Pick n Pay Set To Invest R2.5 Billion In Its Growth Strategy
Pick n Pay Set To Invest R2.5 Billion In Its Growth Strategy. Retailer Pick n Pay says it plans to invest a further R2.5 billion to deliver on its growth strategy over the next year. This will include a ‘new space growth strategy’ which focuses on increasing store footprint in the lower-to middle-income communities of South Africa, it said on 21st of April in its financial results for the year ended February 2021.
“The group believes that this area of the South African retail market will deliver the greatest growth over the medium- to long-term, driven by an expanding working-age population, urbanisation, and the ongoing formalisation of the informal market. The group is under-represented in this area, which provides a strong growth opportunity for its Pick n Pay Value and Boxer supermarkets,” it told Business Tech.
Pick n Pay said this will provide customers with a revitalised, modern and convenient shopping experience and delivering stronger trade performances and higher investment returns off a significantly reduced and tailored range.
Pick will also integrate its various shopping channels into a new website as it prepares to stronger push into the online market, chief executive, Richard Brasher told Business Tech. “Our online business responded extremely well to cater for customers in the lockdown, doubling scheduled deliveries and click n collect orders. We are now going to integrate our various online channels by launching PicknPay.com. Customers will in future be able to shop seamlessly with Pick n Pay anytime, anywhere and in whichever way they choose.” he said.
“As a result of consistent levels of availability and good on-time delivery rates, customer satisfaction was up 8.5 percentage points year-on-year. Building on the tremendous momentum achieved during the year, the group purchased the Bottles business in the second half of the financial year to drive integration and innovation across our platform. The combination of a strong and established digital platform, dedicated fulfilment centres and in-store picking, alongside a decade of detailed loyalty data, provides Pick n Pay with a strong position from which to continue to drive innovation in e-commerce in South Africa.” Pick n Pay said in a statement.
