STC reduces prices of 31 imported items   |11 May 2023

Deputy CEO Jean-Baptiste flanked by Mr Rose and Ms Lafortune during the press conference

Part of its ongoing plan to pass on benefits to consumers

By Patsy Canaya

The Seychelles Trading Company (STC) said the recent reduction of prices on 31 commodities are based on two reasons – firstly better negotiations with suppliers and secondly, a surplus of some perishable goods due to the seasonality aspect.

STC deputy chief executive, David Jean-Baptiste, was speaking to the local media yesterday at the company’s headquarters on Latanier Road to explain the recent reduction in prices of some perishable goods such as onions, potatoes, mandarin, cabbages and carrots, frozen items such as burgers, whole chicken, and other edible products like Kraft cheese and powdered milk.

Also present at the press conference were Dean Rose, head of sales & marketing and Stephanie Lafortune, PR & communications officer.

Mr Jean-Baptiste said this was in line with the company’s target to help bring down prices of commodities in the country.

“Our procurement team has been able to have better negotiations with our international suppliers and the team is working so hard to ensure we get the best deals, and when we get those reductions from them we are able to pass on the benefit to our customers,” explained Mr Jean-Baptiste.

He added that STC was also getting better deals on some perishable goods, which were in surplus based on the seasonality aspect.

STC said this is a continuation of a series of STC price reduction campaigns, which started in May last year, whereby a list of more than 69 assorted products were reduced.

In addition to its existing portfolio of MRP (Maximum Retail Price) category one products, STC is providing price reduction to other categories of products thereby broadening the discounts to a wider consumer base.

In the new list of commodities, some prices have reduced by R2, R10 or up to over R40.  Mr Jean-Baptiste said since STC Hypermarket targets all types of customers, it has also included pricey items such as lobster.

“Our sales and marketing team are doing their daily checks to see the kind of customers that come to the hypermarket and what types of customers we should be attracting so we should therefore be selling products that entice them. Lobster has its market so we have reduced it considerably so they also benefit or those who could not afford it can now do so,” he explained.

STC added that the new lower prices will not benefit only customers shopping at the hypermarket but those from other retail outlets across the country as they have also reduced the 31 prices at wholesale level.

“We are providing free distribution transport to all our retailers across Mahé, Praslin and La Digue, and we are giving them a decent margin on all the 31 commodities so that they in return can sell at it at the prices similar to that of STC. The only thing we ask of them is if they could as much as possible pass on the reduction to the customers,” he said.

STC said the revision of prices is continuous, and prices will be adjusted as and when needed.

Mr Jean-Baptiste added that STC was not making any losses on the 31 products.

“Although there is an impact on the profitability of the product, it does not have an impact on the company’s profitability in general, because we ensure that we do not make a loss on all imported products. So, as long we are not making losses, the company remains sustainable.”

Meanwhile the company has started an intensive media campaign to communicate the new prices to the public.

Patsy Canaya

Photos contributed