Shoprite dominates the South African retail market, leading in market capitalisation, sales, profit, and boasting a considerable number of employees and customers.

Since 1979, the Group has served African households by providing food at low prices. Growing from eight to 3 639 stores. Beyond South Africa, they operate in nine African countries.

Shoprite announced its fiscal results on Tuesday, covering the last year until June 30th, 2024.  The group's revenue saw a 12.0% increase to R246 billion, with its core business, Supermarkets RSA, also recording a sales growth of 12.3% to R195 billion. In addition, the trading profit rose by 12.4% to R13.4 billion.

According to Shoprite CEO Pieter Engelbrecht, the 12.0% surge in sales reflects a significant rise in spending, amounting to an additional R21.4 billion.

This is the ultimate recognition for their hard work, creativity, innovative ideas and their steadfast commitment to serving others.  This is in line with their purpose,” to uplift lives every day by pioneering access to the most affordable goods and services, creating economic opportunity and protecting our planet.​”

Shoprite also announced that they are selling their OK Furniture and House & Home brands.  Shoprite is currently in talks to acquire the remaining 50% stake in Pingo Delivery, their last-mile logistics partner.  In November 2019, Checkers debuted their app, which was perfectly timed for convenient and contact-free shopping during COVID.

Shoprite’s Exceptional Achievement

Shoprite stands out as a top performer when compared to its main rivals, Spar and the lagging Pick n Pay.

As the leading food retailer in South Africa, Shoprite has consistently outperformed all other listed food retailers in terms of share price returns over the past years.

As of today, the investment in Shoprite would amount to R472.64, while Spar and Pick n Pay would be worth R179.94 and R57.24, respectively, states www.dailyinvestor.com.

Shoprite has consistently delivered growth to its shareholders for over 20 years without experiencing any decline in revenue.  Their average yearly revenue growth from continuing operations remained steady at 11.73% during the period between 2002 and 2024.

Initially, Shoprite was known to exclusively serve the lower LSM market through its Shoprite and USave brands, though as the company has grown, it has also revised its approach in order to gain a larger share of the food retail industry.

In the last ten years, Shoprite has placed strong emphasis on expanding and has successfully attracted customers in the higher LSM demographic.

Thanks to this strategic decision, the retailer is now able to rival Woolworths by offering comparable products at more affordable prices.

One of their greatest achievements is their cutting-edge Sixty60 online grocery shopping platform, which has helped establish their dominant presence in the online shopping market.

The group's gross profit margins experienced a direct positive impact from increased control and bargaining power over supplier goods.

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