Recently, the Two Rivers mall opened in Nairobi, Kenya. It’s the largest shopping mall of its kind anywhere in East Africa.
Across the continent, both local and international supermarket brands like Shoprite, Game, Checkers, Woolworths, Edgars and Spar are expanding as they scramble for every inch of available space in shopping and retail infrastructure developments.
Interestingly, the battle for retail supremacy in Africa isn’t only happening in physical retail chains.
eCommerce giants like Konga and Jumia have grown quite impressively in the last few years. Both internet-based retail businesses now have a combined worth of over $1 billion.
In fact, the battle ground for Africa’s retail market is moving beyond the continent’s shores. New eCommerce entrants like Mall for Africa and Shop to my Door now make it possible for Africans to shop directly from retailers in the USA, UK and China.
Amazing!
Africa is now one of the fastest growing retail markets in the world. A large and growing middle class, increasing local spending power, and a boom in the number of expat workers are fueling the shopping trend on the continent.