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SA’s Largest Online Retailer Takealot.com Revenues Defy Pandemic

South Africa’s largest online retailer, Takealot.com, reported on Monday a 41% jump in revenue to $238 million (R3.7 billion) in the six-months to end 30 September 2020.

The Naspers-owned group was permitted to sell only essential goods, while Superbalist and Mr D Food could not operate at all.

“The business rebounded in late May when trading restrictions were lifted and all three businesses exceeded their pre-Covid-19 growth rates in the second quarter,” Naspers informed investors on Monday.

The Takealot group generated $407m GMV, growing 85% in local currency. “Given this strong topline performance, Takealot delivered a trading loss improvement of 36%, despite, significant one-time pandemic-related investments.

The core Takealot.com platform grew GMV by 88% in local currency, with the 1P and third-party (3P) businesses growing 69% and 119% respectively.”

Superbalist, South Africa’s leading online fashion, beauty and home store, grew GMV 37% in local currency and delivered healthy gross margins.

Mr D Food, South Africa’s leading food-delivery service, continued to scale and expand the local market for food delivery.

“Once lockdown regulations were lifted, Mr D Food regained its momentum and grew GMV 101% in local currency for the period.”

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