Souk Bazaar, an Arabian retailer is set to replace Nakumatt Supermarket at the Nextgen Mall. Kenya’s retail sector has slowly been moving on an upward trajectory over the years. In comparison to other African markets, Kenya’s formal retail penetration rate – which ranges from 30% to 40%, according to analysts – is the second highest in sub-Saharan Africa. We have seen the expansion of types of retailing outlets along the traditional kiosks with the emergence of supermarkets, shopping malls and online shopping stores like jumia, olx and kilimall. In the past, the small retail supermarkets in our neighborhood bought goods to stock the shelves bearing both risk and cost of slow moving goods. Fortunately, the small retail supermarkets are having a larger market and are growing to be big supermarkets with more than one branch. By shifting focus from capital cities to smaller areas, investors get more for their money due to lower costs of land, resources and building materials.
The growth of small retail supermarkets that are located in the estates has been activated by Kenyans embracing shopping closer to their homes. It is not like in the past when people would only go to the C.B.D. Due to this emerging culture, real estate establishers have to ensure that while setting up malls, they also create a homestead around so as to provide a ready market for the mall.
Over the years, we have been able to see big names in the retail businesses having to be forced to close some of their doors to the public. Some of these retailers include Ukwala Supermarket, Uchumi Supermarket and recently Nakumatt Supermarket. It is quite unfortunate to see that big retailer stores are crashing to the ground especially Nakumatt which had no signs of struggling until in the last six months where shoppers could go in and find empty shelves and idle workers. The slow death of one of the biggest retailer stores in Kenya Nakumatt is said to be due to gross mismanagement, poor strategic decisions, tax issues and massive internal losses perpetrated by some wayward employees and suppliers. Nakumatt is allegedly having debts of over sh15 billion.
One major change that has occurred in the retail market scene is the entrance of international retailers. This is due to some of the local retailers like Nakumatt that have created gaps that need to be filled. The Carrefour supermarket is a French based supermarket that has opened its doors in Kenya at the hub Karen and at the two rivers mall. The major challenge that the supermarket has faced was the bad customer service that was being experienced by some of the Kenyan shoppers. It created a huge controversy and led to the supermarket to issue a public apology to its customers in regard to the complaints.
Another international retail supermarket that is opening its doors to Kenyans is the Souk Bazaar. It is meant to feel the void left by Nakumatt at Nextgen Mall to serve the neighbouring areas of South B, South C, Nairobi West, Embakasi, Mombasa Road, Langata Road, Imara Daima, Syokimau, etc. which are currently deprived of such extensive shopping choices and food outlets. Nextgen Mall hosts one of the largest and most varied cuisines in their food court spanning 15,000 sq. ft.
Souk Bazaar will offer flexible shopping times for its customers from 8.00 a.m. to 11.00 pm and will offer a range of products from household products and appliances, electronic items to food and beverages from a wide range of local and international suppliers.
The Souk Bazaar will offer a great range of discounts and offers some of which include selected crockery items having up to 40% discount. Infrared Table top, Gas cookers (which offer a 30% saving on gas consumption) for only KES 6,000/-LG double door refrigerator with a market value of KES 160,000/- has been discounted to KES 112,000/-. A free DVD player is being availed for every purchase of a 24 inch LG TVA. free printer is being offered with the purchase of every laptop and much much more.
Kenyans love discounts and offers, You don’t want to miss on this one.