By Nqobile Dludla
South Africa’s Pick n will broaden a rewards programme partnership with First National Bank (FNB) as part of an effort to tap the bank’s customer base and win back shoppers, the grocery retailer said.
Pick n Pay has ceded market share to larger rivals including Shoprite over the past decade but is aiming to end years of poor performance following the appointment of chief executive Sean Summers in late 2023.
In the face of declining sales, the company rolled out several initiatives from mid-2022, including store revamps, the closure of unprofitable locations and new customer loyalty strategies.
“All of the things that we are doing … it’s what’s getting customers back into our stores, and we can already see it’s starting to turn,” Summers said at an event announcing the expanded partnership late on Monday.
Pick n Pay initially launched a version of the loyalty programme with
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