South African retailer Shoprite said it had gained market share in its domestic market after seeing its sales increase by almost 11% in the first quarter of its financial year.
Shoprite CEO Whitey Basson said market share data for South Africa’s retail sector was no longer available but claimed information it had showed it “continued to gain market share relative to its main competitors”.
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Basson added: “Our confidence is supported by the increase in basket size ahead of internal inflation and the positive growth in customer numbers.”
Sales from Shoprite’s South African supermarkets division was up 10.8%. The retailer said its “internal food inflation” was 4% but “substantially below” the country’s official food inflation figure of 7.7% for the three months to the end of September.
Shoprite said its total turnover was also up 10.8%. Excluding its internal inflation of 3.8%, its sales rose 7% in real terms, it said.
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