Retail giant Pick n Pay have committed today to slash prices for essential and staples food by R500 million this year to relieve pressure on embattled households.
Pick n Pay CEO, Richard Brasher, said various commodity lines will benefit from this commitment on a week-by-week basis and that these products will include a range of brands, including the PnP own brand range.
“Our customers and their families are under huge pressure as the economy faces low growth and job insecurity. Currently planned at R500m for this year, this commitment will help deepen our already low prices on everyday essential items and keep basic food items even more affordable for customers,” said Brasher.
“By becoming more efficient and effective, we can give better and better value to our customers. There has never been a better time because customers are telling us that they are deeply worried about the economic impact of COVID-19 and what this might mean for their household budgets. Our work will provide relief on essential items so we can continue to support our customers at a time when they really need it,” he added.
The latest data from the Pietermaritzburg Economic Justice and Dignity Group (PEJDG) has shown that families in South Africa living on low incomes may be spending 30% more on food than they did two months ago.
The organization said that the average household food basket has increased by 7.8% (R250) between March and May.
