South African retailer Massmart is set to open seven “low-income” stores in Nigeria during 2014, a spokesperson for the company told just-food today (17 March).
In a bid to expand its presence in food retail in the African region, the firm is launching further Valumart stores in Nigeria following the launch of a pilot store in Lagos in February.
Go deeper with GlobalData
Valumart is a small, low income grocery store. The format was “specifically developed with reference to market conditions and customer expectations in Nigeria,” said a spokesperson.
Though trading area will vary, on average, each store will be around 300 square metres.
Supermarket giant Wal-Mart owns a majority share in Massmart.
