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Walmart advent a boon to SA shoppers

Jul 16 2012 12:41

Company Data

MASSMART HOLDINGS LIMITED [JSE:MSM]

Last traded 136.01
Change 5.51
% Change 0.04
Cumulative volume 210802
Market cap 29.53bn

Last Updated: 24/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

SHOPRITE HOLDINGS LIMITED [JSE:SHP]

Last traded 172.05
Change 1.55
% Change 0.01
Cumulative volume 413660
Market cap 98.17bn

Last Updated: 24/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Walmart's entry into SA, with the retailer's low-cost philosophy, continues to shake up the retail sector as Massmart subsidiaries and its biggest competitors feel compelled to cut prices, said Business Report.

The paper quotes Alan Coward, CEO of home appliances supplier Amalgamated Appliances, as saying: "Walmart's entry has indeed resulted in consumers being winners.

"With Walmart coming here things have changed and competitors have upped their game. Suppliers have cut costs where necessary, especially in their distribution centres and their warehouses." 

Coward said although some suppliers had to reconsider their selling prices, "they have worked with the retailers but not in a collusive manner".

It is evident that competition is heating up in the retail space, especially between Shoprite Holdings [JSE:SHP] and Massmart Holdings [JSE:MSM], which have adopted longer price-cut promotion periods, the report said.

Retail analysts said price-cut promotions have definitely benefited consumers.

Since the beginning of the year, both Massmart and Checkers reportedly claim to have saved consumers up to R300m through aggressive discounting, and by keeping prices lower for longer.

 
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