In the second quarter of 2023, Boxer Supermarket, a subsidiary of Pick’n Pay, delivered lower prices to consumers. “Many consumers buy fresh vegetables and bread at Boxer,” says Mr. Ngwako Ramaphalle of Bolobedu South in Tzaneen, Limpopo Province.
The store has demonstrated outstanding performance with a 16.1% increase in sales for 2023, as reported in audited financial statements to the board and shareholders. Despite the entire chain’s trading profit decreasing to R31.8 million, Boxer Supermarket showed an increased margin of R17.4 billion for the year.
Consumers, according to LSM data, find Boxer efficient and quick for shopping. The store has even expanded to sell liquor. Even during COVID-19, Boxer continued to offer lower prices amidst high inflation, with internal prices below the Consumer Price Index.
While the food chain shows potential for growth, the new management needs to focus on improving the core Pick’n Pay business. The financial statements indicate that the third quarter of 2023 was promising, with new stores and a clothing division being established.
