The Spar group says that its newly launched on-demand delivery shopping platform SPAR2U is close to reaching critical mass, with plans to expand its operations in South Africa.
Reporting its annual results for the year ended September 2022, the group presented a sound set of results, given the economic headwinds facing businesses and consumers – not only in South Africa, but in all markets it operates, including Ireland, Switzerland and Poland.
According to Spar, the group’s profitability continued to be impacted by the consequences of the pandemic in the first half of this financial year and new geopolitical circumstances, which have seen all regions experiencing fuel and energy cost pressures. This increase was assisted by an improved core grocery business performance which generated an increase in sales of 5.3%. Spar increased its promotional calendar to continue to attract cash-strapped consumers.
Notably, Spar made excellent progress with its newly developed on-demand shopping platform SPAR2U, which has gone live at 87 stores during the second half of the financial year.Spar launched SPAR2U in the first half of the reporting period. The platform is a consumer-facing, on-demand shopping platform for groceries and liquor.
It said that the platform is uniquely tailor-made for the group’s interdependent retail model and “takes all of the onerous effort out of our retailers’ hands, allowing them to focus on trading”.
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