Boxer looks beyond price wars as FNB becomes part of retail strategy

Discount retailer Boxer, which was spun off from struggling parent Pick n Pay and listed on the JSE nearly two years ago, says partnerships are becoming an increasingly important part of its growth strategy as retailers look beyond price cuts to attract and retain customers in a highly competitive grocery market. The retailer’s partnership with FNB, which offers qualifying customers 99c bread vouchers, launched in July, forms part of a broader strategy to strengthen its value proposition while bringing additional services into its stores. Boxer CEOMarek Masojadatold Business Times that retailers are increasingly looking for ways to differentiate themselves beyond price alone.

“I think retail has really evolved over the years. Traditionally retailers and financial institutions have all stayed in their lanes, and over the last three or four years that’s really changed. The opportunity is how we take the best out of both industries and bring them together in an environment that makes customers’ lives simpler,” he said. The partnership comes as consumers continue to face financial pressure even with lower prices for some food staples.