Shoprite gets it right: CEO’s vision helps to alleviate hunger and narrow economic inequality

Pieter Engelbrecht is a prominent South African business leader serving as the chief executive officer of Shoprite Holdings, Africa’s largest food retailer. Under his leadership, the company has focused on innovation, affordability and customer service.

Engelbrecht has driven the development of various initiatives, including the Checkers Xtra Savings rewards programme, the Sixty60 food delivery service and the repositioning of Checkers in the fresh and convenience space. He successfully navigated the challenges posed by the Covid-19 pandemic, ensuring job security for more than 160,000 employees and at the same time increasing sales and profitability.

For the 26 weeks ended 31 December 2023, under his leadership, the company achieved a remarkable 14.6% increase in sales from its core business segment, translating to an additional R12.4-billion in customer spend compared with the same period the previous year. Notably, this growth was achieved despite a high base of 17.5% sales growth in the previous year. The 14.6% sales increase surpasses the rest-of-market growth in South Africa, which stood at 7.6% for the same period, per NielsenIQ.

This impressive growth was driven by the company’s supermarket chains, with Checkers and Checkers Hyper increasing sales by 13.7%. Shoprite and Usave also saw sales rise by 13.1%. Notably, Shoprite’s sales grew by 13.2% after acquiring 51 stores from Massmart, and Usave’s sales increased by 12.3%.

Engelbrecht’s vision for Shoprite is centred on being the most affordable retailer and playing a significant role in alleviating hunger and narrowing economic inequality in South Africa.

He has spent a decade leading Shoprite’s project office, where he successfully established and grew new brands into multibillion-rand businesses. During this period, he launched several initiatives, including the Money Market financial service counter, Usave and LiquorShop, and led the acquisitions of Computicket and Transpharm Pharmaceutical Wholesalers. DM