Kit Kat Group's support of stokvels shows dividends
Issued by Gillian Gamsy International Communications - Dec 20th 2018, 08:36
For the third consecutive year, bulk retailer The Kit Kat Group’s long-standing association with stokvels is showing strong growth.
Current trading patterns show that 2018 looks set to follow the 30% growth experienced by the group in 2017 in stokvel trading alone, which was 20% up from 2016 figures.
Riaz Gani, the group’s CEO, says stokvels have always been a very important partner to the Kit Kat group. “A combination of value, extremely competitive pricing and trust has contributed to the loyalty from hundreds of stokvels which also bank throughout the year with the group. This loyalty has been built over several years, allowing us to maintain great relationships to make their money work even harder for them.”
“There are three key factors which have the strongest influence on why stokvel groups support us and why they stay with us: banking throughout the year at any of our stores, the implementation of secure systems for money collections and prices which are up to 15% cheaper than at other bulk retailers."
"We know that consumers are under pressure and are feeling the brunt of the constant increase in the cost of living so giving the best possible service to stokvels is paramount. We ensure we have adequate stock levels based on their needs and historical spending patterns to allow them to harness the power of collective bulk buying, economically and hassle-free.”
Current estimates from the National Stokvel Association of South Africa are that the South African stokvel economy is worth R49 billion and that there are over 800 000 stokvel groups representing 11,5 million individuals in what has become known as the “hidden economy” providing a financial safety net for millions of South Africans.
Gani says the stokvel groups, ranging in size from three to close to 200 members, support both the group’s cash-and-carry and express stores in trade which peaks from mid-November to end-December.
Facial recognition combats load-shedding shoplifting
26/03/2019 - 08:39
South Africa’s load-shedding woes are not limited to the inconvenience suffered by consumers. The country’s retailers are set for a dramatic spike in shoplifting, warns one facial recognition for business specialist.
How retailers can add value for consumers in turbulent economic times
25/03/2019 - 15:51
For the most part, it has been a dismal year for South African retailers; elevated household debt, higher fuel prices and an increase in value-added tax squeezed consumer spending. However, Ackermans, South Africa’s longest standing value retailer, performed well over 2018 reporting growth of just over 10% which is three times more than the industry benchmark.
Confusion around best-before dates causing unnecessary waste
25/03/2019 - 11:14
Confusion around best-before dates is widespread, causing unnecessary food waste. And in a country that's already food insecure, binning good food is not only unconscionable, it's plain wrong.
Pick n Pay introduces blood oranges to its fresh produce offering
22/03/2019 - 10:19
Fruit lovers no longer have to travel to Europe to taste the goodness of blood oranges. Pick n Pay has added rare blood oranges to its fresh produce offering making it the first retailer to offer this unique fruit to customers.
Instagram adds shopping feature for US users
22/03/2019 - 09:34
Facebook’s Instagram is trialling a feature that lets US users shop from the photo-sharing app by using a “checkout” option on items tagged for sale, the company said.