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African Powers of Retailing
New horizons for growth
The African market is diverse, complex, interesting, and characterised more by informal than formal retail. The rising middle class is however contributing to the modernisation of retailing and greater consumer market opportunities. Moreover, Africa has become a laboratory for experimentation in mobile and eCommerce, and presents a challenging opportunity. Many African economies are transitioning towards consumption driven markets which is, to some degree, reflected in the country retail contributions to GDP where both East and West Africa have 10 countries with retail revenue contributions of greater than 50%.
This report is the first in what will be an annual African Powers of Retailing series where Deloitte will track the progress of the top African retail performers on the continent.
With a methodology based on our annual Global Powers of Retailing report, it features the Top 25 African listed retail companies based on revenue, and delves into some of the trends emerging in retail on the continent. Expect to find key statistics about the Top 25, a geographical analysis of their presence, who the Fastest growing 10 are, and insight into the retail sectors. The report also offers a glimpse into African e-tailing and features five prominent players in this space.
African Powers of Retailing infographic
Some key findings:
- Shoprite Holdings Ltd is the top African retailer, with FY13 sales of US$9.85 bil.
- Choppies Enterprises Ltd is the fastest growing African retailer recording 24.4% year-on-year revenue growth in FY13 from FY12.
- The food and beverage sector accounted for 52.5% of the top 25 collective revenue and 9 of the top 25 retailers. It is also the most lucrative sector with the highest average retail revenues.
- Southern Africa is headquarter to most of the top 25 African retailers – 17 of them, accounting for 93.7% of the total retail sales.
- Egypt emerges with the highest eCommerce sales at US$2.54 billion accounting for 2.16% of total retail format sales in FY13. However, Nigeria is the fastest growing at FY11-13 sales CAGR of 63.2%.