento de consumidores.

Tamanho do pacote	Faixa de preço médio
Pessoal (250ml)	1,50 - 2,50 USD
Família (2L)	2,50 - 4,00 USD
Multipacks	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.