As well as information that is currently available. As they revert to future
And now we're gonna pass on the floor to mister We can move On the next slide, we can move on. And before we, get into q and a. Just a second. It. Let's go. Okay. And, crossing through this Thank you. Pedro. Pedro. Pedro, you may proceed, please. Okay. Pedro?
Pedro, can you hear us? Since there didn't seem to be a big modification in the terms. Great. Very good. Very good. Thank you. From something Irma at Goldman Sachs. Irma Podge proceed.
Irma, we can proceed. How do we see this in the long term? Everything is correlated here to No. Our priority is the physical sales channel.
We got a nice day. Great. Thank you so much. Andrew. Good morning, Stanley.
Question from Andrew at Morgan Stanley. Andrew, you may proceed.
Hi. Thanks for the question. Most have been answered. I guess I'm just curious how you're thinking about the CapEx budget for 2025. There's been a couple of years of reduction.
Are there areas this year where you're potentially seeing room to cut more, looking to spend more? And, you mentioned with the focus on stores, I'm curious how the potential for new store growth features into the outlook, whether that's '25 or in the out years? Thanks again.
Oh, thank you, Andrew. My answer in Portuguese here. Okay? I believe you will receive translation. Right? Okay.
So So when we talk about the CapEx, if we we expect pretty much the same level of CapEx. So, yes, we do have a CapEx that's a little bigger for stores this year, but this is for refurbishing stores, not opening new stores. The opening stores have been taking place with support from industry. So we use retail media, which is what has helped us, to open up new stores without consuming our CapEx in the company. So we have the store.
We have the flagship here at the headquarters as well. Was a refurbishing, and I'll have 60% growth with just 20% more on the average price. So it's a big gain for the whole ecosystem. We'll have more megastores, but it's not gonna impact our CapEx. We do have CapEx for refurbishing work, for projects that are maybe less intense, let's say, than the big megastores like, but that do bring in improvements in the purchasing experience and revenue and margins for some stores.
So we'll have these are small refurbishing works that spend not too much cash. But one thing I also noticed is that the more assertive CapEx is norm is more effective because you can guarantee that the priority projects are delivered. When you try to do too much, the efficiency of the invested capital is also lower. So we evolved a lot with this in our technology processes when we really look at the governance and the management of each process. Some things that would generate some hiccups or fragilities, we were able to solve.
We were able to address a lot, gains in logistics also with WMS working well, which is gonna optimize a lot of of the capital invested in logistics. So maybe 400,000,000 RIA is a bit higher or lower is gonna be a level that's adequate for this for this company without going crazy. If interest rates go way down, of course, we'll take advantage to do a little more, but that's not the reality at the moment.
It's very clear. Thanks, Fernando.
Thank you very much.
Thank you, Andrew. Andrew. I have no other questions. So before passing the word back to you, I wanna thank everyone for their presence, thank our audience, and I'll pass the floor to you, Thank you, everyone, for participating today. I think, as we mentioned, January demonstrated a market share that was very strong, and there's this new fact with the engagement of everyone really reaching all time highs, we've been getting to great place to work all time employer, and engagement's also very high. We created a more efficient model with these tools to facilitate the sales. We're gaining 37% productivity, and we'll have another 20% this year.
And we're gonna really see a conclusion of this and re really rewrite this benchmark profitability. And we wanna thank everyone for their trust. We have a lot of work. Let's continue with our financial discipline, a lot of discipline in capital allocation so we can gradually improve and get to the other point with the possibility of, discussing a more intense expansion cycle. Thank you so much, everyone.
Have a great afternoon. Thank you. Bye bye, and come get to know our flagship store. Bye. Take care.