STOKVELS: Unlocking the power of stokvels
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Unlocking the power of stokvels
Helen Jane Maister, the publisher of Supermarket & Retailer magazine, and Busi Skenjana at the launch of Busi’s book, Stokvel Voices, which offers an in-depth exploration into the world of stokvels, revealing their strengths, debunking common myths, and uncovering the untapped potential within this unique financial system. Do you have your copy?
https://stokvelacademy.co.za/bookcollection/stokvel-voices/
Recognising the value of stokvels remains the exception rather than the norm in South African retail. Too often, these collective savings groups are still seen as informal or traditional, rather than as serious economic players.
This perception is not only outdated, considering stokvels manage billions of rands annually, but also represents a missed opportunity for retailers to build lasting, trustbased relationships with a powerful and organised consumer segment. Busi Skenjana, founder and managing director of the Stokvel Academy, says Culturally, she notes, stokvels embody a spirit of Ubuntu, rooted in trust, shared goals and mutual support.
“They foster social cohesion, particularly in the township and rural economies. Retailers who understand and respect the unique dynamics of stokvels are increasingly tailoring their offerings to meet the needs of these influential groups, recognising that stokvels don’t just follow market trends – they help set them.”
“Stokvels hold significant economic and cultural in fluence in today’s retail land scape, functioning as both powerful buying collectives and community-driven financial ecosystems. Economically, they contribute billions of rands annually to the formal and informal retail sectors, with their bulk buying power shaping stock strategies, seasonal promotions and even product development."
Delivering solutions: Tailoring retail to the stokvel shopper
Tailoring retail to the stokvel shopper Retailers are beginning to respond to the opportunity stokvels present, albeit slowly. “Retailers like Shoprite, Boxer and even some financial institutions have successfully created campaigns for stokvels,” says Skenjana. Mtshali adds that companies such as Tiger Brands, RCL Foods, Unilever and AVI have also developed longstanding stokvel focused campaigns. “These traditionally focused on bulk retail during the November–December buying season, but some have evolved into year round campaigns that engage stokvels during their planning phases.” Visser believes this momentum must be matched by real instore changes.
Designing the in-store experience
According to Skenjana, supermarkets can redesign their shopping experience for group buyers like stokvels, by creating dedicated services and spaces that acknowledge their collective buying power. This could include bulk buying sections with pre-packaged combo deals tailored for stokvel needs, exclusive booking times or express lanes for group collections, and flexible layby or preorder systems aligned with stokvel payout cycles.
She says that instore support like stokvel friendly customer service desks, group account facilities and budgeting consultations can enhance trust and loyalty. “By recognising stokvels not just as shoppers, but as community driven purchasing collectives, supermarkets can build long-term loyalty and tap into a highly organised and influential consumer base.” Even small improvements matter, says Mtshali. “Simple solutions like wider aisles for group movement or designated collection points for bulk purchases already go a long way toward adding value.”
Retailers must also prepare operationally for the highpressure stokvel shopping season – especially in November and December. “Retailers must manage stock levels, train staff to support group buying and coordinate logistics for group collection,” says Mtshali. “This includes preventing stock damage from overcrowding, managing bulk order logistics and ensuring smooth handovers during collections.”
Visser echoes the importance of practical planning. “Appointmentbased shopping for stokvel reps and digital preordering systems with convenient pickup options would streamline the experience, while dedicated spaces for stokvel groups to meet and discuss purchases would recognise the social dimension of stokvel shopping. Retailers should also consider specialised transportation assistance for the significant quantities purchased – many have to book an entire taxi.”
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