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Kenya: Retail Outlets Continues to Thrive on Reopening of the Economy

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4 years ago

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Nairobi — The reopening of the economy has continued to positively impact retail outlets, with increased demand for prime retail shops and high mall traffic being witnessed in the second half of 2021.

According to the H2 market update by Knight Frank Kenya, the increase in retailer activity saw an increase in prime rents from US$ 4.00 per square foot (sq.ft) per month in to US$ 4.10 per sq.ft per month.

Over the review period, the holiday season contributed to the increased mall traffic as consumers took advantage of various retail offers and celebrate the festive season.

“Additionally, better performing supermarkets continued to take up space occupied by struggling retailers, further attracting customers to the various retail outlets,” said Knight Frank.

The property consultancy firm noted that strategically located and more-established malls showed more resilience throughout the lockdown periods, partly because of being anchored by recognised popular supermarkets.

Naivas Supermarket, the largest local supermarket chain with 78 branches, opened five outlets in the period under review.

The locations include Juja Mall ,Nyayo Estate, Mega Mall Kisumu, Aga Khan Walk CBD and Oasis Mall.

Chandarana Food Plus, another local supermarket chain, opened 3 additional branches over the review period.

The locations include Golden Life Mall in Nakuru City, Buffalo Mall in Naivasha and the newly opened Highlands Mall in Eldoret Town thus increasing its number of branches to 23.