KENYA – Carrefour, a globally recognized retail chain, has opened its 24th store in Kenya, located at the Nord Mall in Ruiru Town.
The new store aims to cater to the rapidly expanding community in Ruiru town, a key industrial hub in Kenya. The supermarket chain has announced that it will offer a smooth shopping experience, with appealing discounts across a broad selection of products.
“We are proud to continue our mission of delivering exceptional value to our customers with the lowest prices on everyday essentials and unmatched discounts and massive promotions across different categories,” said Christophe Orcet, Regional Director Carrefour East Africa at Majid Al Futtaim Retail.
“I want to extend my deepest gratitude to our partners, the Carrefour Kenya team, and the people of Ruiru for their support in making this store opening a success.”
This is Carrefour’s second store opening this year. In April, it opened a sprawling 600sqm supermarket situated in the Global Trade Centre in the heart of Westlands, Nairobi.
The entrance of multinational supermarkets close to estates indicates a dramatic transformation in the retail market in Kenya.
Traditional dukas and kiosks are gradually being replaced by modern retail formats such as e-commerce platforms, supermarkets, and shopping malls.
Oxford Business Group’s report suggests that formal retailers are beginning to expand their share of fast-moving consumer goods (FMCG) sales, an area traditionally dominated by the informal sector, as 70% of Kenyans do their shopping at informal vendors such as table-top kiosks and market stalls.
The group has ranked the Kenyan retail sector as the second most developed in Africa, with a 35 percent penetration rate.
The country’s retail penetration levels are second in Africa after South Africa’s 60 percent, surpassing Africa’s largest economy, Nigeria.
The Kenyan retail market is primarily driven by urbanization, population growth, and increasing disposable incomes. As more consumers shift towards organized retail formats, supermarkets, and hypermarkets, the demand for various retail products and services is on the rise.
“Over 2024, we hold a positive outlook for Kenyan consumer spending growth,” research firm BMI said in a recent report.
“Easing inflation, a stable employment outlook, lower debt servicing costs, and robust economic growth will provide tailwinds to our outlook.”
In Kenya, Naivas is the largest supermarket chain with 105 stores, followed by Quickmart with 60 stores. The major players in the Kenyan retail sector have also invested more in e-commerce, offering last-mile solutions.
According to a study by the Communications Authority of Kenya (CAK), revenue from the Kenyan e-commerce market is expected to grow at a combined annual growth rate (CAGR) of 19.15% and is anticipated to reach a market volume of KES 26.9 billion (US$208.2 million) by 2027.
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE