This acquisition resulted from Shoprite International’s divestment of its Nigerian portfolio and a shift from the ownership to the franchise model.
So, when the story initially broke that Shoprite International was exiting Nigeria, there was a bit of panic and uncertainty around what this meant for the shopping and retail experience in Nigeria. Several people asked who would take over the company and how well they would preserve product quality.
One of the highlights of customer spending behaviour in the last two years since the COVID-19 pandemic hit the world is the desire to spend less but gain more value. The pandemic impacted jobs and livelihoods, making an already price-sensitive market more sensitive. We saw this as brand loyalty waned with many more challenger brands and new market entrants coming in at very low prices.
It also highlights the retailer’s commitment to offering great products at reasonable prices, another feature for which it has become popular.
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