Nigerians are currently reacting to the news of Shoprite’s announcement that it is initiating an exit plan from Nigeria.
One of those who have reacted to the news is former Kaduna lawmaker, Shehu Sani.
Reacting to the news via his Twitter handle, Sani stated that Shoprite’s exit will help local supermarkets to grow.
He tweeted:
“If Shoprite wants to stay, they can stay; if they want to go, they can go; it will help local supermarkets to grow.
Recall that in November 2019, Shoprite had announced that it was reviewing its supermarket operations outside South Africa and would consider exiting certain countries if that would help reverse regional sales declines.
Shoprite has been battling currency-induced inflation surges in several other African countries.
International supermarkets (excluding Nigeria) contributed 11.6% to group sales, and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.
As a result of the COVID-19 lockdown, customer visits declined 7.4% but the average basket spend increased by 18.4%.
Shockingly, this comes just weeks after another popular retail store, Mr. Price Group announced plans to close its Nigerian business to focus on its home market business in South Africa.
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