The give-and-Takealot of Naspers’s bet on online retail
Takealot CEO Kim Reid speaks about the parent company, tech, and the outlook for online retail in SA
Naspers (https://www.sharenet.co.za/v3/quickshare.php?scode=NPN)-owned online retailer Takealot is geared up for what could be its busiest Black Friday, having made R196m on the day in 2018. Takealot CEO Kim Reid speaks about its warehouses, technology and outlook for online retail in SA.
How big is online retail in SA?
It’s probably sitting at 1.3% or 1.4% [of the retail market]. There’s no reason why it shouldn’t grow to 7%, 8% or even 10%. For our business, we’ll continue growing at the rates we have been growing at for the next five years. We’re in a very good spot – as long as we keep on executing, the opportunity to grow is there. ..