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March 17, 2014

NIGERIA: Massmart to open seven value stores in 2014

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).

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.

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.

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