Indigenous grocery shops can now upgrade in peace...
Everyday supermarket, market square, NEXT,etc
...good luck to shop rite in their future endeavors.

Openbusiness4:

Oga no big supermarket in Nigeria sells hundred percent local content, unless na for aboki or kiosk or road side shop. No b same Blenco wey dey Sangotedo wey I no? No b same addide wey dey Pedro an many oda locations, Jendol and d rest are d same tin, even Prince Ebeano. Foreign goods dey dia, exotic wonderful products. Do u know wot dey go tru to settle Nafdac n customs n oda agencies dat cum to harass dem from time to time? Danfo an Lastma be friends no be say cuz d 2 of dem dey wear yellow, na bcoz dem dey give dem d raba steady. Dat d supermarket are running don't mean dey r always making profit. Check dem well, some of dem are owing loans, some of dem are owing suppliers etc na jama jama everybody dey do. D business environment is killing unless we wanna b deceiving ourselves. Do u know how much dey spend on fuel and gen repairs every month alone? Money dat suppose to b profit

No one is telling you that a supermart will sell 100% local goods, Tesco ASDA sainsbury and Lidl sells products from other European countries.
But more of home grown products.
ShopRite don't pay for local goods up front,they provide a space for people to showcase their products and sell them,they allocate stand to manufacturers and collect money from them,they still collect rebate on Good's sold.
They only stand as a middle man between buyer and sellers,I repeat we don't need foreign supermarket,let us grow our own local content and keep our money here.

we all know cost of doing business in Nigeria is high,even at that they still make their money in multiple folds.
What MTN made in Nigeria as profits during lockdown triple's the gross of their earnings in SA.
Naija Is a market for anything and everything,capture Naija Market,you have the whole of Africa in your pocket

Thelucifer666:

Explain more on this jumia matter.
I'm truly scared for the future of this country

. For jumia I have worked there I must tell you that jumia have been incurring loses since they started.

For Shoprite, I'm currently working with a company that supply all supermarket equipment from shelves to refrigerator to accessories. Competition is just too much. Everyone want to own a retail store.

SmartPolician:


Akuko

In a country where 80% of the population do not make up to $2 per day, increasing prices will only send ShopRite (or its later name) to its untimely death.

Notice that most Nigerians preferred to buy things in local markets until ShopRite came in and changed the game with their relatively affordable prices and good shopping experience.

Nigerians are veryyyyyyyy poor and the government has not done enough to create a much broader middle class that can patronize those malls in the face of price hikes

My brother, you just stated facts.

Going by comments on this topic, it's obvious a lot of Nigerians are oblivious of what it takes to run a successful business in Nigeria.

The spending power of the population is quite low, and has had a steady plunge in the last 5 years.

Unfriendly government policies do not help either.

Tetehjewels:


Not true.

It's about cost at the end of the day. ShopRite I'd expensive compared to other smaller malls.

Even if a business depends on imports there is what is known as "small profit, quick turn over" . ShopRite does not understand this language.

Small profit, quick turn over how? Is it not when you have a profit you can be turning over quickly? Do you realise the impact of FX on their margins at all? This is not text book economics o.

LadyExcellency:


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.

Please explain profit by turnover rather than per sale

Thanks.

GamalNasser:


Buharis poor leadership has affected the the buying powers of Nigeria and created currency valuation and for a company like ShopRite that's a death Knell for them when their consumers can't buy enough and they can't really increase prices to match the currency devaluation ...so in essence they have no choice to exit at this point and hope some mumu comes to buy their Nigerian asset and stock

The buying power of Nigerians have been affected by the greed of Nigerians - use covid-19 period as an example - nigerians increased prices of even face masks - Shoprite and spar being fairly priced items with a return policy compared to nigerian retailers - so its the nigerians themselves that are responsible for a poor currency valuation - nigeria can have a good currency valuation if the people wake up to their responsibilities as good citizens and stop waiting for Buhari to do everything for them. Is there poor police? Let the citizens create community policing - poor purchasing power? Let the citizens form pressure and lobby groups to work with the government. Nigerians hardly take personal responsibility for things - all they do is fasting and prayer and blaming the President - dont get me wrong prayer has its place and fasting but its not what got China to become a super power....

No you can't. Your country does not know how to add VALUE.

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!

Luckydubby7:
. For jumia I have worked there I must tell you that jumia have been incurring loses since they started.

For Shoprite, I'm currently working with a company that supply all supermarket equipment from shelves to refrigerator to accessories. Competition is just too much. Everyone want to own a retail store.

How is profit achieved... If articles are obtained legally and not smuggled in??

.

[s]

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!

[/s]

Rubbish , clearly nothought was put into this nonsense

Luckydubby7:
.
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?

when you said 'use your head' I guess you were greeting me
That is if you are the same person with the other monica
Otherwise I didn't quote you

You want to be an adult, get out of social media

BigBashiru:


The buying power of Nigerians have been affected by the greed of Nigerians - use covid-19 period as an example - nigerians increased prices of even face masks - Shoprite and spar being fairly priced items with a return policy compared to nigerian retailers - so its the nigerians themselves that are responsible for a poor currency valuation - nigeria can have a good currency valuation if the people wake up to their responsibilities as good citizens and stop waiting for Buhari to do everything for them. Is there poor police? Let the citizens create community policing - poor purchasing power? Let the citizens form pressure and lobby groups to work with the government. Nigerians hardly take personal responsibility for things - all they do is fasting and prayer and blaming the President - dont get me wrong prayer has its place and fasting but its not what got China to become a super power....

There's no demonstrable overarching business viewpoint.


Selfishness has taken away that sense of collective responsibility or community.its the underlining principle behind senseless corruption.

With no community-focused deep thinker, there's no recognised macro-economic voice ... But squeaks
The occasional squeaks are treated as terrorists rather than major stakeholders.

Question...

Where are the heads of the chambers of business, leads of Directors Guilds, heads of Labour unions or other workers unions..

Once individual pockets are settled, the status quo continues.


.

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.

So why didn't the thieves in Nigeria buy it to reduce the price.

We never take responsibilities in this part of the world. Always blaming some one else.

It can never be our fault.

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!

You think this is progress? They left because the purchasing power of Nigeria is fast declining not any progress.

I'm sure this is directly related to that recent xenophobic thingy wey happen last year

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.

Oga stop talking ignorantly,Chinese n Indian retail shops actually sell their items cheaper than shoprite
Especially Indian shops

tot:


Small profit, quick turn over how? Is it not when you have a profit you can be turning over quickly? [b]Do you realise the impact of FX on their margins at all? [/b]This is not text book economics o.

This is why I said it is a loss to SA and not Nigeria.

The vacuum their exit would create would quickly be replaced with others who understand the Dynamics of running a major shopping outlet and are willing to always make the customer king.

ShopRite lost the plot and good riddance to them

Chrisakuneme:
Nigeria is not ripe for some kind of businesses yet.

if you don't know what to say just hit the freeway and never look back

doeeyed:



There's no demonstrable overarching business viewpoint.


Selfishness has taken away that sense of collective responsibility or community.its the underlining principle behind senseless corruption.

With no community-focused deep thinker, there's no recognised macro-economic voice ... But squeaks
The occasional squeaks are treated as terrorists rather than major stakeholders.

Question...

Where are the heads of the chambers of business, leads of Directors Guilds, heads of Labour unions or other workers unions..

Once individual pockets are settled, the status quo continues.
.

anyway the point is blaming Buhari is not the answer - as for selfishness and corruption - the questions nigerians should ask themselves is why is it from 1960 (60 good years) to date its the same corruption story - maybe its a curse?

Tetehjewels:


This is why I said it is a loss to SA and not Nigeria.

The vacuum their exit would create would quickly be replaced with others who understand the Dynamics of running a major shopping outlet and are willing to always make the customer king.

ShopRite lost the plot and good riddance to them

You either are avoiding the key issues or clearly do not get it. No point continuing this conversation.

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.

You know you can start the revolution yourself and make a name for yourself instead of waiting for Sowore.

NaMe4:


They never even set foot in Edo State!

The matter weak common man

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.

"It would reduce customers but increase revenue"
To the above;

Please can you give economics explanation for this?
It is confusing.

Yes Go. So when the next xeno attacks occur, we go chop Indians instead

They can as well leave now.


No impact so far.

walexy06:


"It would reduce customers but increase revenue"
To the above;

Please can you give economics explanation for this?
It is confusing.

in marketing we have Market penetration and market skimmng strategies

They are opposite each other

Market penetration encourages low prices, high frequency of sales and low profit margins

Market skimming encourages high prices, low frequency of sales and high profit margins.


The major problem of Shoprite was that the low profit margin couldn't offset the overhead cost to break even.

The only solution is to try to skim the market for high income earners and sell products at premium prices.

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.

Let's hope evil Amazon and google don't buy it

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DeLaRue:


Even SPAR, I'd be surprised if they are profitable.

There aren't enough people with the disposable income to shop in these places regularly.

Also, every neighborhood has a plethora of shops where people can get 80 - 90% of their shopping at a cheaper price and without needing to drive long distances.

I'd be surprised if SPAR doesn't leave soon.

Exactly
Disposable income of the middle classes is plummeting . that's why they're leaving

Hmm just months after Mr. Price announced plans close down business in Nigeria

https://yinksmedia.com/mr-price-to-close-down-business-in-nigeria/