Naspers and the Mapungubwe Institute for Strategic Reflection say South Africa can learn from the success of Shein and Temu in the country.
Naspers and the Mapungubwe Institute for Strategic Reflection say South Africa has an opportunity to copy Temu and Shein’s manufacturing models, reverse the country’s declining industrial capacity, and create jobs., which highlights the success and popularity of platforms like Shein and Temu, which use Chinese light-manufacturing capacity to feed platforms with trendy, affordable products.
South Africa has several e-commerce marketplaces, such as Takealot, Bidorbuy, and Makro, but they don’t operate overseas, meaning local sellers can’t access global markets through these platforms. However, it adds that part of Shein and Temu’s success in South Africa comes as a result of the retailers exploiting loopholes created by a 17-year-old tax concession.The spotlight fell on Shein and Temu’s import tax exploits in early 2024 when local retailers complained that they were exploiting import tax loopholes to undercut their pricing.
He said Sars is clamping down on these unfair advantages as it catches up on updating tax rules and administration services.
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