Africa is leapfrogging into the future of retail
The bi-annual Global Retail Development Index (GRDI), which is a study of the global retailing landscape has revealed Africa is poised to move away from traditional retail models and become the fastest-growing, richest, and most sophisticated market in the world.
Prashaen Reddy, a partner at management consulting firm Kearney says that this is thanks to the explosive growth of young, urban, and digitally savvy consumers; increasing mobile phone penetration; the creation of digital payment and shopping networks; favorable governmental regulations and spending initiatives; and significant investment by both foreign and domestic companies.
In the most stable times, retailers expanding their global footprint face a series of difficult decisions. Yet in the wake of COVID-19, together, these f...
