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Woolsworth Set To Exit Nigeria. - Business (2) - Nairaland

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Nigeria's Stocks Fall To Three-year Low As Foreigners Exit / Comandclem $227 Billion Royalties: Can Nigeria Celebrate Exit Of Poverty? / Ghana In Tacit Anti Nigerian Business Stance,glo Confirms Exit Plan •83 Nigeria (2) (3) (4)

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Re: Woolsworth Set To Exit Nigeria. by yomalex(m): 2:15pm On Nov 08, 2013
go and come in 5 years time
Re: Woolsworth Set To Exit Nigeria. by Caliente(m): 2:21pm On Nov 08, 2013
Their not-great-looking merchandise is highly over prized. They think they can exploit us to like their brother mtn. Mtn's product and service is essential, theirs is not, hence the low patronage. Yaba dey there lol.
Re: Woolsworth Set To Exit Nigeria. by AjanleKoko: 2:25pm On Nov 08, 2013
It's not every business that will be able to work in Nigeria, and it's not practically possible to customize our business to suit every foreign conglomerate. After all, Pep, Mr Price, and Max are now here.

Fact is, the retail clothing industry in Nigeria still has a lot of work required, before critical mass can be attained. That is just the way it is.

1 Like

Re: Woolsworth Set To Exit Nigeria. by kcjazz(m): 2:25pm On Nov 08, 2013
If you are a mass cloth retailer and want to succeed in Nigeria, the simple thing is to source from Nigerian designers. Importing will ruin your costs and the cloths. Go local and run a mean supply chain like Uniqlo. Shoprite succeeds because it sources a large portion from Nigeria at good prices.
Re: Woolsworth Set To Exit Nigeria. by Nobody: 2:25pm On Nov 08, 2013
Please don't forget to announce the date for clearance sales!!!

4 Likes

Re: Woolsworth Set To Exit Nigeria. by Emytexboy(m): 2:35pm On Nov 08, 2013
cheesycheesycheesycheesycheesycheesycheesycheesy
Re: Woolsworth Set To Exit Nigeria. by Nobody: 2:47pm On Nov 08, 2013
you are so on point. you dont come to Nigeria with hyping of product and price, and you think u would succeed. I wanted to buy just two bum shorts for my wife. They prices were 9k each. so 18k for just two bum shorts! I told the sales girl, "i doubt if you guys are ready to do business in Nigeria.: Now here it is..
engrfcuksmtin: Their goods are too expensive the first and the last time I went to one of their outlets I emptied my pocket on few purchase that I would have bought at 35% less than their price. Make them they go joor.
Re: Woolsworth Set To Exit Nigeria. by Eneze1(f): 2:56pm On Nov 08, 2013
their things are just too expensive and the quality is undecided, even in South Africa their things are expensive compared to other retail shops
Re: Woolsworth Set To Exit Nigeria. by Rossikk(m): 3:00pm On Nov 08, 2013
They took Nigerians for granted and just assumed that posting the name ''Woolworths'' on their shop front would get thousands trooping in to buy. Yeye people.
Re: Woolsworth Set To Exit Nigeria. by sunnshyn(f): 3:01pm On Nov 08, 2013
Truth be told...the Woolworths brand isn't meant for Blacks...their clothes are beyond bland I tell u...though of good quality...Nigerians in particular are HIGHLY fashionable people. We like bright coloured clothes that's trendy with modern and beautiful styles and cuts.

Evn in South Africa here, majority of people who shops at woolworths are whites and they buy on credit so also with the few blacks...The credit structured economy of South Africa favours most retailers, whereby the citizens buy these clothes and the funds deducted from their account each and every month...

When I heard Woolworths was in Nigeria, I went - huh? Who's gonna buy them bland looking clothes? Lol. I'm not surprised they are running away now. It is better for them really, 'cos I'm not sure they would be able to come down on their prices and most Nigerians wouldn't rather shop abroad than buy Woolworths brand.

Personally, I wouldn't want to be caught dead in some of Woolworths clothes and shoes.
Re: Woolsworth Set To Exit Nigeria. by Egbagirl(f): 3:25pm On Nov 08, 2013
sunnshyn: Truth be told...the Woolworth brand isn't meant for Blacks...their clothes are beyond bland I tell u...though of good quality...Nigerians in particular are HIGHLY fashionable people. We like bright coloured clothes, modern and beautiful styles and cuts.

Evn in South Africa here, majority of people who shops at woolworths are whites and they buy on credit so also with the few blacks...The credit structured economy of South Africa favours most business owners, whereby the citizens buy these clothes and the funds deducted from their account each and every month...

When I heard Woolworths was in Nigeria, I went - huh? Who's gonna buy them bland looking clothes? I'm not surprised they are running away now. Its better for them really. Personally, I wouldn't wear some of what Woolworth sells, not even for free.

I totally agree. Their clothes are not nice at all. I mean you don't have to have all the prints in the world but there is no style attached to their products. I doubt if I have ever bought anything from those guys.
Re: Woolsworth Set To Exit Nigeria. by livingstoneony(m): 3:32pm On Nov 08, 2013
they should go away their items are too expensive...
Re: Woolsworth Set To Exit Nigeria. by Burger01(m): 3:35pm On Nov 08, 2013
Bon Voyage!

sad
Re: Woolsworth Set To Exit Nigeria. by stitcheD(m): 3:43pm On Nov 08, 2013
They should go joor! Haba! Local industries no go thrive again?
Re: Woolsworth Set To Exit Nigeria. by lekkie073(m): 3:54pm On Nov 08, 2013
woolsworth.....home of substandard fabrics....bye bye....
Re: Woolsworth Set To Exit Nigeria. by meine: 3:58pm On Nov 08, 2013
When will MTN, MULTICHOICE,STANBIC, ETC close shop and go home? The Nigerian business climate has been hostile before i was born so we don't need this story. There is something called "Adaptability to the local market" and that is what Woolworth has failed to do when they got here.
Re: Woolsworth Set To Exit Nigeria. by sunnshyn(f): 4:03pm On Nov 08, 2013
meine: When will MTN, MULTICHOICE,STANBIC, ETC close shop and go home? The Nigerian business climate has been hostile before i was born so we don't need this story. There is something called "Adaptability to the local market" and that is what Woolworth has failed to do when they got here.

If Multichoice, Stanbic and MTN closes and goes home what happens to the numerous Nigerians being employed there? I'm sure you have at least one relative in one of these firms?

Let's reason and talk objectively abeg
Re: Woolsworth Set To Exit Nigeria. by Nobody: 4:05pm On Nov 08, 2013
Egba girl:

I totally agree. Their clothes are not nice at all. I mean you don't have to have all the prints in the world but there is no style attached to their products. I doubt if I have ever bought anything from those guys.
depends on what ur going for,I have been patronizing them cos of their high quality rugged jeans,den some shirts,their shoes are wack,dey need to re-structure their clothes to suit the naija market.

1 Like

Re: Woolsworth Set To Exit Nigeria. by Nobody: 4:54pm On Nov 08, 2013
Rent is seriously very high in Nigeria. Most businesses are struggling in this country...

It only takes a business genius like dangote to succeed very well. Nigerian business men should look the way of agriculture. that is the only business that the government supports in nigeria. It is free of tax except at the distribution chain..
Re: Woolsworth Set To Exit Nigeria. by Egbagirl(f): 5:03pm On Nov 08, 2013
hisson3: depends on what ur going for,I have been patronizing them cos of their high quality rugged jeans,den some shirts,their shoes are wack,dey need to re-structure their clothes to suit the naija market.

That's fair but for women's clothing, the clothes are not appealing to the eyes at all especially with the way naija women like to fashionistas. hahaha, wrong market
Re: Woolsworth Set To Exit Nigeria. by Nobody: 5:46pm On Nov 08, 2013
Litmus: Probably easy for them to do since -so i have learned on Niraland - Nigerians travel a lot to Ghana.


If Nigerians get sense, they should stop going to Ghana.


Excuse me,uve got shit in ur mouth
Re: Woolsworth Set To Exit Nigeria. by Nobody: 7:09pm On Nov 08, 2013
you need to visit shoprite enugu,with so many unoccupied spaces,the problem of high rental cost should be addressed,the mall developers obviously want to recoup their investment immediately!

By the way i visited woolsworths and their prices are quite expensive for the average nigerians undecided

1 Like

Re: Woolsworth Set To Exit Nigeria. by sweetcheecks(f): 10:18pm On Nov 08, 2013
I am not sure where Woolies planned to get the numbersfrom when the avarage Nigerian spends less than a dollar a day. Niaja might have the numbers but priority plays a big role in the purchasing decision. Shoprite could strive in such market as they are 1) a groceries/food store so a number 1 priority than clothing store and 2) Low/mass market target audience. While Woolies sellsfood it is for an affluent market.

Having said that I forsee many South African retailers pulling out of Nigeria as they begin to spread globally. Woolworths has bought an Australian chain store two years ago and are doing amazingly well in that market might as well target such markets including Asia for future growths. South African companies seem to be doing well in Asia especially taking advantage of the membership as part of BRICS.

And again, it is so unfortunate as SA has been one of the countries that went all out to invest in Nigeria forsaking all doomsday prophesies. Their folding will send wrong signals to weary and sceptical investors inhibiting Nigeria's development in every way that count. Invesors rarelly go where others have failed. The Nigerian government better get involved in this now before its too late. Becouse Woolworths might be too expensive as a result of the high rental costs. They are not a cheap store but they are a value for money store as the sell quality.

2 Likes

Re: Woolsworth Set To Exit Nigeria. by pouch(f): 10:37pm On Nov 08, 2013
The only thing fantastic about Woolworths is their price, very very expensive. Are they the only business renting expensive malls in Nigeria. They should review their pricesor no business for them
Re: Woolsworth Set To Exit Nigeria. by sweetcheecks(f): 10:38pm On Nov 08, 2013
sunnshyn: Truth be told...the Woolworths brand isn't meant for Blacks...their clothes are beyond bland I tell u...though of good quality...Nigerians in particular are HIGHLY fashionable people. We like bright coloured clothes that's trendy with modern and beautiful styles and cuts.

Ev[b]n in South Africa here, majority of people who shops at woolworths are whites and they buy on credit so also with the few blacks...[/b]The credit structured economy of South Africa favours most retailers, whereby the citizens buy these clothes and the funds deducted from their account each and every month...

When I heard Woolworths was in Nigeria, I went - huh? Who's gonna buy them bland looking clothes? Lol. I'm not surprised they are running away now. It is better for them really, 'cos I'm not sure they would be able to come down on their prices and most Nigerians wouldn't rather shop abroad than buy Woolworths brand.

Personally, I wouldn't want to be caught dead in some of Woolworths clothes and shoes.

The bold s not true Woolworths would not survive with the white market alone. The truth is SA Blacks are the mojor patrons of woolworths especially when one is looking for quality wares for home, self and kids. It is not a store positioned for mass market like Mr Price or PEP stores but a great store for even mass market when looking for an attire for special occassions.

Their clothes are awesom you could compare them to Uk & US department stores. They are more into style and quality rather than over the top fashion.

You are right on the credit side credit also allows a broader market to afford their goods.
Re: Woolsworth Set To Exit Nigeria. by sweetcheecks(f): 10:46pm On Nov 08, 2013
pouch: The only thing fantastic about Woolworths is their price, very very expensive. Are they the only business renting expensive malls in Nigeria. They should review their pricesor no business for them

I just think they are not suited for the Nigerian market. Also they pride themselves on best service and the transport issues and importation taxes are adding to their headache. They should look towards Asia and Europe.

I think they took it for granted that since they are allover Southern Africa ( Botswana, Namibia and Kenya ) they would also be a success in Nigeria. But The malls need to decrease rheir rentals becouse the more the rental the more the price to the consumer.Simple economics.

The Nigerian government must be carefull and take care of business feedback into the market. First it was Virgin that had a very negetive feedback on challenges of doing business in Nigeria and if SA companies follow with the same it will take a miracle to bring other investors to the country.

1 Like

Re: Woolsworth Set To Exit Nigeria. by Rossikk(m): 10:51pm On Nov 08, 2013
[quote author=Ahmeduana][/quote]

I take it you are the lower class.
Re: Woolsworth Set To Exit Nigeria. by Rossikk(m): 10:57pm On Nov 08, 2013
sweetcheecks: I am not sure where Woolies planned to get the numbersfrom when the avarage Nigerian spends less than a dollar a day. Niaja might have the numbers but priority plays a big role in the purchasing decision. Shoprite could strive in such market as they are 1) a groceries/food store so a number 1 priority than clothing store and 2) Low/mass market target audience. While Woolies sellsfood it is for an affluent market.

Having said that I forsee many South African retailers pulling out of Nigeria as they begin to spread globally. Woolworths has bought an Australian chain store two years ago and are doing amazingly well in that market might as well target such markets including Asia for future growths. South African companies seem to be doing well in Asia especially taking advantage of the membership as part of BRICS.

And again, it is so unfortunate as SA has been one of the countries that went all out to invest in Nigeria forsaking all doomsday prophesies. Their folding will send wrong signals to weary and sceptical investors inhibiting Nigeria's development in every way that count. Invesors rarelly go where others have failed. The Nigerian government better get involved in this now before its too late. Becouse Woolworths might be too expensive as a result of the high rental costs. They are not a cheap store but they are a value for money store as the sell quality.

So Nigerians spend ''a dollar a day'' yet Shoprite and others are moving in and thriving... Does anything cost one dollar in Shoprite? Think before typing.

1 Like

Re: Woolsworth Set To Exit Nigeria. by Rossikk(m): 10:57pm On Nov 08, 2013
sweetcheecks: I am not sure where Woolies planned to get the numbersfrom when the avarage Nigerian spends less than a dollar a day. Niaja might have the numbers but priority plays a big role in the purchasing decision. Shoprite could strive in such market as they are 1) a groceries/food store so a number 1 priority than clothing store and 2) Low/mass market target audience. While Woolies sellsfood it is for an affluent market.

Having said that I forsee many South African retailers pulling out of Nigeria as they begin to spread globally. Woolworths has bought an Australian chain store two years ago and are doing amazingly well in that market might as well target such markets including Asia for future growths. South African companies seem to be doing well in Asia especially taking advantage of the membership as part of BRICS.

And again, it is so unfortunate as SA has been one of the countries that went all out to invest in Nigeria forsaking all doomsday prophesies. Their folding will send wrong signals to weary and sceptical investors inhibiting Nigeria's development in every way that count. Invesors rarelly go where others have failed. The Nigerian government better get involved in this now before its too late. Becouse Woolworths might be too expensive as a result of the high rental costs. They are not a cheap store but they are a value for money store as the sell quality.

So Nigerians spend ''a dollar a day'' yet Shoprite and others are moving in and thriving... Does anything cost one dollar in Shoprite? Think before typing.

1 Like

Re: Woolsworth Set To Exit Nigeria. by sweetcheecks(f): 11:02pm On Nov 08, 2013
Rossikk:

So Nigerians spend ''a dollar a day'' yet Shoprite and others are moving in and thriving... Does anything cost one dollar in Shoprite? Think before typing.

Mr Rossikk, stop being emotional about everything we all relly on global stats to understand the economies/markets of different countries. Unless you have different stats from an alternative research you have personally commissioned we will continue to use the given one whether you agree or not. Unfortunately your word or thoughts ( mine or yours) matters not. undecided
By the way I said ""an average nigerian".
Re: Woolsworth Set To Exit Nigeria. by Rossikk(m): 11:15pm On Nov 08, 2013
sweetcheecks:

Mr Rossikk, stop being emotional about everything we all relly on global stats to understand the economies/markets of different countries. Unless you have different stats from an alternative research you have personally commissioned we will continue to use the given one whether you agree or not. Unfortunately your word or thoughts ( mine or yours) matters not. undecided
By the way I said ""an average nigerian".

I think it's you being ''emotional''. Firstly, common sense should tell you the average Nigerian can NEVER be on a budget of ''a dollar a day'' (ie N150 a day) and yet the streets are not filled with starving kids, ambulances, and aid trucks from UNICEF, Save The Children, Red Cross etc. The average street beggar in Nigeria makes over 150 naira every hour. So who are the ''average Nigerians'' earning 150 Naira a day? Show me them. Where are they?

Just because some western organisation brandishes a figure doesn't mean you need to parrot it thoughtlessly even where it clearly makes no sense. You should have the independence to tell them their figures are garbage. It's not as if you can't analyse the Nigerian economy without using their bogus figures.


The Myth of ''a dollar a day'':

http://www.questia.com/library/1G1-140998449/the-myth-of-living-on-a-dollar-a-day

2 Likes

Re: Woolsworth Set To Exit Nigeria. by 14(m): 1:17am On Nov 09, 2013
sweetcheecks: I am not sure where Woolies planned to get the numbersfrom when the avarage Nigerian spends less than a dollar a day. Niaja might have the numbers but priority plays a big role in the purchasing decision. Shoprite could strive in such market as they are 1) a groceries/food store so a number 1 priority than clothing store and 2) Low/mass market target audience. While Woolies sellsfood it is for an affluent market.

Having said that I forsee many South African retailers pulling out of Nigeria as they begin to spread globally. Woolworths has bought an Australian chain store two years ago and are doing amazingly well in that market might as well target such markets including Asia for future growths. South African companies seem to be doing well in Asia especially taking advantage of the membership as part of BRICS.

And again, it is so unfortunate as SA has been one of the countries that went all out to invest in Nigeria forsaking all doomsday prophesies. Their folding will send wrong signals to weary and sceptical investors inhibiting Nigeria's development in every way that count. Invesors rarelly go where others have failed. The Nigerian government better get involved in this now before its too late. Becouse Woolworths might be too expensive as a result of the high rental costs. They are not a cheap store but they are a value for money store as the sell quality.

True that sweetcheecks, they are not that expensive here in SA. Actually EDGARS is more expensive than them. The reason for their high prices could be due to high rental cost. But then again, they were probably testing the Nigerian market with their 3 stores. They are very succesful in SA, with over 2 000 stores, and their new food store Woolies gaining ground.

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