Quickmart Supermarket continues to take a bullish approach to its expansion in the Kenyan market in the face of increased competition from online retailers and destination shopping malls.
The retailer opened its 58th outlet along Links Road in Nyali, Mombasa.
According to market analysts, the retailer’s decision to open the 24-hour store in Nyali was influenced by the desire to increase shoppers’ convenience and have a piece of the high-end market.
Tuko Fresh, Tuko Easy, TUKO NYALI. Tawi la Nyali sasa limefunguliwa rasmi! Tutembelee ili kufurahia punguzo la ajabu, bidhaa na huduma kutoka kwa tawi la 58.#Quickmart58#QuickmartNyali#QuickmartNyaliLaunch#NyaliTumewasili pic.twitter.com/uh0oTfflN6
— Quickmart Kenya (@QuickmartKenya) April 28, 2023
Other existing retailers in the area are Carrefour located in City Mall, Naivas Supermarket located in Nyali Centre Mall, and Chandarana FoodPlus located in Nyali Cinemax Plaza.
“The retailer’s entry, therefore, increases the competitive niche in the region and aims to establish its dominance in the coastal region, where it already boasts of two existing stores located in Mtwapa town and one store in Mombasa Central Business District (CBD),” says Cytonn Investments.
Additionally, the aggressive expansion of the retailers in Nyali and the larger Coastal region has taken advantage of the low formal retail penetration in Kenya which stood at 30.0% as of 2018, coupled with gaps left by other retailers such as Nakumatt, Uchumi, Choppies, Shoprite, and Tuskys Supermarkets, which exited the Coastal market.
