Shoprite to focus on domestic market after withdrawing from rest of Africa
By Janice Kew
(Bloomberg) – Shoprite Holdings Ltd. switched its focus firmly toward taking market share in its home market of South Africa, after opting to withdraw from Nigeria and Kenya and move more cautiously in Angola.
The more guarded approach comes after the continent’s biggest supermarket chain struggled with supply disruptions and getting money out of some countries. The company is seeking to take advantage of its increased dominance of the South African grocery industry in a year blighted by coronavirus lockdowns.
“The business remained vigilant, combating the challenges faced across Africa, however, currency devaluations again eroded much of our efforts,” Chief Executive Officer Pieter Engelbrecht said Tuesday in a statement. “From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we can.”
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This report focuses on South Africa s cosmetics industry and includes information on the state of the sector, latest statistics, developments and investment. There are profiles of 90 companies including multinationals such as Unilever, Johnson & Johnson and Reckitt Benckiser, large retailers of cosmetics including Clicks, Dis-Chem Pick n Pay, Shoprite and Woolworths, and industry-focused companies such as Imbalie Beauty
The Cosmetics Industry in South Africa:
Consumer spending patterns are reflecting the economic downturn caused by the impact of the pandemic, with spending focused on essential items. The lockdown has had a significant effect on the industry as frequent handwashing and use of hand sanitisers has resulted in increased use of hand creams and lotions to moisturise the skin. Numerous cosmetics companies have started manufacturing hand sanitisers. Retailers reported increased sales of haircare pr
South Africa Cosmetics Industry Report 2021: Digitalisation, Wellness, Personalisation and Sustainability Gaining Prominence - ResearchAndMarkets com naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.