 Welcome back. It's still the breakfast on plus TV Africa. I am Yamgul and I also have more in here with me But right now we have the chief executive officer of one source supermarket in the person of Mr. Manuel Bribena welcome to the program Okay, have you ever heard sugar lily? When I say these you just know that there are people out there in the streets that are trying to make a living and they are Very competitive as it is But we still see that the supermarkets are thriving in In spite of all the things that are happening you go into the streets and of course we have a lot of traffic and people There are people who are glad there is traffic in Lagos because they have to make sales in those traffic They sell you what to eat what to drink and everything you can practically get Anything even a plate of rice in the traffic in Lagos here But how are the supermarkets able to stay afloat in spite of all this kind of competition that we have? That's our Wanda this morning and that's why you will hear mr. Bribena Tell us what you do differently because sometimes you go into the market You have the opportunity to bargain your price and you beat it. Sometimes it comes very low We also know that when you go into a supermarket is a severe pain for the AC that you're enjoying You're paying for the tires and everything so what have you managed to stay afloat. What do you do differently? Okay, thank you very much for having me For us basically as a philosophy what we've tried to do is position ourselves as a cost and price, you know competitive store and Are you talking generally about supermarkets or just one sauce? Well, let us not have things coming from one sauce because you are a one sauce I mean, I can only speak for you for ourselves and Based on the fact that I understand what our own competitive strategies are So what we try to do basically is to ensure that we source, you know competitively By eliminating all the middlemen that would have been on the supply chain That would impact on the pricing of the products. So yes, we are located in Victoria Island Yes, we are supposed to be off-scale But we've also prided ourselves as being a competitive store Price-wise so we are affordable Even though we should have all the opportunities that would have added to our cost structure So our focus is on mass market Ensuring that we attract as many people as possible to Enable us remain competitive. That's how we've managed to stay afloat. Yeah, but But what let me give you a funny example something you can get for let's say a hundred nair outside You get at one sauce for one fifty, but people still come So what we've done is to Understand what the customers actually meet everybody's looking for a place that is affordable and also convenient for their shopping If I run you through what it requires for you to buy at that particular place you Anticipate you get it at the hundred nair. It actually may cost you more So if you drive to the open markets, you have to first pack you pay for packing It's free parking at one source. See where he's taking me the convenience of that Such supermarkets offer and there are many of them in the country many legals many anywhere you go You have beautiful supermarket well-stocked the convenience. They offer is one of the attractions. However, I do know that Reports have revealed that in 2021 there was a decline, you know in the record of supermarkets. Is that still The situation or has there been a shift would you say? This the shift has not really happened is still there's still a decline the simple reason is One of the major brands is it a country Followed very shortly six months after another major brand. I had five stores now for them They are strictly focused on their return some the returns on your investments They are not nationals like us who are stuck with trying to do business the Nigerian way Irrespective of the challenges that we face So for them They take investment decisions based on does this work for me at this particular point in time If it doesn't work based on the templates that they run then they take it in an investment decision and exit The decline would continue because the cost pressures are there and will continue to rise for the first time in the history of our country We purchased, you know, a liter of diesel at eternal 14 era, you know this year You know, and of course that would enroll a lot of the margins that you know, many people have to Contend with on a day-to-day basis. The other issues are related to the You know multiplicity of taxation. I mean the manufacturer association of Nigeria listed over 18 different taxes and businesses are exposed to So for the organized businesses, those are the kinds of things you have to contend with Just like you mentioned in interestingly, it's similar products that we sell So a beverage is a beverage a bottle of water is a bottle of water So how much more would people be willing to pay simply because it's sold in a confined space that's attractive that becomes where You know, we've done continue to look for innovative ways to keep, you know, remaining competitive even though, you know We offer, you know, an environment that is still convenient. Yeah Interesting what you just said beverage is beverage anywhere Whether on the street or in the supermarket, but I wonder is there some sort of regulation and interface with government officials? I'm talking about the supermarket owners now because it's a it's a big thing. You guys are doing I'm concerned in asking this question about standards Of products purchased You find that some of the things we buy even though the prices have gone up the standards are falling For instance, pen you buy pen how much are we buying pen during our time? I mean, you remember how cheap they were but today you buy one pen is normal big Hundred and all of that but this it doesn't write well anymore You write halfway and it's messed up and you got to keep buying and buying and Same goes for some other products that we use on a regular the prices have gone up, but equality Has gone down. Is there any kind of way of checking or? Protecting consumers so we have this time as organization of Nigeria, which is saddled with the responsibility of ensuring that products are of certain quantity quality What are foreign imported products are locally made? We also have the in Lagos the legacy consumer protection agency that ensures that whatever is sold Mix I mean the basic standards of what consumers would appreciate now, unfortunately You would have a situation where the quality of one product would vary From another so they are pens that are still very good Albeit may cost slightly more and would you know, I mean satisfy your writing Experience without you know either getting you know cut off or getting smudged There are others that are probably cheaper that may then have to give that experience So the most important thing for any consumer to know is understand your brand preference And how that brand satisfies the need that you have so If you ask me for instance if you come into the store and you ask my opinion as to what you should use I would recommend something that will write throughout the lifetime of the pen Because I know it's you know tested untrusted Okay, let me some people will say that Elsewhere we don't have street hall cars We don't have an open market that people go to and bag in prizes and all that and Nigeria should look towards Modernizing our market space and the industry the sales industry and all that Do you believe that's something that can work in Nigeria in the space of time of like the next 20 years? Do you think? It is better for us to be at that level or to leave the competition the where it is Well, that's not I believe there will be a market for everybody In all honesty modern trade cannot in the next 20 years cater for all the needs of Nigerians There are Nigerians that enjoy the shared delight of walking into the open market and Engaging in that bargaining before they buy something What can we do differently by learning from other clients? We could actually improve on infrastructure Where those open markets are actually places that are accessible where you can pack with ease where you don't need to walk on Mode before you actually get in there So there will be different markets with different people and those different markets will attract different sets of customers Even if we're just modern trade that we can cater for everybody. That's the truth There will be people that their preferences will still be the open markets But yes, the modern trade will continue to improve as the supply chain improves You find that we're also able to deliver those goods at more affordable costs to the customers even with the mindset environment that we present There is this I'm sure more is coming off because the time is really up But the next government is coming. What kind of economic climate would you Prefer so that it will make trading which will make your market and everything better What policies do you hope that they will put in place? Personally, I think one of the biggest wins that the government, you know, can implement is to Reduce the issue of multiple taxations We have I mean, there are too many, you know, at the end of the day It's still one business that is subjected to all of those tax elements, you know so if they can reduce the issue of multiple taxation and Businesses thrive because it's my business always the engine of growth when the economy I Think that would be a very big win. The second thing is the duplication of agencies So for instance in the retail business, you have Ministry of Health from the local government coming to do inspection a minister of health from the state government Yeah, the minister of health from the federal government all Coming to inspect the same set of items You have, you know, so if we can have sets of, you know Parastartals that are, you know, given that responsibility and not the duplicity that we have today Then the cost of doing business will be reduced and of course we can then pass on those savings to the consumers at the end of the day Oh, thank you so much. Mr. Mano Burbina for your time Mr. Mano Burbina has joined us on this episode being entrepreneurial Thursday to take a look at Supermarkets thriving in a saturated sales industry. He is the CEO of one source mutt in Lagos This day with us will come back to take you to the world of sports find out what's happening there. Stay with us