Takealot Reports A R111 Million Trading Loss, Despite 29% Growth In Revenue

Takealot
Atterbury - Architectural rendering of the Takealot distribution centre in Richmond Park

Takealot, the country’s largest e-commerce platform, reported today a trading loss of $7 million or R111 million, or a 1% trading loss margin, for the year to end-March 2022 similar to the 2021 financial year.

The Naspers-owned retailer said it remained near breakeven.

Despite increased competitive pressure from bricks-and-mortar retailers, Superbalist, one of South Africa’s leading online fashion destinations, delivered strong revenue growth of 55% and improved its trading loss margin by almost 2 percentage points to 7% during the year.

Mr D benefited from increasing awareness of online food delivery, a slower recovery of the restaurant market, and shifting consumer demand online. The business grew orders and GMV 51% and 51% respectively and improved overall profitability.

Also read: Takealot To Deliver Groceries In Partnership With Pick n Pay

Naspers-owned Takealot Group and Pick n Pay announced today that their two companies have signed a commercial services agreement which will enable customers across South Africa to buy Pick n Pay food, groceries, and liquor on a new platform on the Mr D app.

This new service brings together the strengths of Pick n Pay and the Takealot Group. Pick n Pay will bring its tremendous expertise in running fresh food and grocery, its nationwide store network, and its leading Smart Shopper loyalty programme.

The Takealot Group will bring its proven ability to satisfy online, its technical expertise, and its unrivalled delivery network.

“This is a great day for customers.  Pick n Pay already offers an excellent on-demand grocery service through asap!. By working with the Takealot Group, customers will now be able to benefit from a bigger, better, faster, and more exciting offer.  It will be the best of Pick n Pay now on Mr D, and benefiting from Takealot Group’s industry-leading platforms and service standards,” Pick n Pay CEO Pieter Boone said.

Also read: GUGU LOURIE: Amazon has its work cut out as it takes on SA and Nigerian online giants

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