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OK Zimbabwe Clarifies Pricing Disparities

11 months agoTue, 26 Mar 2024 08:37:43 GMT

OK Zimbabwe Clarifies Pricing Disparities

OK Zimbabwe, one of the country’s major retail chains, ensures that its exchange rates are regularly updated to reflect the prevailing rates at the time of customer transactions.

In response to a customer’s inquiry regarding pricing discrepancies, OK Zimbabwe clarified that the rate displayed in the shop may not always align with the rate used at the checkout counter, as exchange rates fluctuate throughout the day. Queried the customer:

I am a loyal OK customer, where everyone is a winner. I have a question. Would you care to explain your pricing disparities. In every branch of yours there is a chart displaying the USD/ZWL exchange rate.

Your prices are marked in USD. Paunosvika patill uchihibhadhara with ZWL you would naturally expect to pay using the displayed rate, asi hazvisirizvo zvinoitika, hameno language inotanga kutaurwa and you pay using a different rate, I was made to understand that the rate differs from product to product. Ndizvo here?
Is it possible to be transparent about the cross rate formula? Hamukwanise kuita zvinoitwa kuPick n Pay, displaying both USD and ZWL price?
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OK Zimbabwe’s response shows that the retail chain changes prices constantly in line with the movement of the exchange rate. It said:

Our rates are updated based on the prevailing rates at the time of your transaction. However, the exchange rate might change in our system before we can update our displays.

Another customer said he has stopped shopping at OK because one doesn’t know the price of a product until one gets to the till.

The depreciation of the Zimbabwe dollar can lead to exchange losses for retailers when converting foreign currency purchases back to the local currency. This affects the overall profitability of retailers.

Retailers are, therefore, forced to adjust prices frequently to keep up with rising costs.

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35 Comments

Anonymous · 11 months ago

I also experienced that at ok Victoria falls..these people matsotsi..I no longer buy at OK. If they continue doing that they will lose customers to other retailers.

Anonymous · 11 months ago

I experienced the same fat at OK Marondera and Bon Marche at Bond shops. You see prices marked in usd but if you go to the till you find another price. Also merchandisers in OK shops vanoita chitsotsi akaona brand rake isiri kutengwa anoisa product yake pane competing product Kan iine price iripasi so trick yacho ndeekuti nedzimwe nguva vanoziva kuti kana wave kutill hauzo check maprice.

Anonymous · 11 months ago

Something has to be done, also its now a culture to be told that we do not have change in RTGS kindly take sweets or plastic bags. Why not adopt a coupon system as change transferable to all your branches in USD denominations.

Anonymous · 11 months ago

Ok is fighting for survival in a highly regulated retail space

Anonymous · 11 months ago

What the manager told is ****! They are supppsed to use bank rate of the day plus 10% positive variance. So, for him to to tell you that the rate changes every time during the day is hogwash!!

Anonymous · 11 months ago

Ok is not the problem, but the currency. The environment is not normal. Therefore you can't expect a normal service wherever you go. Ok included. Kubasa kwenyu zvakarongeka here iyo nyika yakadai?

Anonymous · 11 months ago

That's nensensical the truth is that OK Zim displays discounted prices for those paying in US$ those paying in Zim dollar have their prices inflated at the Till and an official exchange rate is applied. For example something priced at $10 if you pay in US$ you pay the displayed price of $10. If you pay in Zim $ the system is programmed that the US$ is inflated to $14 and an official exchange rate is then applied

Anonymous · 11 months ago

Ini I left everything pa till OK Mart ndaudzwa zvekuti prices displayed are discounted prices for those paying in USD. My thinking is they should display the correct price meaning the price they want in USD and give the discount when one now produces the form of payment they want. Kwete kuda kutitangidzisa ma calculations at the till.

Anonymous · 11 months ago

Nyika Nyika yakaoma kuomeswa nevanhu vakaitawo sesu ,you came with nothing hence you should go back with nothing, Mwari tinzweiwo

Anonymous · 11 months ago

OK are not the only retailers who have different prices at the till to what is advertised. I purchased 5 items only to discover being charged more at the till for 3 of the items. Reason given was that the department supervisor can not manage to change the displayed price on a daily basis 🙄

Anonymous · 11 months ago

I was also shocked the other day when I got soft drink that was marked $0.65 and when I bought that drink using rtgs I was advised by the Manager at the Kwame Branch that those prices marked in dollars are discounted prices possibly because they want to encourage people to buy using usd not the local currency . For that 65 American cents guess what I paid Rtgs17000 and that was on the 5th of February when the official rate was not that high so the manager who claims that the rate is changing every minute is not saying the truth Ok does not appreciate people who use the local currency in their shops !

Anonymous · 11 months ago

If a query is raised by anyone it's best that the responsible authority investigate 🔎 to acertain the realities on the ground. *_If one is purchasing using a swipe card, it seems they have factored in a certain percentage increase deviating from the displayed rate multiplied by the displayed USD price.* I believe exchange rates are effected for the day, and so is the displayed in-store rate. responsible authorities should take note & kindly investigate the gimmick if found wanting may you heavily penalize.

Nicholas Bangajena · 11 months ago

I am worried by slowness on the till. Especially Five Avenue. Visibly staff look very unhappy.. if you're in hurry it's not the place tone. Even when there are few customers, you're assured a long stay in there. You're no longer the OK I used to know. Besides price disparities, your staff must life in them!

Anonymous · 11 months ago

Even the USD prices differ between the one on the shelf and the one at the till. That is, even the way the US$ prices change on a day to day basis is spectacular.

Anonymous · 11 months ago

I understand about fluctuating rtgs. My experience was being told at the till a mug marked $3 is $4 in the system, and the discrepancy blamed on the exchange rate. I don't understand what's going on. Fleecing customers in open daylight.

azee · 11 months ago

point of correction, they do not fluctuate, they rise all day

Anonymous · 11 months ago

PITY they don't treat their suppliers in a similar manner fair manner with regular rate changes and on time payments

Chibaba · 11 months ago

Mthuli Ncube is the problem and his master ED pfeeeeeeeeeeeee nenhamo

Dun Dadda mi brada · 11 months ago

wotohwa mumwe munhu achitofarira hutongi hwekuti mari yemunyikamo inopera simba every minute kuti na 12:50 $1/30 000 na 12:51 $1/31 000. Shuwa ndokutonga kwacho.

Anonymous · 11 months ago

Had it not been zanupf we were the bread basket now we are getting expired staff. On Sanctions they are 11 most corrupt in Zimbabwe it's better to get rid of them than to cry for them. In whole SADC and we have 11 most corrupt. When are we going to open our eyes. mnagwagwa when you leave office, leave with your relatives that's where Chiwenga is waiting for

Anonymous · 11 months ago

Had it not been zanupf which destroyed bread basket we wouldn't be buying expired staff. On Sanctions they were imposed on the worst corrupt people in Zimbabwe rather southern Africa. It's better we get rid of 11 and move on than to cry for 11.

Zim-Sketch · 11 months ago

the problem is Mutuwi Ncube ànd his associates......here Z$ is here to stay... for what purpose when more than 90% of transactions are now in forex.