Whether or not there is Walmart in Nigeria is what we will talk about today.
When you read further, you clearly understand 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 briefly look at Walmart.
If you are looking for a business offering low-cost goods, then Walmart is the ideal place.
They specialize in hard discounts and 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 American multinational retail firm operates chains of large discount department stores and warehouses across the globe, just as 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.
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, given the country’s significant economic activities and population, they intended to establish convenience stores in Nigeria.
The state of Lagos is chosen among the areas where Walmart wants to set up its store, being the country’s economic hub.
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 specific 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 face significant 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 Acquires a Stake in Massmart
Massmart is another remarkable African retail group based in South Africa since 1990. The company primarily deals with local brands such as Game, Makro, Builders, Cambridge Foods, etc.
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 purchased the company’s stock.
It will interest you to know that Massmart has about six outs in some regions in Nigeria. These outlets are amongst the country’s leading wholesalers of staple foods, games, and other products.
What Benefits Will Walmart Bring to Nigeria?
Wal-Mart’s arrival in Nigeria will benefit the nationals more than harm.
First, it will create job opportunities that will absorb many 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 producing less resource-intensive food. Not only this but reducing the waste level will help eco-consciousness.
Nigeria will benefit from a positive impact on the local market if this program is possible. They will also encourage the industries to allocate resources and best practices more.
On a note shell, Walmart is known for its outstanding employment and ecological policy improvement.
Walmart’s presence in the country will strengthen Nigeria by boosting the retail industry’s productivity, service, delivery, and price efficiency.
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.
The same thing 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
We will briefly look at some facts regarding this excellent 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 lowering its food products’ sugar, unhealthy fats, and sodium content. They continue to drive down the price of whole grain to encourage healthy eating.
- Walmart employees are treated well as the company provides them a suitable working environment through 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 is the largest private satellite network connecting single stores to head offices.
While Walmart has not yet opened its store in Nigeria, it does have a good plan in regards to that.
Nonetheless, Nigerians can still order all goods in any of Walmart’s international stores and deliver them to their homes.
Nigeria will benefit significantly if Walmart can set up a store there.