Mexican Lloyd’s goes to CES 2022 to resume its expansion to the United States and Canada

Lloyd’s is one of the few Mexican companies that will attend the CES 2022. The technology company for houses smart (smart homes) will return to fair in Las Vegas, Nevada, in the United States, to resume negotiations with a view to entering the US and Canadian markets.

The CES 2022, which will take place from January 5 to 8, will host for the fourth time the Lloyd’s booth, which is dedicated to the sale of devices to automate different tasks at home, such as lighting, security, temperature and other amenities, and that it has experienced a roller coaster of events in the last two years.

The CES 2020, the last face-to-face version of the fair, was a bittersweet experience for the company. While Lloyd’s managed to consolidate its entry into the Central and South American markets, by including Radioshack Latin America to its list of clients and opening a distribution center in Panama, the goal of entering the United States and Canada markets was frustrated by the distancing caused by the pandemic of Covid-19.

Lloyd’s had been close to selling its products through Best Buy, one of the largest technology retailers in the United States, but the pandemic caused the deal to fall through. Best Buy even closed all its operations in Mexico in early 2021.

A roller coaster

Although Lloyd’s did not access the US market in 2020 and despite the fact that the forecasts of its founder and director Salomón Saab for the duration of the pandemic were not encouraging, the company’s sales began to grow amid the confinement caused by the pandemic of Covid-19.

The e-commerce And the demand from people who wanted to automate lighting or security in their homes made a small smart bulb become a best seller on Good End 2021 and depleted inventories for four months. Between 2020 and 2021, the company’s digital sales grew between five and six times.

The success that Lloyd’s had thanks to the high demand for its products also became one of the causes of other types of problems that were related to the Covid-19 pandemic.

  1. Factories in China began to delay delivery times for goods more and more.
  2. When delivery times were normalized to between 60 and 75 days, the problems of logistics and the cost of renting containers arrived.
  3. The cost of transporting cargo from China went from 2,000 to more than $ 20,000 per container.

Karen Kurtz, commercial director of Lloyd’s, thinks that after a strong investment to grow its inventory in Mexico, the company is more prepared to withstand supply problems, even during the upcoming Chinese New Year celebrations, when many Chinese companies are seen forced to work fewer hours for more than a month.

11 million households

Neither the problems in the supply chain nor inflation discourage Salomon Saab, who is confident that, in the next four years, the sales of the smart home technology industry will grow 25% annually and that the number of households with this type of device in Mexico go from 5 to 11 million.

Lloyd’s is a company with 30 years in the Mexican market. Until a few years ago, it was mainly dedicated to the sale of products focused on security, such as cameras, alarms and sensors. It was in 2017 when the company decided to integrate a whole range of products aimed at what is known as the smart home (smart homes).

Lloyd’s devices allow automation of lighting, security and other variables through instructions and routines that can be programmed through the Lloyd’s Smart application. They can also be connected to smart speakers from Amazon, Google and Apple.

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