PICK N PAYONE particularly impressive aspect to Pick n Pay’s continuing ramble down the turnaround trail is that it has taken place against the backdrop of a moribund consumer market.The company lists all the usual suspects that have been lining up to bludgeon the disposable income of the man in the street, yet it has still managed to post creditably improved results by focusing relentlessly on the nitty gritty of the business. Making sure the right products are available at the right price may seem blindingly obvious, but it works.Pick n Pay has expanded and upgraded its store estate, particularly in its convenience store offering, responding to the consumer’s trend to shop more often for smaller baskets.Its online offering grew by 38% in the year, and it showed solid growth in value-added services, such as cellular, pre-paid electricity and third-party bill payments. This does risk producing the till of dread, when you pull up behind a specimen who reaches into the pocket and pull...
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