Pick n Pay at a glance

The Group operates 2 204 stores across multiple formats in eight countries across Africa. With our rich 56-year history, we benefit from strong brand loyalty and broad socio-economic appeal within the regions we serve. The Group is a retail business in the
fast-moving consumer goods industry. We operate through multiple store formats under three main trading banners – Pick n Pay, Pick n Pay QualiSave and Boxer – and have a 49% investment in TM Supermarkets in Zimbabwe. We procure quality products at the best available prices, and our increasingly lean and efficient operating model is supported by a strong and talented team. This enables us to provide our customers with a tailored range of high-quality food, grocery, clothing, liquor and general merchandise products at competitive prices. We believe doing good is good business. Our resolute focus on cost savings and operational efficiency has underpinned sustained investment into our customer offer, driving sustainable value growth for all stakeholders.

90 000 Employees

Four Brands

2 204 Stores

R106.6 billion Turnover

Owned and franchise stores in eight African countries
Main trading banners – Pick n Pay, Pick n Pay QualiSave and Boxer
Hypermarkets, supermarkets, convenience stores and online platform
Serving customers across all income groups
Food, non-edible groceries, clothing, health and beauty, liquor, building and hardware and general merchandise
Branded merchandise and private label
Value-added services

Brands

Pick n Pay is a multi-format and multi-channel retailer, operating on an owned and franchise basis.

Our Pick n Pay supermarkets serve customers in middle- to higher-income communities, with an expanded range of 18 000 products that delivers on innovation, quality, freshness and convenience – including through experiential meat, produce, and bakery lines. Our Pick n Pay supermarkets are being modernised to ensure customers get the best quality at great value, and an improved in-store experience.

The QualiSave banner was launched on 15 August 2023 and 155 stores were converted to QualiSave by February 2023.

Our QualiSave supermarkets serve customers in lower to middle-income communities, with a tailored range of 8 000 essential food and grocery products that delivers on low prices, great quality and deeper value on the products that matter most. The stores are modern and vibrant and provide a market feel for those looking for great service and reliable value. QualiSave provides Pick n Pay with a highly competitive value format. Reflecting the income demographic in South Africa, and the increasingly difficult macroeconomic conditions, QualiSave sales growth has outpaced Pick n Pay sales growth since launch.

Boxer is South Africa’s leading limited-range discounter. The target markets are middle- to lower-income urban, peri-urban and rural communities of South Africa and eSwatini.

All Boxer stores are located close to public transportation hubs and have a welcoming market-style atmosphere, offering essential daily commodities such as maize meal, rice, samp, sugar, oil and beans, as well as perishables, health and beauty products, general merchandise and bulk-buy offers. There are no franchise stores under this brand. The Group’s long-term Ekuseni Strategy recognises the significant potential of the Boxer brand in the South African market and targets 200 new Boxer stores over the next three years. Boxer’s geographical heartland is KwaZulu-Natal and the Eastern Cape – with strong opportunity for growth across South Africa where it can serve the needs of communities through its focused product range, affordable prices and community-rooted staff.

The Group has a 49% investment in its associate TM Supermarkets in Zimbabwe.

TM Supermarkets, trading under TM and Pick n Pay, is one of the most trusted retailers in Zimbabwe. TM continues to deliver a resilient trade performance, delivering volume growth and market share gains in an exceedingly difficult economy and trading environment. With its payoff line, “Real Value Always”, customers are offered a wide range of groceries and perishables and a limited range of general merchandise. TM Supermarkets draws its customers from all communities and income groups across Zimbabwe, with store formats ranging from large supermarkets to convenience and liquor stores.

What sets us apart

Customers are at the heart of our business. Consumer sovereignty informs everything we do, from how we source and buy our products and the product range we offer, to how we design and run our stores to give customers great value and service. Putting the customer first means we always work hard to understand their diverse and changing needs and how we can serve them better.

STRONG BRAND LOYALTY

Pick n Pay is one of South Africa’s most iconic and inclusive brands. We have moved hand in hand with the changing needs and aspirations of our customers for 56 years. Under the Group’s Ekuseni strategy, the Pick n Pay brand is even closer to customers – with Pick n Pay and QualiSave providing product ranges, promotions and customer engagement specifically tailored to meet the needs of customers served.

Boxer has a rich 46-year history and is Africa’s fastest growing discount supermarket chain, with strong market share gains over several years. Boxer wins customers by providing unbeatable value on the products that are most important to customers in the lower- to middle-income South African communities. Also, by having a modern store estate, a tight and targeted product range, and a strong fresh meat and produce offer.

TM Supermarkets is one of the most loved and trusted supermarket brands in Zimbabwe. Trading alongside Pick n Pay, it has demonstrated exceptional resilience and momentum in a challenging hyperinflationary environment.

Operating in a growing market

South Africa is a diverse and dynamic country, with a sophisticated and rapidly evolving customer. The retail market is highly competitive and constantly adapting to changing customer trends. We are confident that the local formal food and grocery market is on a growth trajectory, notwithstanding the current challenges from load-shedding, and that the Group has a significant opportunity for growth, specifically in the less affluent part of the market.

EXCELLENT STORE NETWORK

The Group has a broad and dense store estate - with 2 204 stores catering to all demographics and customer segments. The combination of our brands and formats is formidable, providing proximity to many customers and growing communities. In addition to our company-owned stores, our community of Pick n Pay franchisees is a true strength for the Group – highly skilled, committed, and community-centred.

PROVEN GROWTH ENGINES

The Group has built successful growth engines alongside its core Pick n Pay food and grocery offer - including Pick n Pay Clothing, Liquor, Boxer, Value-Added Services and Online - which have all delivered strong growth for the Group over recent years.

The Group has seized opportunities in the markets in which it operates, ably supported by an outstanding information technology infrastructure – including an end-to-end SAP system that enables automated and centralised processing, and the forecast and replenishment of inventory. Our point-of-sale technology enables an advanced suite of value-added services, including money transfers and banking transactions, and supports our Smart Shopper loyalty programme, including the redemption of personalised discount vouchers directly through the programme’s digital app. The Group’s information technology platform is modern, robust, integrated and highly scalable, providing the Group with valuable customer insights and a strong platform from which to grow its omnichannel proposition.

STRONG PLAN

We are a future-fit Group with a strong plan and determination to:

Grow market share through the roll-out of proven formats
Cement Boxer as the African discount champion
Strengthen our engagement and relationship with Pick n Pay customers
Embrace technology and strategic partnerships to drive growth
Improve our margins and key performance metrics
Grow shareholder returns over the longer term

COMMITTED TO DOING GOOD

Our sustainability efforts – and increasingly, our strategic decisions – are guided by an ESG framework focused on:

Partnering to shift the food system
Reducing our environmental impact
Supporting communities
Investing in our people