I remember when 2 pick n pay stores within a walking distance from each other in Hyde Park & Craighall both closed only to be replaced by 2 Checkers stores also a walk from each other, and in almost exactly the same spots where PNP was. Interesting times.
South African retail is facing a massive identity crisis.
βThe economic bloodbath is spreading fast
β TFG is shutting down 100 underperforming stores.
β Pick n Pay just axed 56 stores nationwide in a massive reset.
β Massmart is reviewing 20 Game outlets for closure/conversion.
β Westpack & Petzone entering business rescue with store cuts.
βOur local malls are feeling emptier by the day, struggling to hold onto foot traffic.
βThe culprit? The unstoppable rise of ultra-cheap Chinese e-commerce giants like Temu and Shein aggressively eating everyone's lunch.
In a tough economy, R100 outfits and direct-to-consumer shipping are winning, but at what cost to local jobs and manufacturing?