Quickmart Supermarket on Friday opened its first 48th store in Kitengela at OBC Kitengela Mall.
The Kitengela outlet is the retailer’s first store to be opened in 2022, and also the first store to be opened in the town. It will now compete with Naivas and Eastmatt who are already established.
“The store will feature prominently our fresh sections; deli, bakery, butchery, fresh fruits, vegetables, foods, personal care, homecare, textiles, electronics and household goods,” Quickmart’s marketing director Betty Wamaitha disclosed.
Kitengela town is attractive to business because of its positive demographics, with Kajiado County where Kitengela lies currently having a population growth rate of 4.6 per cent against Kenya’s 2.3 per cent.
In terms of performance, according to Cytonn Annual Markets Review 2021, satellite towns where Kitengela lies recorded average rents per SQFT of Kshs 142 compared to the market average of Kshs 170 per SQFT, hence supporting the retailer’s decision to open the new store in the area due to affordability.
QuickMart has remained bullish after Sokoni Retail Kenya acquired a controlling stake in the retailer and merged operations with Tumaini Self Service under the QuickMart brand.
“We expect the retail sector to continue witnessing expansion activities by local and international retailers such as Naivas, QuickMart, Optica, and Carrefour. This will be driven by factors such as positive demographics, infrastructure developments opening up areas for accessibility and investments, as well as, the improved business environment promoting transactions and activities.
However, the existing oversupply at 1.7 mn SQFT in the Kenyan retail sector and 3.0 mn SQFT in the NMA retail sector, the growing popularity of e-commerce, and, business uncertainties brought about by the incoming elections, is expected to weigh down the performance of the sector,” Cytonn Investments Analysts project.