Shoprite CEO has advice for European retailers amid their electricity crunch | Fin24

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Shoprite CEO has advice for European retailers amid their electricity crunch | Fin24
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The chief executive officer of Shoprite, Africa’s biggest grocer, is advising European retailers to prepare to boost investment to plan ahead and manage disruption from interrupted energy supplies. | Fin24

The chief executive officer of Shoprite, Africa’s biggest grocer, is advising European retailers to prepare to boost investment to plan ahead and manage disruption from interrupted energy supplies.dramatic price increases

“I never thought they would have to experience what for us has sort of become daily life,” Shoprite CEO Pieter Engelbrecht said in an interview. “We’ve got standby electricity and standby water, because that’s the next thing that’s going to come.” “The price has given us a kick up the backside to invest in lower consumption and that has helped mitigate the huge increase in costs,” said Chairman Bernard Dreesmann. “It’s a real challenge.”

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