Whether or not there is Walmart in Nigeria is what we’re going to talk about today.
When you read further, you have a clear understanding of this international retail shop and whether they have a base here in Nigeria or not.
But before we delve deeper into our talk, let’s take a brief look at Walmart.
If you are looking for a business that offers low-cost goods, then Walmart is the ideal place for you.
They specialize more in hard-discount and also offer more than a hundred brands at a reasonable price.
In case you haven’t noticed, Walmart is one of the largest retail chains in the world with over 11,000 stores in 28 countries.
This is an American multinational retail firm that operates chains of large discount department stores and wire-house across the globe, just like we have remarked above.
It was founded in 1962 by Sam Walton but was incorporated only in 1969. Walmart has its corporate headquarters in Bentonville, Arkansas, and operates with its brand in the United States and Puerto Rico.
To date, Walmart has the third-highest number of employees worldwide, with over 2 million workers.
They have stores in countries like the United Kingdom, Pan, Mexico, Japan, India, Argentina, Botswana, Canada, Brazil, etc. Additionally, Walmart Company also conducts shipments for customers worldwide, including Nigeria.
Is there a Walmart Retail Store in Nigeria?
Unfortunately, Walmart does not operate a shop in Nigeria.
However, they got intentions to establish convenience stores in Nigeria, given the large economic activities and the population in the country.
The state of Lagos is chosen among the areas where Walmart wants to set up its store, being the economic hub of the country.
This was after Nigeria was ranked 4th among 15 African countries with the attractiveness for retail expansion.
In addition, it will be interesting to know that Walmart is currently involved in certain sponsoring programs in African countries, including Nigeria.
Examples include school nutrition, malaria treatment, and control, free treatment for people living with HIV, and other environmental initiatives.
When Walmart arrives in Nigeria, it will be confronted with major competitors such as Shoprite, Jumia, and Konga.
This is because they have been the biggest e-commerce distributors in Africa and have won much recognition and patronage across the continent.
Walmart Acquire a Stake in Massmart
Massmart is another remarkable African retail group that has been based in South Africa since 1990. The company mostly deals with local brands such as Game, Makro, Builders, Cambridge Foods, and much more.
In Africa, they are the second-biggest supplier of consumer goods. On top of that, the business is also the largest retailer of general products, goods, and other home improvements.
In November, Walmart acquired approximately 51 percent majority ownership in Massmart. Then close to June 2011, Walmart completed the purchase of the company’s stock.
It will interest you to know that Massmart has about six outs that are situated in some regions in Nigeria. These outlets are amongst the main wholesalers of staple foods, games, and other products in the country.
What Benefits Will Walmart Bring to Nigeria?
Wal-Mart’s arrival in Nigeria will provide more good than harm to the nationals.
First, it will create job opportunities that will absorb a significant number of young Nigerians. In addition, they are reducing their employees from the poverty line.
Second, Walmart will sell items such as groceries, furniture, auto parts, petroleum products, and other products at a lower price.
Walmart can support Nigerian farmers and their communities in the production of less resource-intensive food. Not only this but a reduction in the waste level will help eco-consciousness.
If this program is possible, Nigeria will benefit from a positive impact on the local market. They will also encourage the industries for more allocation of resources and best practices.
On a note shell, Walmart is known for its outstanding improvement of employment and ecological policies.
Walmart’s presence in the country will strengthen Nigeria by boosting productivity, service, delivery, and price efficiency in the retail industry.
How about the Downsides?
The existence of Walmart can lead to the loss of small independent businesses across the country.
It’s because those businesses are owned by people who make a little money to support their families, and most Nigerians are in such small businesses.
It was the same thing that happened after Walmart opened a store in Chicago around September 2006.
This situation could hurt the country, by increasing the crime rate other than that which is ongoing in most environments.
However, Walmart is worth more to the economy than small businesses in this country.
A couple of facts about Walmart
Right now we’re going to briefly look at some facts regarding this wonderful international retailer.
- Walmart’s founder is none other than Sam Walton, who at a point in time was about to lose his job at J. C. Penne.
- Walmart promotes healthy eating by committing to lowering the sugar, unhealthy fats, and sodium content of its food products. They continue to drive down the price of whole grain to promote healthy eating.
- Walmart employees are treated well as the company is proving them with a suitable working environment through the gift of incentives. In case you’re not aware, Walmart paid a billion dollars in bonuses to hire workers in 2009.
- Walmart generates its source of energy for the company so it can reduce its power bills. That is why they acquired the energy company “Texas Retail Energy”.
- Walmart can crush other local retailers in locations where their shops are located.
- Moreover, Walmart has ever operated as the largest private satellite network that connects single stores to head office.
While Walmart has not yet opened its store in Nigeria, it does have a good plan in regards to that.
Nonetheless, Nigerians can still place orders for all goods in any of Walmart’s international stores and have them delivered to their homes.
Nigeria will benefit greatly if Walmart can set up a store in the country.