× Digital News Videos Health & Science Opinion Education Columnists Lifestyle Cartoons Moi Cabinets Kibaki Cabinets Arts & Culture Podcasts E-Paper Tributes Lifestyle & Entertainment Nairobian Entertainment Eve Woman TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Retailers’ woes call for change of tack

By Editorial | July 15th 2020

First, Uchumi Supermarkets shut its doors. It was closely followed by Nakumatt and now the walls are slowly closing in on the Tuskys Supermarket chain.

The troubled retail market has seen jobs losses, pay cuts and reduced incomes amid desperate efforts to save cash. The current crisis brought about by Covid-19 has not helped the country’s shaky retail market either.

Consumption has fallen to historic lows in the last three months, a trend that is expected to only get worse as the pandemic takes its toll on lives and businesses.

The situation in the retail sector has in the past claimed several powerful brands. We understand that businesses have to die at some point, but even among humans, we always try to avoid untimely deaths.

Death of supermarkets does not only affect shareholders, but also devastates employees and suppliers and their families. These untimely deaths of major brands need to be prevented.

And the best place to start is at the top of these chains. Retail chains, whether family-owned or publicly-listed, need to be run professionally. Instead, what the public has been treated to is a looting competition by siblings who cannot tolerate each other.

Corporate governance is critical to any business, but how our big retailers are structured remains wanting. A competent board of directors will go a long way in not only saving these businesses from dying, but also ensuring suppliers and workers get their daily bread.

These weaknesses have not spared Tuskys. It has been dealt a blow as evidenced by the empty shelves and closures of key stores. The situation, no doubt, calls for quick intervention.

Virus war a matter of personal responsibility, not just the law
Citizens urged to take personal responsibility to reduce spread of coronavirus
Why Kenyan boxers are winning medals once again
The BFK led by President Anthony ‘Jamal’ Ombok was elected into the office in 2019 and has since...
Share this story