The plan is to cut prices to the value of R500-million on 1,300 items, including meat, vegetables and fruit.David North, Pick n Pay's group executive of strategy and corporate affairs, said this week: "We are doing exactly what we've said in our strategy, which is that we need to have a sales-led as well as a cost-driven recovery."The company, South Africa's third-largest grocery retailer in terms of market capitalisation, adopted a turnaround strategy in 2013, under the leadership of CEO Richard Brasher.Its discounting includes the Smart Shopper programme on which card holders can earn points, and one-day sales at hypermarkets at least five or six times a year. It has also used promotions such as Stikeez to draw shoppers.But North said on Wednesday: "We are certainly not dialling up promotional activity with this announcement." The company has said the programme is to help consumers, particularly low-income earners. The commitment to lower pricing was continuous, whereas "when you ...
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