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Masscash consists of Wholesale with Cash & Carry Food, cosmetics and Buying Association businesses, and Retail, which comprises Food outlets targeting lower LSM groups. Our Wholesale business includes the brands CBW, Jumbo Cash & Carry, Sunshine, Trident, Eureka, Saverite and Shield (a voluntary buying association), while the Retail business consists of the Cambridge Food and the Rhino Cash & Carry brands.
2018 strategy
Drive and improve the Wholesale customer value proposition through improved in-stock service levels, KVI pricing and further investment in sales capability
Implement a standard set of administrative processes supporting one common retail system nationally
Streamline and rationalise brand and store portfolio across the Wholesale and Retail businesses
Improve trading densities in new Retail stores, whilst increasing profitability of mature stores
Ensure our Fresh departments remain a strategic differentiator in Retail stores
Create awareness of VAS, now available in our stores
Optimise the merged management team and associated support structures
The progress we made
  • Invested in refurbishing selected Wholesale stores which has contributed to better in-store standards thus improving our customer experience
  • Maintained a positive price-perception in an increasingly competitive environment
  • Successfully rolled out SAP in all Retail stores in Free State, Cape and KwaZulu-Natal regions
  • Commenced rebranding Rhino stores to Cambridge Food with two stores completed in 2018
  • Opened a new Cambridge Food store in Carletonville
  • VAS (airtime, bill payments, money transfer, Lotto, etc.) rolled out in all Cambridge Food stores and two Rhino stores
  • Successful consolidation and relocation of several regional and head offices to Johannesburg
The challenges we faced
  • The challenging South African economy has resulted in poor consumer confidence that negatively impacted on sales performance
  • Severe price deflation in commodities like maize, wheat, oil, sugar and rice for the majority of the year
  • Our management and corporate restructure and systems integration posed significant challenges and caused uncertainty for our people
  • Implementation of sugar tax impacted the soft-drinks market
  • The April 2018 VAT increase
  • The listeriosis outbreak caused a severe decline in processed meat sales
Our strategic focus for 2019
  • Grow the current Cambridge Food Retail store format by opening eight South African stores in 2019
  • Define and develop a hybrid store format for Africa supported by site acquisitions
  • Continue our focus on the Wholesale stores by driving profitable sales, maintaining in-stock service levels and restoring credibility with customers and suppliers
  • Continue with the conversion of Rhino stores to Cambridge Food stores
  • Roll out VAS (airtime, bill payments, money transfers, Lotto, etc.) into Wholesale stores and then VAS phase II (tickets, insurance, etc.) into both Retail and Wholesale stores
  • Expand our Private Label penetration to improve competitiveness
  • Ensure our Fresh departments remain a strategic differentiator in our Retail stores
Future outlook
Masscash will grow through expanding our Cambridge Food Retail store format by opening eight new stores and converting the remaining Rhino stores to Cambridge Food stores. We will define and develop a hybrid format for Africa supported by aggressive site establishment.

South African retail and wholesale consumer confidence remains low and so we anticipate a difficult sales environment in 2019, although we are confident that our improved execution capability will manifest in slightly stronger sales growth. The impact of no product deflation will also positively impact sales. Outside South Africa our stores perform well in local currencies but our Rand performance depends upon the currency exchange rate at different times throughout the year.