Shoprite, which owns brands such as Checkers, has passed on a 9.4% increase in selling prices to consumers.Shoprite hiked its prices by an eye-watering 9.4% in the last half of 2020 - and analysts expect similar increases from other retailers, as they battle high food prices and the soaring costs of load shedding.
Woolworths, the only other large food retailer to bring out a trading update this year, hiked its prices by"only" 6.8% in the same period as it fought for market share.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
_Business That's why we don't support retailers anymore. Buy direct from manufacturer.
_Business
_Business As usual, consumers just have to pay. Our expenses keep rising, yet our incomes must stretch further and further while we don't see any increases in income. These retailers have made enough profits from the consumer that they can absorb these costs.
_Business Retailers protecting margins and bottom line profits as a result of increasing costs. It's costing millions to keep the lights on during load shedding and unfortunately, rising food inflation doesn't make it easier.
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Source: News24 - 🏆 4. / 80 Read more »