E-tailer Superbalist faces retrenchments
Takealot Group-owned e-tailer Superbalist.com has embarked on a Section 189 process, which will lead to the restructuring of its business.
In a statement sent to ITWeb, the company says the restructuring and changes will potentially impact its headcount, and consultations are under way.
This, as e-commerce in SA struggles to maintain the peak levels reached during the height of the pandemic.
“Like many other businesses, we are faced with the reality that growth post-COVID-19 has not reached the levels that had been forecast. As such, we need to re-evaluate our structures to ensure the business operates effectively in this current economic environment,” says the statement.
“We are deeply conscious of the impact a change in business operations may have on our people. Our first and most important focus is on doing what is right for them, while still being conscious of the decisions we must make to deliver a business geared for a long-term future.”
The company says it is working hard to balance these two realities at all times.
Responding to whether Takelot.com employees will be affected, it says: “These actions remain unrelated to the rest of the group. Each operating company is measured against its own strategy and performance.”
For its interim results for the six months ended 30 September 2022, Takealot Group made a R224 million loss.
Over the past three years, online shopping has been booming in SA, reaching R55 billion in 2022, according to a study conducted by World Wide Worx in conjunction with Mastercard. Last year, online shopping grew by 30%, with 40% growth in 2021.