Lockdown forced more of us to shop online, but for the first part of hard lockdown all activity other than essential services were shut down. Despite this, Takealot reported revenue growth of 55 percent in the year ending March 2021. The Naspers-owned group reported that revenue rose to $606 million (R8.7 billion), which helped the business to “near breakeven” in trading losses.
Takealot also reports on its gross merchandise value (GMV) traded during the period, which includes all traded goods from third-party offerings. It totalled R16.6 billion for the period, which as 69 percent than the year prior.
“Superbalist, one of South Africa’s leading online fashion destinations, grew GMV 45% in local currency and continued to contribute healthy gross margins,” Naspers said.
“Takealot’s food delivery business, Mr D, also had an excellent year as lockdown conditions shifted consumer demand from restaurant dining to online delivery. As a result, Mr D grew orders 117%, representing 93% growth in revenue year on year.”
Of course, Takealot wasn’t the only winner in the e-commerce space, with overall online sales in South Africa increasing by two-thirds in 2020.