CONSUMER TRENDS
Pick n Pay opts for smaller stores to suit shopping habits
Pick n Pay will avoid building "huge stores", as consumers are becoming less inclined to do large weekly purchases, says CEO Richard Brasher. Excluding its Zimbabwean operations, the retailer opened 124 net new stores in the year to February 25, adding 3.3% to its total space. None of these new stores was hypermarkets, while the number of Pick n Pay supermarkets rose just less than 3% and the number of "local" stores surged 23%, albeit off a low base. Clothing and liquor store numbers also rose meaningfully. Brasher said total store growth of about 3% was "sustainable". "As soon as you start trying to chase more space, you’ve got to be careful that you don’t end up with stores that are too big — I am a fan of smaller stores. "I think some of my competitors think we’re only interested in opening convenience stores, but I’m interested in opening stores that are the right size for customers – which, by and large, is a bit smaller and closer to where people live." This was because traff...
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