In a surprise development, Takealot.com has announced that its CEO, Kim Reid, is stepping down from the role. He is not leaving Takelot, though – he will become chairman of South Africa’s largest online retailer later this year.
Browsing: Retail and e-commerce
African e-commerce pioneer Jumia said on Wednesday its cost cuts helped it reduce fourth quarter losses by 47% from a year ago, even as revenues continue to slide, showing that its path to profitability was on course.
Woolworths delivered a more than 58% improvement in headline earnings per share in the 26 weeks ended 27 December 2020, with the retail group benefiting, in part, from a big focus on e-commerce.
JSE-listed Imperial Logistics announced on Tuesday that it has bought South African e-commerce logistics specialist Parcelninja. Terms of the deal were not disclosed.
Many consumers have taken to doing their shopping online and adopted new trading habits. This trend has seen a rise in the use of delivery pick-up points.
Naspers and Prosus CEO Bob van Dijk does not expect Amazon.com to enter South Africa’s e-commerce sector “any time soon” given the “really good job” being done by Naspers subsidiary Takealot.com.
Amazon.com founder Jeff Bezos will step down as CEO and become executive chairman, naming the head of its lucrative cloud computing division as successor.
South African retail sales fell more than expected in November, despite deeper Black Friday discounts and month-long promotions, pointing to lingering weakness in the economy
Alibaba and Ant co-founder Jack Ma has resurfaced after months out of public view, quashing intense speculation about the plight of the billionaire grappling with escalating scrutiny over his Internet empire.
Jumia Technologies is looking beyond an immediate target of generating a profit from its pioneering African e-commerce business, laying out longer-term plans to spin off divisions and enter new countries.