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Zim: Small retailers give big players a run for shoppers' money
Zimbabwe's retail giants are facing stiff competition from an emergent crop of small retailers who have taken a significant share of the market. But the big players said they will leverage their brand and life-sized operations to outperform the new rivals and regain market share.
OK Zimbabwe, which runs the OK, Bon Marche and OK Express retail outlets, said there were “many entrants into the retail business and competition for the limited disposable income is intense”.
“The company will continue to compete aggressively in order to increase its market share,” said chairman Eric Kahari in an update.
CEO Willard Zireva said OK Zimbabwe had “a comprehensive brand with a fuller range when compared to the other stores.”
TM Supermarkets, a subsidiary of conglomerate Kingdom Meikles Africa and the biggest retail operation in the country, said it was devising new strategies to “regain lost ground.”
OK Zimbabwe is hoping that even though TM has more outlets, it has the advantage of having more space that any retailer: 78000m2 in trading floor and 100,000 in back space.
About Dumisani Ndlela
Dumisani Ndlela is a Zimbabwean journalist specialising in business and financial reporting, with experience reporting on commodities, stock and financial markets, advertising, marketing and the media. He has previously reported from a number of regional countries as well as from the UK and Germany on commodities and regional integration. He can be contacted on ku.oc.oohay@aleldnd.