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Spar sparring for the affluent
The Citizen
|December 19, 2024
NEW PREMIUM STORES: BUT IS IT TOO LATE?
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Retailer Spar has announced that it will open its first "premium" store targeting more affluent customers in around April next year. New CEO Angelo Swartz laid out this plan about a year prior. Spar has a total of three or four such stores planned for next year.
This move comes as rivals Woolworths and Checkers continue to steal market share as they both push for a greater share of the upmarket segment. This is presumably mostly being taken from Pick n Pay and Spar.
Spar made specific mention of "increased competitor activity" in its results for the 2024 financial year (to end September). Checkers Sixty60 has surely been one of the biggest impacts as it specifically targets the convenience occasion.
Quite how it manages to do this while retaining the rest of its footprint in the standard Spar supermarket format remains to be seen.
Best of both?
This story is from the December 19, 2024 edition of The Citizen.
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