- Oct 16, 2018
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Makro and Game experience big increase in online sales
Massmart has released its interim results for the 26 weeks ended 28 June 2020, which showed a big decline in revenue and profit.
How Takealot crushed Makro
Takealot is South Africa’s largest online shopping platform, with over 2,000 employees and sales of around R1 billion per month.
Takealot is owned by Naspers and operates the country’s top ecommerce platforms - Takealot.com, Superbalist.com, and Mr D Food.
Pessimistically, I suspect the reason that Massmart has not captured more of the ecommerce market, is that people know that giving their hard earned money (in particular to Makro) results in not getting the goods in a timely manner, it is less problematic to buy in store.What is particularly encouraging for Massmart is that, despite this growth, online sales still only accounts for 2.1% of total sales.
This means there is a lot of potential for the retailer to grow online sales and capture a larger share of the ecommerce market in South Africa.