Spar of South Africa Sees Discounting Driving Sales in Downturn
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Spar Group Ltd., a South African food and liquor retailer, is counting on regular discounts for sales growth as consumers face higher unemployment, increasing household debt and rising interest rates.
The proportion of sales from discounting to total sales has increased over the last five years, with promotions now accounting for more than 20 percent of revenue, Chief Executive Officer Graham O’Connor said in a phone interview