“As Nigeria’s economy g rows, a growing middle class is making more purchasing decisions based on convenience and experience. Many are choosing modern retail as a calmer, albeit more expensive, alternative than the traffic of the traditional markets,” noted AT Kearney in a study published in December.
Shoprite is poised for bigger things but it s slow pace i n establishing extensive presence in Nigeria could put it on the back foot. AT Kearney advises that companies “move quickly” if they want to enter or grow share there. Pick n Pay is sizing up Nigeria and so are overseas players. Shoprite is looking at expanding its distribution facilities there, Basson said.
He said Checkers, a star performer (which competes with Woolworths and Spar), remained underrepresented in many aff luent parts of SA.
Basson warned that “erratic loadshedding” and service delivery protests created challenges. They affected shopping patterns as well as consumer and investor confidence.
Supermarkets at home, which lifted turnover 12%, continued to lag their non-SA peers whose turnover surged 15.4% in constant currencies.