South Africans are spending less on their weekly shopping trip
Business Tech - May 23rd, 09:44
Tiger Brands, which carries brands including Koo canned foods, All Gold, and Tastic rice, said that revenue from continuing operations fell 2% to R15.4 billion in the interim period.
Group operating income declined 24% to R1.5 billion, while headline earnings per share (HEPS) from continuing operations was down 12% to 762 cents, from 868 cents.
The group declared an interim dividend of 321 cents per share, down 15% due to recent changes in the group’s dividend policy. It also declared a special dividend of 306 cents per share.
In its report, Tiger Brands highlighted data from Nielsen shopping surveys showing that South Africans spend around R11,650 on groceries annually – a 10% decline compared to July 2018.
This spend is spread out across 60 shopping trips a year, with the average basket value being R194 – R15 less than in July 2018.
The report cites Eskom as a growing concern due to its destabilising fiscal position, exchange rate volatility and the fact that disposable income has been impacted by electricity and fuel inflation.
How South Africans are shopping
The report also shows that South Africans are increasingly shopping on promotion, with 40% of respondents stating that they read newspaper broadsheets for specials, while 65% said that they actively compare prices across brands.
This has lead to changes in what South Africans are buying, Tiger Brands said.
It found that that South Africans are spending more on:
In comparison, it found that South Africans are spending less on:
Chilled processed meats
Five things you need to know about the pharmaceutical industry
14/06/2019 - 11:10
The pharmaceutical sector - both locally and globally - is following suite with general retail and going through uncertain times. More consumers are shopping the basics with baskets of necessities only. As CEO of the Shoprite Group, Pieter Engelbrecht, said in response to their interim results (which speak for the average South African), “In the external operating environment, economic conditions have left the group's core customer under significant financial pressure.”
Trade body will have a bone to pick in poultry tarrif case
14/06/2019 - 09:30
Those with intimate knowledge of the tariff application say that ITAC's position is akin to a zero-sum game, where they may have to choose between exposing local poultry producers to cheap imports they cannot compete with, or raising consumer prices for poultry to impossibly high levels.
SA's first citrus shipment arrives in China
13/06/2019 - 15:39
The historic shipment of 5 200 tons of citrus in a breakbulk vessel has arrived at Shanghai Port in the People’s Republic of China.
Increase in sales reflect stronger second quarter
13/06/2019 - 10:41
Data from Statistics South Africa (StatsSA) showed that retail sales in April increased 2.4percent year-on-year - the strongest gain in retail trade in six months, providing further evidence that the economy began the second quarter on a firmer footing following the first quarter’s 3.2percent plunge.
British online fashion retailer Boohoo bucks subdued industry trend
13/06/2019 - 09:12
British online fashion group Boohoo bucked a tough retail market with robust sales growth in its latest quarter as its offer of cheap clothing, delivered quickly, chimed with shoppers.