GamalNasser:


Which competitors ? You obviously don't own a business so please stay one side when business owners are talking about Buhari Economy

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

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.

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.

Toni19:



What are they passing through?

.
Just Google what jumia Nigeria is passing through you will see it.

Toni19:



What are they passing through?

Jumia has NEVER made a profit and may likely never make a profit.

Jumia's only hope is for Amazon to buy them..

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 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.

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.

Sowore? lol so you can't start by yourself,or Sowore blood is red 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.

Iamgrey5:


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

Even in South Africa they belong to the 3rd tier after pick & pay and u-save.
It's a shame that Nigeria with population of around 200million do not have a brand.
I hope and pray a Nigerian money bag can see the opportunity

Dey don use tax to kill dem.....useless govt in d nonsense

aolawale025:
Next level economics

senior level

martineverest:
use ur head..... ShopRite can't keep up with competitors anymore

what competition

Where is the competition


You get sense so?

Tell me one competition

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.......

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

Nigerians Dem una , u no hear, Dem talk an u no hear...when the time is right, my brother ehee Dem no dey tell e Person

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.

GamalNasser:


Which competitors ? You obviously don't own a business so please stay one side when business owners are talking about Buhari Economy

do even even know the huge number of local megastores that are springing up in Nigeria , especially Lagos and are more innovative and cheaper than shoprites?...almost every area in Lagos got at least ShopRite equivalents

Where the citizens purchasing power are on the all time low, Most people aren't educated, there are racist's among us, no 24 hr electricity, no ease of doing business framework/ support whatsoever by the federal government and about 60% of the population is poor and u are working in the poverty capital of the world how do u expect to make profit and expand ! Nigeria is among the worst place for doing business! That's y many companies like Walmart, and others don't have strong hold on the Nigerian market, that's y we av to struggle to buy things we should ordinarily see in Nigeria abroad and pay huge taxes for shipping fees and not to talk of customs that would still tax u again at the wharf!

nymphomaniac:
SPAR and Grand square laughing at this news

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.

Good. This is not indispensable, we can start this ourselves

Arexit:
when you break in and loot all in the name of protest then.........

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.

tammie24:
what competition

Where is the competition


You get sense so?

Tell me one competition

The competition is everywhere.

From the mini malls in your neighbourhood to the mega shopping outlets that cover your local government.

Those businesses split up shoprites business and took advantage of there lack of reach. Call it a gang up against ShopRite as Lilliputians. They collectively took down the giant.

Nigeria has a huge population with weak and poor purchasing power. We steal and cause capital flight thereby shutting down businesses.

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.

very valid point raised.

proeast:
They can go already. We now have enough Igbo brands that can effectively replace them. The likes of Next, Everyday, Market Square and several others that are available in major cities.

Although we appreciate them for creating the awareness

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.

aybabz101:
well, that is another job loss in this trying moment, but las las, we go dey alright.

But seriously, what is happening in 9ja? konga I think was recently put on the market for sale and jumia is really struggling. This means e-commerce is not "really productive" in Nigeria.

Also, our major supermarkets are closing up!

I think the purchasing power of our middle class is really dwindling at a very fast rate coupled with the fact that the naira is on a free fall.

these companies are not Nigerian companies so, their profit will be declared in their corporate headquarters in dollars not in naira. regardless of the marginal profit made in naira, if naira is below the cliff, it will be seen as a loss in their headquarters.

This is the whole truth. A forensic presentation of what's going on.

No such thing as ease of doing business in this fast retrogressing nation... Nothing put in place to attract investors. Zero economic policies!!!

I always knew Shoprite would depart soon... It was always going to be a matter of time. Never been a fan of most of them, but the employment opportunities they have created over the years have been unrivalled. Who takes their place??! What happens to the numerous employees??!...

This is why it is a terrible thing to have dullards leading nations!!!

Anything the redundant coupist touches crumbles!

Solatium:



Even in South Africa they belong to the 3rd tier after pick & pay and u-save.
It's a shame that Nigeria with population of around 200million do not have a brand.
I hope and pray a Nigerian money bag can see the opportunity

which opportunity? Anybody dat wana trow away moni is welcome to try. Do u tink is by mistake dat even d biggest retail giants like Walmart are avoiding Nigeria like a plague, despite d huge population? Is cuz ur govt is a business killer. Unless u belong in dia Cabal any neutral person making huge investment will go down d drain. C wot dey did to Gokada, Max an Oride. See wot d dey r doin to Uber n Taxify? Wot of Jumia an Konga? Dos guys are struggling to keep up an float. Dey are running on huge losses. But banks will always declare profit, an Dangote and co. Cuz dey belong and play d game wit d mafia running dis country

Is there even a middle class in Nigeria. It's been long eroded. Such a shame.

aybabz101:
well, that is another job loss in this trying moment, but las las, we go dey alright.

But seriously, what is happening in 9ja? konga I think was recently put on the market for sale and jumia is really struggling. This means e-commerce is not "really productive" in Nigeria.

Also, our major supermarkets are closing up!

I think the purchasing power of our middle class is really dwindling at a very fast rate coupled with the fact that the naira is on a free fall.

these companies are not Nigerian companies so, their profit will be declared in their corporate headquarters in dollars not in naira. regardless of the marginal profit made in naira, if naira is below the cliff, it will be seen as a loss in their headquarters.

martineverest:
do even even know the huge number of local megastores that are springing up in Nigeria , especially Lagos and are more innovative and cheaper than shoprites?...almost every area in Lagos got at least ShopRite equivalents

Is it the like of Just rite , Ebeano and Blenco you are talking about?

Trust me ShopRite is leaving because of bad Economy and not competition in anyway .

The buying power of the Nigerian consumer is down by almost 60 percent , add the unstable naira to it and you will see why any international retail business like ShopRite will exist ... even your small local retailers you mentioned are feeling pinch. Or are you saying Buharis leadership is okay?

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

you see your life.

1980s was better than now. PMB should hurry up and send us back to good old days

Oloshos and Yahoo boys have turned ShopRite to their relaxation spots.

Only very few people are actually buying

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

They would change the every 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.

Pls...stop writing rubbish...how many Nigerians can afford premium products.

Increase revenue ko, increase revenue ni