Billionaire Whitey Basson reveals pricing secret and why Shoprite used red and yellow

• Billionaire Whitey Basson revealed that Shoprite's use of red and yellow branding is based on the perception that red is the strongest colour in retail and yellow signifies cheap and good value.
• Whitey Basson, former CEO of Shoprite, attributed the company's success to a well-planned strategy, including the use of specific colours and branding, which appealed to the target market's perception of affordability.
• Basson's comments on pricing perception may have implications for the retail industry, as it suggests that prices are not always a determining factor in consumer choice, and that visual cues and branding play a significant role in shaping consumer perception.