Loot.co.za CEO Gary Hadfield says that even though the $100 million cash injection into Takealot.com’s business has made it tougher to compete, it’s a great thing for SA e-commerce.<\/p>\n
Speaking at the uAfrica.com eCommerce conference in Midrand, Hadfield said that the pressure was on for competitors in the local e-commerce space, but the investment was “the best thing since sliced bread” for the greater industry.<\/p>\n
In May Takealot.com raised $100 million (just over R1 billion) from its major shareholder, New York-based Tiger Global Management.<\/p>\n
Takealot CEO, Kim Reid has previously stated the group’s intent to become the biggest online retailer in South Africa by next year – a position currently held by Kalahari.com.<\/p>\n
Hadfield was previously the CEO of Kalahari.com before moving on to start Loot.co.za.<\/p>\n
Hadfield noted that, in his 13 years of experience in the industry, he came to realise that even the big players in the market don’t get everything right – leaving room for smaller business to take advantage.<\/p>\n
Specifically, the CEO said, bigger companies had larger logistics issues to deal with.<\/p>\n
“It’s not always easy to compete against the big guys, but by focusing on key competencies, you can boost business in specific places,” he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Loot.co.za CEO Gary Hadfield says that even though the $100 million cash injection into Takealot.com’s business has made it tougher to compete, it’s a great thing for SA e-commerce.Gary Hadfield, Takealot.com, <\/p>\n","protected":false},"author":10,"featured_media":67638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[8758,26,8760,3314],"class_list":["post-67636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-gary-hadfield","tag-headline","tag-loot-co-za","tag-takealot"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/67636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=67636"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/67636\/revisions"}],"predecessor-version":[{"id":67642,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/67636\/revisions\/67642"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/67638"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=67636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=67636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=67636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}