Freshmart Ends Operations in Peru Amid Market Challenges

Freshmart, the online supermarket that pioneered e-commerce in Peru, has announced it will shut down operations after eight years. Founded in 2016, Freshmart introduced an innovative model based on digital shopping, enabling customers to purchase essentials through its mobile app and platforms like Rappi. During the COVID-19 pandemic, the company experienced remarkable growth and drew the attention of Mexican group Jüsto, which acquired 100% of the company in 2021 as part of its strategy to expand across Latin America.

Following the acquisition, Jüsto invested $35 million in Freshmart’s relaunch, introducing initiatives such as “Club Fresh,” a loyalty program offering exclusive benefits to customers. In 2022, the company opened its first physical store in Miraflores, blending the convenience of digital commerce with in-person shopping. Despite these efforts and initial growth spurred by the pandemic, the company struggled to secure a foothold in a highly competitive market.

The decision to close was announced in a message sent to registered customers, where Freshmart expressed gratitude to those who had been part of its journey and highlighted its positive impact on the local ecosystem. Jüsto explained that the closure is part of a strategic restructuring to strengthen its presence in Mexico and plan future expansion into other regional markets.

The shutdown, which will happen gradually, involves liquidating inventory and ceasing operations both online and at the physical store.