New horizons for retail growth in Africa
Much has been said about Africa’s diverse, complex and interesting markets and their appeal to foreign investment. In our inaugural African Powers of Retailing report, we aimed to highlight listed African retailers – their market activity, the retail sectors they predominantly operate in, the geographical regions they have chosen to be based in, and the possible factors influencing these decisions.
Highlights from the report:
- African retail trends
- There is an increase in omni-channel strategy adoption as the African eCommerce market is expected to be worth US$50 bil by 2018, compared to US$8 bil in 2013
- South African retailers are focusing on expansion outside of the continent in countries that are showing recovery and access to an established consumer base
- A list of the top 25 African retailers
- The top 25 listed retailers in Africa collectively earned retail revenue of US$44.3 billion in FY13, contributing approximately 5.4% to the total African retail market size of US$823.2 billion
- Shoprite Holdings was named the number one retailer in Africa followed by Massmart Holdings and Pick n Pay
- The 10 fastest-growing retailers
- Choppies is the fastest growing retailer of the top 25, recording 24.4% year-on-year revenue growth in fiscal year (FY) 2013 over FY2012
- Insights on retail product sectors
- Food and beverage accounts for 52.5% of total retail sales of the top 25 retailers.
- It was also the fastest growing retail sector with 12.9% composite annual revenue growth, followed by clothing and accessories (10.2%)
- An overview of African e-retailers
- The African eCommerce market is expected to be worth US$50 billion by 2018, compared to US$8 billion in 2013
Download the full report and infographic here to get more exciting insights about Africa’s best-performing retailers!
Contact Africa Consumer Business Industry Leader, André Dennis, or Africa Consumer Business Chief of Staff, Dylan Piatti, to discuss retail growth on the continent. We welcome your feedback and thoughts.