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The R5 packs of sanitary pads, launched in , and since purchased by millions of South African women and girls. And — extending the offer to financial services — the flat R5 fee for Money Market withdrawals while everything else on the account is free.
Comment: The power of a R5 coin, and the power of a good idea, communicated consistently. Good work, The Big Red One. Our sincere hope is that the conflict in Ukraine will not severely jeopardise this noble initiative. LiquorShop of course shot the lights out, coming off the very low base of lockdown prohibitions, and growing The Big Red One supports more than food gardens and over 2, home gardens, benefiting almost 17, South Africans, has trained more than community members in sustainable food gardening in the past year alone, and has distributed seedlings, fertiliser, gardening tools and more to help community members start and grow their gardens.
Comment: Critical work from a visionary business. Ed In these days of little phones and big data, retailers have increasing volumes of the latter on which to base their business decisions and better serve their customers. And also, it turns out, to parlay into hard, hard cash. One spinoff from the business, which was hatched in the ShopriteX incubator, is major savings in marketing costs and waste as Shoprite and its suppliers use Rainmaker Media as a precision advertising stream.
Comment: Good for the business, and doubtless others will follow. But it is to be hoped that there is room for existing media and advertising outfits in this new ecosystem. In other Shoprite news, the business has begun the new year as it will no doubt continue, responding to some of the natural disasters that have already wracked poor communities across the Beloved Country. Comment: A remarkable business, with a profound sense of what ordinary South Africans need.
Sixty60, like other home delivery services, has been something of a victim of its own success, with the business scrabbling to meet demand. Other businesses have rushed to make acquisitions to boost their delivery capacity — Massmart, which bought a controlling stake in OneCart in October, is a case in point. Comment: A shrewd move by Shoprite, keeping its friends close while not having to buy them outright.
Specialised healthcare items like wheelchairs, walkers and crutches are also on offer, as are services like the newly launched PrepMyScript, which enables pre-ordering of chronic medication, supported by the MediRite Courier Pharmacy Service for free door-to-door delivery, with all major medical aids onboard.
And in line with the aggressive expansion of the loyalty programme, Xtra Savings rewards naturally apply. To which Shoprite would doubtless say, hold my beer or in this case my nourishing superfood drink. Comment: And we ourselves would point to the Xtra Savings programme, last of the loyalty programmes to launch but now by no means the smallest. Look for growth both organically and acquisitively in the months to come. Ah yes. Kind of like a trading update, but for quarterlies.
We had to look it up ourselves. As well they might be. Shoprite also noted that NielsenIQ has estimated that its supermarket brands, including Checkers and Usave, had registered 28 months of uninterrupted market share gains. A sizeable chunk of this success is due to investments in technology in recent years. Comment: A South African retail icon, going from strength to strength in the toughest of times. This performance, they say, resulted from a shift in the sales mix, pleasing growth at Checkers as it increases its foothold at the upper end of the market, system-supported collaboration across the corporate teams that drove improved buying, more effective promos due to the reach achieved and data harvested through the Xtra Savings programme, and ongoing improvements in supply chain efficiency.
Comment: With the growing impact of the Shoprite X lab on the business, more of the same can be expected. Comment: Very solid results in what we can all agree has been one heck of a year. According to Shoprite — and it appears, quite reasonably so — yes, they are. Last week, The Big Red One called on the government to allow its , staff to receive vaccinations, on the grounds that a large number of them are directly serving over 25 million people a month.
This as the President announced that mining, manufacturing and the taxi industry would be prioritised for the fourth round of imijovo. The business also stands ready to assist in the broader rollout. It would do well to take Shoprite up on the offer. In other Shoprite news, not unrelated, the retailer has spent Rm over the past five years on retail skills and training programmes, training over 24, people in its retail readiness programme, providing 1, bursaries, and training 5, young people in the past three years in the Youth Employment Service YES programme.
Comment: Commendable stuff from Shoprite, creating jobs for the generation that most needs them. The command centre makes extensive use of technology and software systems including electronic dockets, suspect photo albums and evidence files. A team of data and crime analysts do predictive analysis, identify suspects, and link suspects to each other and to the crime scene. This technology, including video footage and a chain of evidence, has been critical in court proceedings. De Beer comes via the boards of such illustrious businesses as Aspen, Momentum, and Tongaat Hulett, with a background in governance, accounting and reporting, and is the Chair of the Public Interest Oversight Board, which oversees and monitors the standards set for audit and accountant ethics.
Gobodo has served on the boards of Clicks and Mercedes Benz SA, and has sat on various ethical and oversight committees too numerous to list here. Comment: Hawk-like oversight and nation building. A powerful combo. Its energy bill is currently in the order of R2. Comment: Those are some big commitments, as Shoprite gets the jump on the green energy revolution that is barrelling down upon us.
Where were we? Barely has the ink dried on reports that The Big Red One will be exiting Nigeria, and we have a buyer for their local assets, the dramatically named Nigerian property outfit Persianas. As you know, Shoprite has been in Nigeria for 15 years, and will be passing the slippery and dangerous baton to Pick n Pay, which is trying a small local super approach in that challenging geography. In other Shoprite news, they are adding a free monthly funeral benefit to their Xtra Savings loyalty programme, giving predefined beneficiaries access to a R4, Shoprite grocery voucher when the time comes, as an incentive for basic monthly card swipe requirements.
Comment: Genius. True and relevant value, in exchange for measurable loyalty. We also mentioned that the business was preparing to launch its own mobile virtual network operator MVNO — more deets on that too. Customers will be rewarded with free data and airtime. Comment: A business on fire, in the best possible way.
Checkers added a further ten FreshX concept stores during the period, for a total of Another highlight of the year was the continued growth of the bare bones Xtra Savings rewards programme, launched just over a year ago, and now boasting 17 million members. But for more of the deets, take a look at our snappy summary here. In other news, Shoprite and Checkers will be supporting local wine farmers while also, no doubt, making a buck by buying up 1.
Cultivars will include a sauvignon blanc, a merlot and shiraz, characterised by quaffability, and will be available in both supermarkets and LiquorShops. Comment: Some outstanding results and initiatives from the Big Red One, which seems to have viewed this last difficult year as an opportunity to innovate the heck out of every challenge it encounters.
They will naturally be inclined to spend some of that cash in store. Comment: Shoprite may not have been the first retailer to get into financial services, but typically, it has expanded its efforts in this area more comprehensively than most, with a sharp eye for the offering most relevant to its shoppers. Comment: A good set of numbers, all things considered. A bunch of factors. The high degree of informality in the market makes it difficult for businesses with more conventional cost structures to compete profitability, particularly since there is a bustling black market in real and fake branded goods sold into that market.
The government is quick to fine foreign businesses that overstep its sometime poorly defined boundaries. The oil-driven economy is in the midst of a five-to-seven-year bear market. Now that it has left the bulwarks of Kenya in the East and Nigeria in the West, we should look to more consolidation and a bigger market share play here at home.
Like putting up enough solar panels at its Brackenfell plant to cover a football field. Meeting a part of the energy needs of 18 stores around SA and Namibia with photovoltaic generation. Putting panels on the roofs of its refrigerated trucks, providing enough power to run over 1, fridges for a year, and allowing drivers to switch off their vehicles during drop-offs, reducing noise and emissions.
It has also signed an agreement which will see the Group procure , MWh of renewable energy per year for the next seven years. Food security has long been a preoccupation for the Big Red One, a pragmatist in all things including charity. Comment: We know as you do that all of our retailers are doing their bit during this incredibly difficult time.
Among the reasons for this, according to Checkers themselves, are the world class retail experience it provides, as embodied in the new Fresh X stores, the super-popular Sixty60 delivery service, its Xtra Savings rewards offering and the growing private label ranges under Simple Truth and Oh My Goodness!
In other less welcome Shoprite news, the business is being impeded in its timely and well-advised exit from Kenya by an outstanding legal claim from a man who accidentally pulled a pile of plastic box lids onto his own head. The judge in the case did mention that the order would be difficult to enforce. Comment: This seems both obstructive and extreme.
The business has been riding high these last weeks with news of the success of its Xtra Savings rewards programme, and the new Money Market Account which makes basic banking functionalities more accessible. In other Shoprite-related news, Checkers is continuing to expand its range of vegan products to cater for an increasing number of customers who are choosing to follow a plant-based or flexitarian lifestyle. Comment: Getting the basics right while keeping the innovation flowing.
The PMO team manages collaboration between all business units and the successful delivery, monitoring, and evaluation of projects. Comment: A bit of global recognition is always nice, and in this case well-deserved. First up, its bringing more financial services to its punters with an arrangement with FNB where customers who have lost their FNB Easy bank cards through theft or negligence will now be able to replace these for a comparatively low fee at Shoprite and Checkers stores.
Comment: Covering all the bases this week: loyalty, CSI and value-added services, with a bit of price thrown in. In happier news for Shoprite, over a million punters signed up for their Xtra Savings programme within 72 hours of launching after a successful trial at Checkers. Comment: The Tribunal finding is good for the malls, too, who need all the tenants they can get right now.
However, in the last few months there has been no shortage of either challenges or opportunities, and this has awoken the spirit of innovation in the Big Red One. Initiatives include accelerating its e-commerce and delivery services via Checkers Sixty60 and Checkers Food Services, and the launch of virtual grocery vouchers via Computicket virtual voucher and online order fulfilment initiatives. The business is exploring other innovations including computer vision, AR, smart robotics, intelligent paperless solutions, and advanced video-conferencing solutions.
Another innovation, of the more traditional variety and unrelated to the pandemic, is that Wendy Lucas-Bull is to bring her vast banking and consulting experience to bear on the Shoprite Board, where she is soon to replace Oom Christo Wiese as Chair. Comment: A highly significant appointment, with, one hopes, ramifications for women in leadership across the industry.
The two weeks before lockdown saw major sales across the Group, thanks in no small measure to panic buying. In other, perhaps not unrelated news, Shoprite announced that it intends to dispose of a majority stake in its Nigeria subsidiary and plans to exit Kenya by the end of For more info, see our summary here. Comment: A great South African business, innovating and adapting at the most difficult time any of us can remember. In other news, not unrelated, of the Big Red One, the Checkers Xtra Savings rewards programme, which kicked off several lifetimes ago in November , has signed up 4.
Comment: Nice work Shoprite, a combination of marketing innovation and sticking to the knitting, which sounds like a solid premise for our next Pinterest page. Put your hand down, Bezos. Aaaand from out of leftfield comes Delano Jasper, 18, of Wellington But it is. Comment: Great work, that young man! It does not affect your citizenship, nor does it affect your tax residency. Are there benefits to financial emigration?
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