The surge of big, multi-national brands (such as Walmart, H&M, Zara, Burger King and Starbucks) entering our local market is challenging South African retailers.
The Money Show’s Bruce Whitfield interviewed Guy Lundy, Partner at Odgers Berndtson Sub-Saharan Africa.
Scroll down for quotes from the audio below.
It’s definitely good for consumers!— Guy Lundy
Brand power is one of the biggest challenges that local companies face from these foreign companies.— Guy Lundy
Foreign companies may end up paying more for local talent as it’s becoming increasingly difficult to bring skills in from abroad.— Guy Lundy
This brings in new ideas and ways of doing this. It could be good for our retail sector.— Guy Lundy
This is, ultimately, good for the “skills pool” in South Africa.— Guy Lundy
If local retailers don’t recognise the challenge, they’re definitely going to be under threat.— Guy Lundy