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Online Sales Shine Amid Disappointing Results at Pick n Pay
Online sales at Pick n Pay have grown by nearly 75% in the past year. The company has also doubled its on-demand sales via its ASAP! App and Takelot’s Mr. D app.
Pick n Pay said, “The group reported total online sales growth for FY24 of 74.4%. This maintains its strong online momentum (FY23 sales up 72%).” However, the company didn’t disclose rand numbers for its online sales.
Pick n Pay Online Sales Increases
The company highlighted how its growth was driven by a 102.3% year-on-year increase in its on-demand services. Nevertheless, Pick n Pay has a long way to go if it’s going to beat Shoprite Holdings-owned on-demand platform Checkers Sixty60. The Checkers Sixty60 has established an early and commanding lead in the sector.
The asap! application was relaunched with enhanced functionality in October last year. It continues to be improved through advancements in artificial intelligence. This includes AI Search and Alternatives, personalisation, and a more reliable app. Also, the business has spent substantial resources to ensure its architecture is scalable, cost-effective, and future-proof. All these are possible while using the latest cloud-based technology and engineering practices.
Pick n Pay Maintains Online Services Growth
The asap! service has been expanded to 541 stores, including franchise stores. Pick n Pay said, “The business is poised to capture further growth in FY25. This maintains its high growth rates by further improving its service and in-app experience.”
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Also, it has embarked on a two-step recapitalisation plan, that includes a rights offer. It plans to list better performing Boxer separately to “unlock the value of the Boxer asset for Pick n Pay and its shareholders”.
The company said, “The strategic plan is operationally focused on the turnaround of Pick n Pay supermarkets and hypermarkets. We will focus on eliminating losses incurred by specific loss-making company owned stores and improving the performance of the remainder of the estate.”
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Pick n Pay Futuristic Plans
Over 100 loss-making supermarkets will either be closed or converted to Pick n Pay franchise or Boxer stores. Improving the performance of the remaining estate will be achieved via initiatives to drive like-for-like sales growth and optimize the operating model.
Finally, Pick n Pay said, “The plan is highlighted by renewed customer focus, with energized employees, and improved execution at store level.”
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