Epic: Marketsquare Marks 10 Years of Building Indigenous Retail Brand

Marketsquare has marked its 10th anniversary with reflections on its growth journey, saying the milestone underscores the potential of indigenous businesses to build competitive and sustainable retail brands in Nigeria.

The CEO of the indigenous supermarket chain, Ebele Enunwa said its decade-long expansion from a single store into one of Nigeria’s leading retail brands demonstrates the opportunities within the country’s organized retail sector despite economic challenges, inflation, exchange rate volatility and supply chain disruptions experienced over the years.

According to the company, the anniversary provides an opportunity not only to celebrate achievements but also to assess the evolution of Nigerian enterprise and the prospects for long-term growth in the retail industry.

Marketsquare stated that its business philosophy from inception was driven by the ambition to build a world-class retail company capable of understanding Nigerian consumers while creating value for local communities and businesses. Over the last decade, the company said it has grown into one of the country’s largest indigenous supermarket chains, serving millions of customers, creating thousands of jobs and supporting hundreds of local suppliers.

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The company noted that retail extends beyond the sale of goods, describing supermarkets as ecosystems that connect manufacturers, farmers, distributors, logistics operators and entrepreneurs to consumers. It said every store represents a platform for employment creation, business formalization and economic development.

Despite operating through two economic recessions, foreign exchange pressures, the COVID-19 pandemic and rising inflation, Marketsquare maintained that Nigeria remains a market with significant long-term opportunities. The company cited the country’s large population, rapid urbanization and increasingly sophisticated consumer base as factors that will continue to drive demand for organized retail.

According to Marketsquare, its expansion strategy has been guided by long-term investment rather than rapid growth. The company explained that each new store is the product of extensive planning and investment aimed at maintaining service quality, product availability and customer satisfaction.

It added that consistency has been central to building customer trust and loyalty, which it described as the foundation of sustainable businesses. The company said this approach has enabled it to expand steadily while preserving confidence among consumers and business partners.

Marketsquare also highlighted the importance of human capital in its operations, noting that retail is fundamentally a people-driven business. It stated that while technology and systems enhance efficiency, customer experience ultimately depends on employees across stores, distribution networks and corporate offices.

The company said investment in employee training, leadership development and organisational culture has remained a priority throughout its first decade, stressing that strong institutions are built by capable people.

Marketsquare further pointed to the growing influence of indigenous businesses in Nigeria, saying local enterprises have increasingly demonstrated their ability to compete in sectors previously dominated by international brands. According to the company, its expansion reflects the increasing capacity of Nigerian businesses to operate sophisticated retail models with strong governance and operational standards.

Looking ahead, Marketsquare said innovation will shape the next phase of organised retail in Nigeria. It noted that changing consumer behaviour and digital transformation are redefining expectations around speed, convenience and personalised services.

The company disclosed that its Vision 2030 strategy focuses on digital transformation, smarter supply chains, operational excellence and data-driven decision-making to ensure responsiveness to evolving customer needs. It added that technology should complement rather than replace customer relationships.

Marketsquare also identified sustainability as a key priority for the future, noting that businesses are increasingly expected to create value for employees, communities and the environment alongside shareholders. The company said responsible growth, stronger community engagement, support for local enterprises and waste reduction will remain central to its operations.

As it begins its second decade, Marketsquare said Nigeria’s organised retail sector remains significantly underdeveloped relative to its potential, presenting opportunities for continued investment and expansion.

The company maintained that long-term success requires businesses to build enduring institutions, strengthen local supply chains and create value that extends beyond commercial objectives. It added that the experience of the past decade has reinforced its belief that Nigerian companies are capable of building institutions that compete, lead and endure.