CAPE TOWN – Retailer, Pick n Pay, released its financial results for the six months ending 26 August 2018.
The second-largest grocery store chain in South Africa said, that it now has 100 000 active customers using its Pick n Pay store account.
The credit facility was launched in September last year and allows Pick n Pay customers to purchase their groceries and pay at a later date with no joining fees and low interests rates, according to the company.
According to the company, Pick n Pay has given customers R1 billion total credit.
HOW DOES IT WORK
You can access your credit account using your Smart Shopper card. Pick n Pay said that the credit provider carries all the associated funding costs and credit risks.
“It offers the most affordable form of credit in the market, with a 55 days free credit payment option, no joining fee, no hidden administration fees and the lowest monthly fee in the market,” Pick n Pay said in April.
15 000 MORE JOBS
Gareth Ackerman, the chairperson of Pick n Pay, said in July that the company would try to create as much as 15 000 new jobs.
“In just about every public survey, the number one priority for South Africans is employment. It’s not difficult to see why: with job security comes dignity, the ability to chart your own future, provide for your family and play a meaningful role in the economy," Ackerman said.
He also said that in the past three years, the company had invested R5.3 billion in opening and refurbishing stores and building its supply chain.
By doing so Pick n Pay had been able to create almost 14 000 net new jobs.
Ackerman said that over the next three years, Pick n Pay would look to create another 15 000 new jobs.
“This will bring many young people into the world of work and the opportunities that retail provides to build a career and progress in the world.”
“But the company’s impact is far wider: we work with about 10 000 suppliers, and last year spent nearly R68 billion with them. This provides employment to more than 400 000 people,” Ackerman said.
“In total, we believe at least one million people are directly affected by Pick n Pay by way of employment."
BUSINESS REPORT ONLINE