Nedbank expects Shoprite to tighten grip on township economy

Financial services group Nedbank says Shoprite’s early inroads and heavy investment in the township economy, said to be worth more than R700bn, has put the retail giant in good stead to keep growing its market share — with its competitors a distant second.

In an investment research note, the bank said Shoprite was one of the retailers that saw an opportunity residing in the township economy early and put in place a clearly defined segmentation strategy across three supermarket brands — Checkers, Shoprite and Usave — catering to three distinct consumer segments…

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