₦airaland Forum

TheBizGenius:
Oga, if you truly do own a big business, the first thing you would realize is that it's the board that takes decisions not 1 man.

Haba. To even start your company, you had to register a board of directors, abi?

This una "I own my own business" in Nigeria sha.

I feel sorry for you. Enjoy your day

Their business model is flawed, a little. They didn’t tweak it to truly reflect Nigerian poor-class income earner.

They should have expanded into neighborhoods, the way Boku is doing but they only chose to remain in the affluent peoples’ areas while selling what an aboki gateman sells in his kiosk. How can a poor man from Agbado-Ijaye go to Ikeja, to buy a Harpic that he can easily get a few houses from him?

There’s nothing wrong having an outlet in Ikeja, Lekki, and Surulere but they failed to tap into the neighborhoods where more people are and would be happy to have them.

May be they are considering costs of buy and demolishing old buildings before constructing new malls. They can be the sole occupants of their building. After all, most sellers in their outlets have their own reps, which Shoprite is not the one paying their salaries. These companies still pay Shoprite to display and stock their goods in Shoprite’s warehouse.

This is one, out of many lessons their management didn’t learn on time.

Lessons learnt.

Aaaaaa987:
I feel sorry for you. Enjoy your day

Huh? Sorry for me?

For saying what everyone who has a legit company knows and does?


Ohhhh. Your company is not registered. I get it now. Lol.

Please, do enjoy your day too.

VanuatuWycombe:
Their business model is flawed, a little. They didn’t tweak it to truly reflect Nigerian poor-class income earner.

They should have expanded into neighborhoods, the way Boku is doing but they only chose to remain in the affluent peoples’ areas while selling what an aboki gateman sells in his kiosk. How can a poor man from Agbado-Ijaye go to Ikeja, to buy a Harpic that he can easily get a few houses from him?

There’s nothing wrong having an outlet in Ikeja, Lekki, and Surulere but they failed to tap into the neighborhoods where more people are and would be happy to have them.

May be they are considering costs of buy and demolishing old buildings before constructing new malls. They can be the sole occupants of their building. After all, most sellers in their outlets have their own reps, which Shoprite is not the one paying their salaries. These companies still pay Shoprite to display and stock their goods in Shoprite’s warehouse.

This is one, out of many lessons their management didn’t learn on time.

Lessons learnt.

Simple. Nothing more, nothing less.

Well, they said it's a reset, not an exit. They are trying to align with the recent economic hardship. Probably coming back with a different name and price hike on goods.

LibertyRep:
Is there a management issue or Divestment or what ?
Because I see Foodco, Justrite and other malls opening every other day.

What exactly is the issue with ShopRite

I wonder oo...becos they had always had hefty patronage.

TheBizGenius:
Huh? Sorry for me?

For saying what everyone who has a legit company knows and does?


Ohhhh. Your company is not registered. I get it now. Lol.

Please, do enjoy your day too.

Kekere Ekun, why will my company not be registered ? thinking process is appalling. The BizGenius indeed.

givedemwotowoto:
Nigeria’s N2.5trn Mall Economy Takes Hit as Shoprite Completes Shut-Down



Source

NEXT is still around.

Mathewrichard99:
Finally, hope we all remember that Shop rite shops and other retail stores outlets have been closing down gradually since time of GEJ.... Only got worsens during Buhari and finally collapsed during BAT...... Some foreign companies too packed up and left during GEJ, many during Buhari and lots during BAT...... Nigeria government needs to do better than continuously looking for Direct Foreign Investments abroad, wasting resources in Billions of dollars.... What have you done to secure the already DFI in your country?

Exactly my thoughts. The money they would spend and tax breaks ... setting up the necessary infrastructure to give these foreign businesses a soft landing they will not provide half for any local company. He likes of ShopRite kill local production and use up scarce foreign exchange.

The day I saw one of the outlets with just cway water

Originalsly:
Exactly my thoughts. The money they would spend and tax breaks ... setting up the necessary infrastructure to give these foreign businesses a soft landing they will not provide half for any local company. He likes of ShopRite kill local production and use up scarce foreign exchange.

Direct foreign investments can significantly help the local economy. These companies source their products from farmers locally, sometimes even working directly with local farmers to ensure quality and better production outcomes.

When you grow the local economy from FDI, then you can empower local investors to compete. That's exactly what China did. That's how companies like Huawei, Lenovo and the rest started.

Lithiumite:
Keep quite,what has tinubu got to do with this.......shop rite failed to evolve and adjust to current realities.......smaller retail chains are growing rapidly where shop rite has failed and there are more retail outlets bludgeoning value in the retail space......everything tinubu depicts you as an ignorant,unintelligent fellow who doesn't even understand basics.

Jayhome24:
And all these nonsense you wrote means what? Is that the topic of discussion?

You are the one that know where you got all these rubbish statistcs from but sadly to announce to you pls keep it to yourself nobody asked you.

Tinubu's policies killed the purchasing power of Nigerians from Day 1, and these companies have shut down because of that.

But people around him are obviously enjoying and getting richer

Why defend something you’re also a victim of?

givedemwotowoto:
Tinubu's policies killed the purchasing power of Nigerians from Day 1, and these companies have shut down because of that.

But people around him are obviously enjoying and getting richer

Why defend something you’re also a victim of?

For every business that shot down,I would show you At least 3 new ones coming up.......is it only in Nigeria businesses shot down.

Lithiumite:
For every business that shot down,I would show you At least 3 new ones coming up.......is it only in Nigeria businesses shot down.

Tell me another country in the world where Shoprite is shutting down nationwide after 20 years of operation.

givedemwotowoto:
Direct foreign investments can significantly help the local economy. These companies source their products from farmers locally, sometimes even working directly with local farmers to ensure quality and better production outcomes.

When you grow the local economy from FDI, then you can empower local investors to compete. That's exactly what China did. That's how companies like Huawei, Lenovo and the rest started.

No doubt ...but was turned his the case? These businesses can also kill local farmers by not supporting local farmers.

givedemwotowoto:
Tinubu's policies killed the purchasing power of Nigerians from Day 1, and these companies have shut down because of that.

But people around him are obviously enjoying and getting richer

Why defend something you’re also a victim of?

O will only answer your last paragraph. Bro I wll defend Tinubu even more cus he is 1,000 time better than atiku and that eze anukpamu called obi so kindly face your front.

Tinubu did not reducing any purchasing power ok, in any reform economy its no pain no gain so rest...

Mohamadu killed it Bulaba buried it. I remember it's glorious day under the pdp before these demonic minions took over.

Kobicove:
I think the local operators who took over the franchise lacked capacity to manage it

That's true

Why is it that Blenco, Jendor and Bokku growing especially in Lagos?

The owners are copying ShopRite Model and they are doing fairly well

This happened when drug dealer be president of a country

Lithiumite:
Don't mind these propagandist....shop rite simply failed to evolve and adjust to current realities......smaller retail chains are growing exponentially due to one major reason which is accessibility, tge nearest shop rite to where i live would be about 5km,thats a lot of intense driving within the city but I have jendol,just rite,and so many others along my route, why then do I have to go to shop rite just because I want to get groceries.

The same way those malls around you are about 5km away from the people around ShopRite, so you don't expect them to come to Jendol or whatever you can it. You won't blame Tinubu because of your blind support. When you make policies that effect purchasing power of the citizens, increase tariffs, foreign exchange and general maladministration you said I should not blame the government and it's president who is at the helm of affairs? Other outlets are simply coping within their level.

MrGerald:
The same way those malls around you are about 5km away from the people around ShopRite, so you don't expect them to come to Jendol or whatever you can it. You won't blame Tinubu because of your blind support. When you make policies that effect purchasing power of the citizens, increase tariffs, foreign exchange and general maladministration you said I should not blame the government and it's president who is at the helm of affairs? Other outlets are simply coping within their level.

Blame tinubu for a badly run business or inefficiency of its management.......if you aren't a stereotypical ideologue.....why are other retail chains within the same space thriving and shop rite is failing,is it foreigners or ghosts that are growing them......even obi's next retail chain is still doing very well within that space.

Lithiumite:
Blame tinubu for a badly run business or inefficiency of its management.......if you aren't a stereotypical ideologue.....why are other retail chains within the same space thriving and shop rite is failing,is it foreigners or ghosts that are growing them......even obi's next retail chain is still doing very well within that space.

ShopRite are like multinational the market forces like exchange rate affecting them is different from other indigenous retail stores.

MrGerald:
ShopRite are like multinational the market forces like exchange rate affecting them is different from other indigenous retail stores.

Why haven't all the multinationals left?

Lithiumite:
Why haven't all the multinationals left?

All, you want "ALL" to leave before agreeing there's fire on the mountain when a good number of them already left?