Pick n Pay faces a tough rival in battle for well-off shoppers
CEO Pieter Boone says the company needs to focus on the middle-range and upper-end segments
20 October 2021 - 08:31
UPDATED 20 October 2021 - 23:07
In his first results presentation since taking over as CEO, Pieter Boone said Pick n Pay will defend its position to keep attracting consumers from the upper-middle class as the earnings report hints it may be losing market share amid fierce competition for customers.
Pick n Pay welcomed Boone in April, inheriting a company that operates in a crowded food retail market where Shoprite, which is best known for its flagship no-frills chain of the same name, is taking the fight primarily to Pick n Pay in the middle- to upper-income consumer segment with its Checkers outlets...
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