A heated debate has erupted online after social commentator Dr. Wizarab raised concerns about the state of ShopRite outlets in Nigeria, describing them as “ghost towns, forgotten and sad.”
Unlike the once-bustling malls that drew crowds for affordable groceries and household items, many ShopRite stores are now reportedly marked by scanty shelves, reduced product variety, and declining foot traffic.
While some Nigerians quickly linked the decline to the country’s harsh economic realities, others disagreed, insisting that ShopRite’s troubles are rooted in management and competition.
Since its takeover by Ketron Investment Limited in 2021, customers argue that the brand has struggled to maintain its appeal. Once celebrated as a one-stop shop for affordable products, ShopRite now faces stiff competition from local and regional retailers like Ebeano, Bokku, Jendol, Spar, and others that offer similar prices and convenience much closer to consumers’ homes.
“ShopRite used to house cheaper items, but now alternatives closer to consumers offer the same benefits. That’s why people switched,” one shopper commented.
Reports suggest several outlets have already closed down, such as the Ilorin branch, while others have been reduced to selling only basics like bottled water.
Still, a section of Nigerians insists the economy remains the biggest factor, pointing to inflation, shrinking disposable income, and reduced purchasing power.
Dr. Wizarab, however, stressed that his initial observation was not about the economy but about changing consumer interests.
ShopRite’s struggles are not limited to Nigeria. The South African retail giant had earlier projected Nigeria’s economy as unfavorable, citing insecurity, unstable government policies, and xenophobic reprisals against South African businesses (such as the 2019 attacks on Lekki ShopRite and MTN).
This led to its full divestment from Nigeria in 2021 when it sold operations to Ketron Investment Limited.
As of last month, fresh rumors suggest Ketron may also be considering selling ShopRite again. Meanwhile, ShopRite Holdings Limited is scaling back across Africa, having already exited countries like Egypt, Zimbabwe, Tanzania, Mauritius, Kenya, Madagascar, Uganda, Nigeria, Ghana, and most recently Malawi, where Karson Investment Trust has reportedly taken over.
With shifting consumer habits, increased competition, and worsening economic conditions, many Nigerians are left wondering: is ShopRite truly failing because of poor management, or is it just another victim of Nigeria’s harsh economy?
Comments
Post a Comment