Despite a bit of a battering from Shein, Takealot is confident about its next growth phase
SA's largest e-commerce retailer Takealot says while its profit picture has been marred somewhat by competition from fast-fashion giants Shein and Temu, its core Takealot.com and Mr D delivery businesses have booked trading profits for the first time.
The owner of harder-hit Superbalist says it's also not giving up on apparel and footwear, while it's gearing up to add new offerings and services as it looks to be a"one-stop" shop for e-commerce in SA that it believes can't be fully matched by rivals. Takealot, which will be a decade old next year, is part of the Naspers group, and reported this week that its trading loss reduced by just over a third to $14 million in the year to end-March. The business felt general pressure as consumers struggled, but global competitors have made strong inroads into a price-conscious South African market as well.South Africans need to be in the know if we want to create a prosperous future.
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