ZIMBABWE’s formal retail sector endured a challenging year in 2024, characterised by stiff competition from the burgeoning informal traders, working capital constraints and high cost of operating ― all threatening the viability of most businesses.
This was compounded by a drastic decline in consumer spending as authorities’ tightening of liquidity in the economy weighed heavily on money circulation.
Resultantly, the big players in the sector, notably OK Zimbabwe, TM Pick n Pay, Choppies and FoodWorld admittedly felt the pinch.