12.5%

Finweek English Edition - - IN THE NEWS -

growth.

“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.

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