JSE-listed SA retailers such as Shoprite and Walmart-owned Massmart are steeling themselves for a far tougher inflationary environment.
the maize price is dictated by the international futures market.
As SA retailers contend with higher inflation, Shoprite has vowed to continue subsidising essential foods such as bread. “We will continue to subsidise essential foods. For example, we have been selling a loaf of bread for R5 since 2016 and we will continue to do so, selling 1-million loaves a week. We will continue to take retail to the people, whether that is through organic growth or by acquisition as far as possible or by expanding on our home delivery system.”
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