Brazilian supermarket chain La Fiesta has been buying and selling its products in supermarkets and convenience stores across the country.
The chain has been growing in popularity in recent years with its fast food and convenience products such as bread, milk and ice cream.
La Fiesta’s chief executive, Fernando Ocampo, said in a statement that the company’s new business model allows the company to focus on the food, products and service it delivers to its customers.
“We have become a more diverse and competitive group of retailers and, thanks to this, we are able to offer more variety in our products and more flexibility in our pricing structure,” Ocampos said.
He said the company had to focus more on customer service, as well as on the health and nutrition of its employees.
Brazilian supermarkets are seeing a growing trend to offer convenience products like food and drink, which have become increasingly popular among consumers.
According to Euromonitor, convenience sales in Brazil grew by 7.5 percent last year, which is a slight decline from last year when sales rose by 7 percent.
A study published by the International Monetary Fund found that the average Brazilian was spending just $2.30 per day on groceries.
Fruit and nuts account for almost 90 percent of the food purchases at supermarkets, according to a report by the Federal University of São Paulo.
Ocampos added that the chain’s new model allows for greater flexibility in pricing.
While some customers may choose to spend more on certain products, the company has found that most customers prefer to buy a product for a cheaper price, Ocampoes said.
The chain, which operates in 14 countries and employs about 2,000 people, has expanded its footprint in recent months.
It bought grocery chain Amaretto in May and announced plans to expand into the Brazilian markets of Caracas and Sao Paulo.
La Fendi is the third Brazilian supermarket to buy the company in the last year.
In June, supermarket chain Unilever bought Sargento, which was the fourth supermarket chain to buy Sargento.