In a turnaround process, the Via (VIIA3) is striving to increasingly expand and monetize the addressable market through digitization and increased omnichanneling.
According to Activates Investments, the company has shown a robust performance of digital channels in recent quarters that leaves it positioned to capture a new cycle of growth.
One of Via’s main strategies at the moment is also to open physical stores in new regions to transform them into distribution hubs.
The company strives to increase the seller base, as well as the number of categories offered, the number of SKUs (Stock Keeping Unit, or Stock Keeping Unit in Portuguese) and the experience of consumers within the marketplace.
Despite the improvements, Ativa sees a long road ahead for the company. The brokerage highlighted that the retailer has some challenges yet to be overcome, such as the completion of the restructuring of operations, and follows behind its competitors.
But it is possible to close the “gap” in relation to rivals. According to analyst Pedro Serra, Via may start operating with less discounted multiples as soon as it regains its leading position in physical retail and expands its participation in digital channels.
From this perspective, Ativa reiterated its recommendation to buy the share, with a target price of R$18.70.
Via is able to reach a large market of unbanked people with its financial BNQI, said Ativa. In the broker’s opinion, the company is on the way to creating a financial ecosystem involving sellers in its marketplace.
“Through the recent acquisitions of banQi and Celer, the company should expand the services offered, and be able to create an ecosystem around the marketplace sellers, in addition to being able to deliver services and credit to a part of the Brazilian population – still – unbanked” , said analyst Pedro Serra, in a report released yesterday.
In July, the company received final authorization from the Central Bank for the operation of BNQI, which is emerged as an offshoot of the purchase of banQi.
With the institution’s approval, BNQI, in addition to the traditional installment plan, will be able to carry out loan and financing operations for clients and partners.
Via’s financial solutions platform already offers the possibility of opening a digital account, installment plans, credit cards with the Casas Bahia and Ponto:> brands and Celer network operations. For banQi customers, the retailer offers personal loan.
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