The Continuous Expansion of the African Retail Market
This article reflects on the growth of the African retail sector, which has been actively expanding owing to general growth patterns on the continent such as population growth, urbanisation, the rise of a middle class and increasing energy demand. It discusses the continued growth in the African retail market, mergers and acquisition deals as means to expand retail operations, sector specific factors impacting marketers and trends observed in the last few years.
Population growth, socio-economic development and increasing demand for transport fuels have all contributed to a large increase in the count of total service stations in Africa, which rose by almost 50% since 2015.
