Shoprite, the largest grocer in South Africa, reported total growth of more than 15% in the 52 weeks ended July 2.
- The company grew sales in its core South African grocery business by 17.8% with like-for-like sales up 10.3%.
- The growth was driven by new stores, increased customer numbers, and discounts.
- Shoprite’s expansion strategy has been successful in stealing market share from competitors and growing sales.
- The company’s non-South African supermarkets saw a 6.3% increase in sales, while the furniture division’s sales rose by 16.6%.
- Shoprite’s profits have been boosted by a shift in consumer behavior towards online shopping and home deliveries.
- The company has invested in its online platform and launched a mobile app to cater to the growing trend.
- Shoprite’s CEO, Pieter Engelbrecht, said the company is committed to providing affordable essentials to customers.