“We Seem To Be Growing Poorer”: Old Pick ’n Pay Ad With R7.99 Pepsi Stuns South Africans
- A decades old Pick 'n Pay Christmas advertisement showing grocery prices under R100 resurfaced on LinkedIn and caught many South Africans off guard
- ASI Group CEO Anthony Govender shared the old ad to highlight how inflation has quietly eroded the value of money over the decades
- The post sparked a wider conversation about financial literacy and whether South Africans are growing poorer in real terms
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A 2003 Pick 'n Pay Christmas advert made South Africans do a double take. Anthony Govender, Founder and CEO of ASI Group, shared the old advertisement on LinkedIn on 4 September, and it quickly got people talking.
Source: Getty Images
The advert, which promoted "Dazzling Discounts from our Christmas Elves," showed prices that feel almost fictional by today's standards.. For most South Africans scrolling past the post, those numbers landed like a gut punch.
A full Christmas grocery run was possible for less than R100. Mayonnaise cost R10, In a 2003 Pick 'n Pay advertisement, mayonnaise was priced at R10.00 and white sugar at R10.69. By 2026, those same household staples at Pick 'n Pay have risen to around R41.99 – R49.99 for mayonnaise and R59.99 – R69.99 for a 2.5kg bag of white sugar.
Govender used the advert not just to trigger nostalgia but to make a point about financial discipline. He noted that the same small amounts people spend on everyday luxuries, when invested consistently over time, can grow into something significant. The business strategist wrote that investing R100 a month over 30 years at an average return of 10% could grow to more than R200,000. Bump that up to R1,000 a month and the result could exceed R2 million. His argument was straightforward: building wealth is not about earning a large salary but about making small, consistent decisions over time.
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He also pointed to financial literacy as one of the most valuable things a parent can pass on to their children, even more important than an inheritance. See the original LinkedIn post that sparked the conversation.
Source: Facebook
South Africans discuss old grocery prices
The post drew sharp responses from professionals in the financial sector:
@Sudesh Panday said:
"Thanks for the share, Anthony! Pepsi increased by about 11% p.a. 'Luxury' item? White sugar increased just south of 8% p.a. 'Necessity'? Yet, average CPI over the period was about 5.34% p.a. Consumers who work in financial services, for example, likely experience far higher costs of living. Fuel's increased by about 9% p.a. and financial services salary increases about 6.5% p.a. Sadly, as a society, we seem to be growing poorer."
@Heike Scholtz wrote:
"This is so well said Anthony Govender: The greatest legacy we can leave our children is not an inheritance, it is financial literacy."
@Otto Zungu (MBA, PGdip, Bsc, MMC, Fin Tax Consultant) added:
"The lesson in this particular insert. 'Inflation is the biggest enemy of wealth while as deadly as a hit man.'"
Other Briefly News stories of old prices
- A 2019 Checkers promotional flyer posted on Reddit went viral as consumers were shocked by prices from just a few years ago.
- South Africans on social media looked back fondly at the country's economy from a decade ago, expressing nostalgia over much lower grocery costs.
- A resurfaced TV commercial showing a 400g Spur ribs meal special for just R39.95 sparked intense nostalgia on TikTok.
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Source: Briefly News
