By NEIL HARTNELL
Tribune Business Editor
nhartnell@tribunemedia.net
Super Value’s principal yesterday revealed that COVID-19 panic buying had produced “crazy figures” with sales at some stores having increased by as much as 147 percent.
Rupert Roberts, the supermarket chain’s president, told Tribune Business that while the frenzied consumer stocking up appeared to have “slowed down slightly” it was likely only a matter of time before a fresh wave was triggered.
Disclosing that Bahamians were flocking to food stores whenever there were fresh development, such as the rise in the number of local coronavirus cases from one to three, Mr Roberts said: “They were busy shopping all last week, and Sunday morning there was a 60 percent increase. That was a 50 percent increase from that week.
“The Blue Hill store is up over last year by 141 percent. The Cable Beach Quality store also saw a 141 percent increase in the last few days. Golden Gates was up 130 percent. and Top-of-the-Hill Mackey Street by 147 percent. It’s crazy figures. This last Wednesday over the previous Wednesday, we had some stores 101 percent, 107 percent up compared to those figures.
“We were tracking the sales against last year, and then we were tracking them against day-by-day last week and this week. There are still running in the 100 percent range for day-to-day, doubling up.”
Mr Roberts said customers were purchasing product as rapidly as Super Value restocked its shelves, which he said was both impacting its supply chain and undermining customer service.
“They’re panicking,” he said of consumers, “and it’s disruptive to the organisation. We cannot give them the customer service they deserve. I made a plea earlier this week, because we have adequate supplies of food and have more coming in.
“This panic buying is totally unnecessary. Panic buying interrupts the situation. I would say it’s slowed down slightly but it seems to come in waves. When the case count here went up from one to three, it started again. News seems to trigger it.”
Mr Roberts said Super Value had not implemented rationing or set limits on how much of one product consumers can purchase. This was in contrast to one of his rivals, Solomon’s Yamacraw, which revealed in a notice posted at its front entrance that it has “limited the purchase quantity per transaction of select high demand items” to two per person.
The products involved included bathroom tissue, paper towels, kleenex, dish and hand soap, hand sanitiser, disinfectant wipes, bleach, baby wipes, water, infant formula, bread, milk and eggs. Mr Roberts conceded that Super Value should have done similar “in the early days” with hand santisers and Lysol spray, but admitted that he “never thought it would go to this”.
He added: “We are importing so fast that we asked Customs if we could give them certified cheques. We are importing faster than they do the entries or check them, that’s what it’s going to come to. We’ve asked Customs to work with us.
“We have five weeks of inventory in stock, and have ordered another 12 weeks on top of that to take it to 17 weeks. That’s three months coming in one month. We have a 105,000 square foot warehouse, and it’s going out faster than it’s coming in.
“We can hold three times’ the inventory it has. We’re turning inventory so fast. We’re turning inventory faster than we can get it. We did run out of milk last week, and were running out this weekend, and had to order extra milk to come in on the weekend.”
Mr Roberts said Super Value had already received 28 40-foot containers of perishable items for the week, and another 10 were expected today. “I hope the country does well and it does not go further than this, although that’s unlikely,” he added of the COVID-19 pandemic. “Hopefully it soon dries up so we can get the economy back. I think things will bounce right back once we get the medical side sorted.”
Comments
joeblow 4 years, 1 month ago
... so in other words you want us to know that you are raking in the money!!
sheeprunner12 4 years, 1 month ago
Rich gets richer ………….. even in a pandemic
buddah17 4 years, 1 month ago
If you believe that to be a fact with Mr. Roberts being "rich and greedy," simple, do NOT support any of his companies...
truetruebahamian 4 years, 1 month ago
You idiots are just what you are - selfish lazy uncomprehending idiots. Enjoy going around in circles in your dormant closed minds.
Well_mudda_take_sic 4 years, 1 month ago
Rupert Roberts has always been ruthlessly greedy. He has a key silent business partner (a well known Bahamian) who for years has enabled him to get away with price gouging on products sold through his Super Value and Quality Market stores in the Bahamas, almost to the point where store theft is of little concern to him now. He even gets away with outrageous price gouging on non-perishable items.
His South Florida based product buying and warehousing operation buys and sells at a handsome markup to his Bahamas based warehousing operation which distributes to his Super Value and Quality Market stores. This cross-border organizational structure allows him to make and keep in the U.S. a sizeable portion of his group's consolidated profits with the consequence being much higher gouging prices for Bahamians shopping at his retail stores in the Bahamas.
Most Bahamians don't know that Rupert Roberts is also a major shareholder in Commonwealth Bank which probably explains why that bank, more so than most others, pays no interest to Bahamians on their deposit balances but charges them unusually high rates of interest whenever they get a consumer loan or mortgage loan. Yep, Rupert has always been ruthlessly greedy.
bogart 4 years, 1 month ago
The nation operates with little or no laws dealing with businesses, competition, etc. This is not Mr. Roberts fault. Blame is with the Govt with politicians... both political parties ALWAYS BEEN SITTING IN THE SAME LEGISLATION ROOM ACROSS FROM EACH OTHER SINCE INDEPENDENCE......each term swearing in hand on Bible and oaths to be doing duties in best interests of people. Yes there are sole execlusive merchants who have sole rights to be the importers of products. Yes they have the rights to be the price fixers and markups range to retailers, ......and yes they they do complain if any other Bahamian business competion stuck favourable deals with other merchanders in Florida or elsewhere to bring in similar products with cheaper rates to compete....and watch the main importer Nassau not complain that the goods on pallets offloading on Family Islands by competition business.
buddah17 4 years, 1 month ago
So who are the food stores that are (on an average,) much cheaper than Super Value and doesn't have "thieft losses" built into their prices?
buddah17 4 years, 1 month ago
So why are people doing any banking business with Commonwealth Bank? They LOVE to be punished? "Look Ma, NO interest on my deposit balances, and HIGH interest rates on any loans!!"
truetruebahamian 4 years, 1 month ago
Mudda - you're right - you are sick! Give people credit for providing service - what do you do beside bitch uselelessly and complain without alternate resolution and getting off your backside to be a contributing member of society Talrussel nd birdiestrachan are all in your same boring boat with the same lack of direction!
Well_mudda_take_sic 4 years, 1 month ago
You either don't shop at any of his food stores or you're comfortably seated on his gravy train. Anyone who has been regularly shopping at Super Value or Quality Markets knows first hand about the outrageous price gouging which Rupert Roberts would happily have you believe is exclusively attributable to customs duty and VAT.
ohdrap4 4 years, 1 month ago
Thing is, go to solomons and the prices are basically the same. Except the fruit at supervalue is rotten.
The exclusive distributors also set their own price in many items.
bogart 4 years, 1 month ago
In such a nation with the only Constitution Preamble with nation people being guided by Christian pninciples...in situation of this to all....quite shocking the mean spirited unChristian ways...brings out the worst in most christian like people. Sad.
mandela 4 years, 1 month ago
Mr. Roberts has earned his wealth and is not to blame he's not the source or cause of this virus, everyone, the world over should be angry at China, China and the eating habits of Chinese were the cause of the SARS virus and now the cause of another deadly virus only this time this virus is much deadlier than the last one (SARS) and when this virus is gone China will be the source of a virus deadlier than this one, Check on youtube = wet markets in China and see for yourself
TalRussell 4 years, 1 month ago
Keep reading the Tribune for any business news updates, should Comrade Grocer Rupert, by happenstance, applies for a government's business assistance, considerations, grants or tax relief let up? Maybe. a track choice crown lands for his grocery empire's expansion? Nod once for yeah, Twice for no?
buddah17 4 years, 1 month ago
Tipical of some Bahamians, always putting fellow Bahamians down. Rupert Roberts is a Bahamian businessman who HAS been successful due to many things, his no-nonsense approach, his business acumen, and his leadership. All he is sharing (IMHO) is the fact that things have gotten CRAZY, that people should NOT "panic buy" (which will cause him to LOSE money if they follow his advice,) and HOW he is coping with the continuing shortages of perishables that is being experienced, (such as ordering extra containers, trying to get "heads up" with customs to be able to clear the containers QUICKLY when they arrive,) etc.. . Now all of this HELPS the Bahamian people, but right away there are Bahamians claming that the man is greedy, is NOT caring about the Bahamian public, etc.. etc... Tell you what... Let Super Value CLOSE DOWN.... Then tell me how "great and wonderful" all of the remaing places selling groceries are.....
Well_mudda_take_sic 4 years, 1 month ago
You must have read another article. The article above has him bragging that his food store business has never been better.
TalRussell 4 years, 1 month ago
Colony's stores sells just shy BILLION dollars Toilet-papers every 12 months - and that was before the surge hoarding 10 packs 48 rolls Toilet-papers. There you go. Sounds motivating someone want setup Toilet-paper Manufacturing - and it's is on low side initial investment and space requirement? Nod once for yeah, Twice no - be cleaning-up by getting into into ass wipe manufacturing?
tom1912 4 years, 1 month ago
His prices when I last shopped in to one of his outlets were somewhat cheaper than 2nd Mortgage Solamans!
Anyway toilet rolls can be replaced or their use much reduced with perianal sprays or bidets, and saves a few forests too, bearing mind I've experienced brackish mains water in a property at to Montague Bay end of Shirley St. they say salty water is good for hygiene!
Fitting an add-on bidet spray units under the WC seat is easy and reasonable priced [A DIY job too] should also help the local plumbers in work as long as they keep social distancing, wash their hands and you clean everywhere he/she has touched. 8-) ;-) ;-) ;-) ;-)
http://thetribune.media.clients.ellin...">;-) ;-) by tom1912
Well_mudda_take_sic 4 years, 1 month ago
Why hasn't Minnis limited buying at all food stores during the first hour and a half of each business day to persons age 60+ who are the most vulnerable to the life-threatening Red China Virus? And what has Minnis done to ensure the food stores are being properly cleaned each night after closing, to ensure they are as sterile as possible when they open for business the next morning? Are the check-out areas, door and cart handles, etc. all being cleaned on a regular basis throughout the day?
Have steps been taken to prevent panic bulk buying and to accommodate the elderly who are unable to stand in line for long periods of time to gain entry to food stores? Minnis must order that such measures be taken and rigorously enforced because the very greedy Rupert Roberts is not going to be inclined to do anything unless he is literally forced to do so.
bogart 4 years, 1 month ago
....seems after panic buying week long or longer seems to have calmed down by now. Usually the more affluent usually on the sipsip knowledge send the housetruck #2 to the stores, to buy up supplies.and next along line.... Govt authorities after repeated.and repeated..and repeated hurricane travelling warnings.....there should have a better controlled stampede....Govt immediate controls Warnings would bave better allocation of budget manage by people instead stock pile of toilet paper..happens many countries.....and adequate tissue on island. On seeing elderly persons on line.....must also bear in mind that slick Bahamians use elderly to be on lines catering to elderly lines for their uses....Good suggest nevertheless, but I have seen aware cashiers and persons on line to ask others to help pregnant, those on crutches etc ahead. ......And yes there are some downright wicked and unchristian behaviour well dressed women and men..starting from the parking lot...Mudda if you want to see behaviour then do as someone I heard does to avoid being targeted for robbery and dress down with old clothes and go out in public.....
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