South Africa: Retail Foods Annual
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The five biggest corporations, Shoprite Holdings Ltd., Pick n Pay Retailers Pty Ltd., Spar Group Ltd., Walmart-owned Massmart, and Woolworths Holdings Ltd., account for a substantial portion of the retail food market in South Africa. When combined, they make up over 60% of all retail food sales. Retail food sales in South Africa reached a total of $39 billion in 2023. In 2023, consumer-oriented agricultural goods were imported by South Africa to the tune of $3.2 billion. In South Africa, retail trade sales account for over 20% of the country's GDP. Prolonged demand for healthier options in the fresh food and wellness sectors, growing interest in subscription services, and the necessity of omnichannel shopping—a hybrid approach that combines product information and reviews—are some of the major developments in the South African retail food industry.
