More than a decade ago the United States’ biggest retailer, Walmart, entered the South African market and local retailers braced themselves to be decimated — but that threat did not materialise.
In 2011, Walmart bought South African retailer Massmart, which owns Makro and Game. Since then Massmart lost its value to the point where, in 2019, the parent company had to bring in reinforcements in the form of chief executive Mitch Slape. Massmart had a head start in the online retail game, especially with the backing of Walmart, but now is second to Takealot, which was launched in 2011.
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Anathi Madubela
Anathi Madubela is a business journalist with a keen interest in the retail sector.
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