Businesses must ‘cater to changing dynamics’ due to growing multiculturalism – PG Group CEO

With the share of expats in the Maltese population exploding over the last years, retailers have been presented with an opportunity to increase their sales by catering to their specific needs, according to PG Group CEO Charles Borg.

Speaking during the latest episode of the Malta Stock Exchange’s Executive Spotlight, Mr Borg says that the Group’s Pavi and Pama supermarkets seek to meet everyone’s needs, not just those of the indigenous population.

“This is important for us because it brings to our stores people who did not usually shop with us before.”

The various communities of expats who now call Malta home have changed the local dynamics: “It is critically important that we understand this new reality. We need to understand their needs and cater to them.”

The increasingly multicultural make-up of Maltese society is reflected in PG Group’s own 400-strong workforce, which includes people from over 30 different nationalities.

The Qormi and Mosta shopping complexes attract footfall of 250,000 a month – almost half the population in any given month, Mr Borg points out.

“We are about creating value,” he says. “We are not just about selling products. Anybody can sell a product. But we pride ourselves on creating value to our customers, shareholders, employees, and the community in general.”

He explains that PG Group differentiates itself from its competitors by offering a “complete shopping experience”, with its malls including different retail and food outlets, apart from supermarkets.

Mr Borg added that the Group’s decision to go public was “very important” for its continued growth. He pointed out that turnover has increased by over 50 per cent in the five years since its Initial Public Offering, while profitability went up by over 60 per cent.

In that time, the company has distributed a combined total of €38 million in dividends to shareholders.