Shoprite, Africa’s largest supermarket retailer, has reported a substantial 13.2% increase in sales for the three months ending September 2023.
- The growth was driven by strong performances in the core Supermarkets RSA segment and the Other operating segment, which saw sales increases of 13.3% and 22.2% respectively.
- Despite facing internal selling price inflation of 8.3% in the Supermarkets RSA segment, Shoprite’s sales growth outpaced both inflation and the overall market.
- The company’s market share for the 52 weeks ending September 2023 showed a 124-basis point increase compared to the same period in 2022, marking the 55th consecutive month of market share gains for the core supermarket business.
- Shoprite’s focus on delivering low prices, unmatched availability, and market-leading innovation has contributed to its sustained growth and market dominance.
- The retailer faced challenges during the quarter, including a significant diesel bill of R281 million to keep generators running across its South African supermarket chain during load shedding.
- Store expansion remains a priority for Shoprite, with plans to open 195 new stores in the core South African supermarkets business and 10 stores in international operations during the 2024 financial year.