JesusJesus:
E-commerce is the future

which future?

for 5 years consecutively jumia nigeria and konga were making loss in their statement of financial position.

folarr:

My brother,
I'm going to Shoprite now to buy the bread

Lol .
Buy the ones that will last you till Xmas time o.
Safe trip!
Funny!!

BTW, we no be brother o,
We are simply WE!

NEXT [Cash & Carry] should take over, ASAP.
Good riddance.....

anyicash:
Very Bad to our Economy, unemployment will increase.

You are a bad economist student.

frankyychiji:
I don't get it, are they saying they didn't make profit year on year for the past fifteen years or just this year? I hope this has nothing to do with the diplomatic strain as it were between both countries.

Customs are headaches in Nigeria...Nigeria is not a profitable market...also we shouldn't forget how we Nigerians destroyed their shops

In addition...naira devaluation every minute

truthfulparrot:
Chai nothing works in Nigeria again. Granted things are not easy worldwide but misrule and clueless leadership is making Nigeria case worst.
PMB is taking Nigeria Bank to the 1980s

taking?he has already tooked us there

Or11:
Nigeria is such is dumb country. Imagine suspending withdrawal on Nigerian ATM cards abroad when many Nigerians are stuck abroad because of the COVID 19 pandemic. The Embassies are also shut. Ordinary 24 hours power seems impossible. Sowore should do his revolution fast abeg.

Is it Sowore that does not know how left from his right that you're banking on?

Death of shopping malls which started years ago in america is happening to Africa, welcome to online shopping.

post=92403340:

They are on top of that particular business.
We don't think it's really about competition.

How?
it is just a franchise nothing more nothing less, there are so many indigenous springing up now in Nigeria that has reduced the gap.
For example, So many foreign airlines was top of that particular business in the past but the likes of "Allen Onyema of Airpeace, in Nigeria has brought in some sort of competition which other indigenous would follow Suit. Just watch the space.

folarr:

The actual reason for the naira's devaluation was the tension between Saudi Arabia and Russia which caused the plummet of oil prices, which is Nigeria's main source of revenue. Get your facts right.

So Russian and Saudi tensions have been on since Buhari became President? The Naira has been on steady decline since the day Buhari bead inaugurated and has to be powered every day by the CBN who spends millions of dollars to buffer it .... See Buhari is a bad leader in charisma , actions and inaction ..If Buhari was announced as the CEO Amazon today Amazon stocks will crash within minutes. .That hoe quickly a bad leader can affect fortune

tammie24:
what competition

Where is the competition


You get sense so?

Tell me one competition

.
Do u that telling adult like myself if I have sense is big insult to me?
When I aired my view on this topic did I quote u?

onyechez:

Shoprite should go home, market square full everywhere and others, we should thank them for creating something our youth perched on as penny to support life.

Honestly, here in Owerri, we now have other big malls in almost every section of the city and they are all facing serious competition. I guess it was the competition and the COVID-19 economic strangulation that is forcing them to leave.

I don't consider this as a loss to the local economy since their profits are repatriated to SA but the local brands will keep their profits at home. In addition, they will be seeking to divest, which means that Nigerians will still be the ones to buy it and rename the franchise.

This is one thing I like Igbos for, that business sense and can do spirit is what led to the creation of several brands like Next, Everyday, Market Square and that other one that started from Enugu, I can't remember the name to develop chains of malls in major cities across the country.

In essence, it is South Africa's loss and Nigeria's gain

Tetehjewels:


It is competition and not Buhari.

Let me explain in a way I would to kids.

If you have a very large store localized in one spot and I live 5 to 20km from that store, why would I travel that distance to that store and risk my life plus spend my money when I can get the same things from that big store from a much smaller store right around my house?

What ShopRite should have done was to go digital but they were too myopic. Their market was mainly for those around their area of location and that was their doom.

Today we have shopping malls everywhere which in many ways have split up shoprites market and taken it to their areas.

ShopRite gave those businesses the ideas and innovation but they now improved upon it.

Their lack of ingenuity and competition from others killed them not FG

Please go and seat down , you have no choice than to defend Buhari

Its a welcome development,afterall they take their profits home,if you know the number of shops that can,t breath and those that are dead due to their presence.

DrMuzungu:
Shoprite was always damn too expensive anyway. Sell it to chain such is SPAR, for example.
For fvcks sake, one day in Shoprite in Victoria Island, I saw a mango being sold at N700 per piece (and that was while $1 was around N160, not now!), while the old grandma outside was selling it at N50 per piece.

Equally find out how much they pay your greedy fools leading you to do business here... Do you even have the faintest idea how much these businesses incur in terms of expenses or cost of running business in this nation, especially in that Lagos??!...

We shouldn't be so hasty to crucify them without proper facts! Business is about offsetting overhead costs, and bringing in the profits. Cost of rentage in most malls across the nation is mind blowing and ridiculous... Shall we talk about how much fantastically corrupt entities like FIRS, State tax agencies, etc, extort weekly and monthly from them??!...

Nigeria is one of the nations in the universe who are economically poor and very foolish!!!... You claim to be attracting investors to grow your ailing economy, yet create a very hostile environment for them to thrive.

Zenithpeak:


Just the way South Africans broke into their contemporary African brothers establishments looted their shops, kill them and torch the remaining items. As bad as Nigerians are, the South Africans are extremely toxic and insensitive set of humans anywhere on the Africa continent.

the difference is the Nigerian businesses there are not really employers of labour but the south African companies here are on a large scale so if we act like the South Africans then we lose on both fronts

GamalNasser:



So Russian and Saudi tensions have been on since Buhari became President? The Naira has been on steady decline since the day Buhari bead inaugurated and has to be powered every day by the CBN who spends millions of dollars to buffer it .... See Buhari is a bad leader in charisma , actions and inaction ..If Buhari was announced as the CEO Amazon today Amazon stocks will crash within minutes. .That hoe quickly a bad leader can affect fortune

Let's be guided. It's because of people like you and I that Nigeria is the way it is, for example, this COVID-19 outbreak in Nigeria would have been contained if only people listened to what the government had planned, but no. I know I'm off topic here but still, if you continue insulting PMB, would the situation change? The tongue is powerful. You know that it's not the President or the Central Bank that controls the exchange rate, it us caused by external factors that cannot be controlled, like the Saudi-Russia tensions, the Central Bank only adjusts the exchange rate in line with these external factors.

post=92403340:

They are on top of that particular business.
We don't think it's really about competition.

It's all about competition. Southeasterns meanly the Igbo's dominate the market in Nigeria. Shoprite can't compete with Igbo merchants who are not only conquering and dominating commerce in West Africa but are expanding into the heart of Sourt Africa.

Igbo merchants believe in profit generated through turnover rather than per sale.

martineverest:
learn to 5hink deeply b4 commenting.... their competitors are hitting hard on them.shoprite doesn't have near monopoly anymore

I guess ShopRite and Mr Price are the only companies that are leaving Nigeria in recent times.

Bye bye. New one will come.

Okay. Most of you here go to Shoprite to take pictures and buy Ice Cream, for everything else, you go to the Market.

Buhari and the Zombies following him will soon start celebrating this as an evidence of their principals' anti-corruption stance, labeling Shoprite as corrupt in the process.

Iamgrey5:


https://www.news24.com/fin24/Companies/shoprite-exits-nigeria-after-15-years-20200803

Anambra guys can fill the void.
It's not a problem

Nbotee:
Dis country isnt working

Was it working before?

I used to be a ShopRite addict sometimes in the past but paying at the till is always a very difficult task. Sometimes, I will spent more than an our to pay for commodity of less than #5k. There was a day my called me to buy ShopRite bread while coming back home. I got to their store at Cocoamall, Dugbe, Ibadan around 8pm only to discover that I have more than 50 people on the cue ahead of me waiting to pay on a single file. There were two separate lines with only two cashiers attending to over a hundred customers.
I latter dropped the bread and that was my last time ever in their store. I can suffering to make money and also suffer spending it.

Sad for Shoprite to pull out from our market. We need more such stores but must be indigenous. Hopefully, new owners will buy them up and make a difference.

Competition leads to price reduction which favors the customers. Therefore, cost of operations should be controlled at every point for profitability and sustainability. It’s survival of the fittest.

However, the decision might be the best for Shoprite to enable them focus on the location that sustains them.

***Make wise investments this month. Check out our real estate offers.

GamalNasser:


Please go and seat down , you have no choice than to defend Buhari

It's not my fault that you could not think correctly.

I am sure if your kitchen sink ever gets blocked this period you would also blame Buhari for it.

fefenoble88:

Sowore? lol so you can't start by yourself,or Sowore blood is green and yours is green. The last time I checked when Sowore was arrested you were busy watching bb9ja. Now you want him to start fighting for you again? Take time ooooo the man get family,start the revolution yourself we and Sowore go join you.

post=92403330:
#TeamProudlyNigeria.

We can have all these and much more indigenously in our darling nation.

If Supersport follow suit,
an indigenous cable TV will stand at last after many caved in along the way.

We should be the GIANT of AFRICA that people know us as.

It is Nigeria that should be having corporations and companies like this in all African countries,
not the other way round
Unfortunately, it is not so cos of the 'many' bad leaders that have ruled our nation since independence.

Gradually we will get there as a nation!
We will continue to believe in her.


You've said it all.
A better Nigeria is all we want.


Really?
Na only shoprite bread pain u for dis matter?
Mr FOLA the FFO!
Stomach infrastructure tinzzzzz.......


Lol .
Buy the ones that will last you till Xmas time o.
Safe trip!
Funny!!

BTW, we no be brother o,
We are simply WE!

Under Buhari the chief hardship merchant?

Iamgrey5:
The Chinese or Indian will buy it and increase prices of products.

They would change the every day low pricing strategy of Shoprite to premium pricing

They would also stock shoprite with expensive foreign brands or Indian and Chinese brands.

It would reduce customers but increase revenue.

And they will pay Nigerians less as well as watch them like hawks.

Enemyofpeace:
taking?he has already tooked us there

Correction Buddy.

There's no such word like"tooked" in English language. In the past participle tenses.

Simply say took or taken.

Cheers!

so what?

how's this a concern, they can go-to mars