According to a recent BusinessLive article, CEO of CNA, Benjamin Trisk, “only expects a recovery for the stationery business when back-to-school shopping starts in 2021”.
Edcon bought CNA for R141-million in 2002; it sold it for R1 to Astoria Investments in February.
Due to the Covid-19 pandemic and the five-week nationwide lockdown, consumer spend is under pressure on the back of a weak economy and a rise in retrenchments.
Growing digital platforms are selling competing products, often at better prices.
Trisk believes an improvement in CNA sales would come when consumers returned to shops. Foot traffic at the larger malls remains down, though some mall owners say while shopping fewer times a month, customers are buying more each time.
Trisk has reiterated his plans to revive CNA by:
- Improving the retailer’s book selection and adding more local African literature and books in local languages
- Improving the signage, curation and display in-store
- Cutting CNA product lines
- Removing chocolates, snacks, and tech products including laptops, cellphones and chargers