Despite the challenges faced by small businesses, spaza shops are seemingly expanding from their traditional strongholds into the suburbs,
And despite the sector constantly being confronted by seemingly crippling challenges, Natasha Smith, TI managing director has noted that it is a resilient one, with a total value estimated to be worth R157 billion in 2019.Smith said just over a decade ago, many within the fast-moving consumer goods sector believed informal trade was dying, as the major corporates were extending their reach into previously underserved areas at a rapid pace.
According to a report from Yebo Fresh in collaboration with Ask Africa, one in three spaza shops experienced looting, nearly 80% of spaza shops lost more than half of their stock, and 87% of spaza shops require capital support to resume trade. “Trade Intelligence aims to enable collaboration and to this end we have identified certain areas that are ripe for the picking within the trade, opportunities where suppliers, services providers and the traders can work together to enable development within this largely untapped market, made up of as many as 200,000 spaza shops, spazarettes, superettes, midi wholesalers, and hawkers,” she said.
He said there was a massive growth of what he called spazarettes, which are supermarket-type stores which are where the real growth and strength of this sector lies.
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