1 Summary of Mr Price Group

Mr Price Group, South Africa, was established in 1987, however its roots date back to 1885 since the days of John Orrs. The main business is to sell clothing, footwear, sportswear, sporting goods, accessories and homeware. The group is recognised as a “Fashion Value Retailer” and consists of the following stores:
 Mr Price
 Mr Price Sport
 Mr Price Home
 Miladys
 Sheet Street

The Group is recognised as one of the fastest growing retailers in South Africa. Their turnover is in excess of R10bn across their 937 stores within Southern Africa. They also have another 24 franchised stores within Africa.
Their main focus is categorized into three main segments namely:
 Apparel segment, retails footwear, sportswear, …show more content…
2.1 Demographic
This covers understanding of the business target market and the influence it has on the success on the business.
One of these factors would be:
 Mr Price’s target market is multiracial.
2.1.1 Solution
Although they cover a wide spectrum, race, age, gender…they should consider covering the formal sector. Mr Price currently do not cater for the sector of the market looking for formal men’s suits in particular. If they did they will capture a segment of the market that they are currently not earning an income from.
2.2 Economic
Economical factors affect the business and need to be analyzed in order to assess the implications on the business.
Some of the factors include:
 Listing on the JSE
 Share price drops (also has an effect on credit)
 Import price hikes
2.2.1 Solution
In order for the company to increase its share price, they should maintain being listed company. This would limit the effect it would have on fluctuating share prices; they should also consider finding alternative local suppliers for the range of goods they currently …show more content…
This would increase their sales and profits.
2.4 Technological
Technological factors refer to the equipment the business uses to buy, advertise or sell the product or services.
One of these factors would be:
 Not all customers have access to the internet
2.4.1 Solution
Here Mr Price could leverage its internal IT infrastructure; by “taking the internet to its customers” They can achieve this by having mobile units created and taken to the geographic areas lacking formal internet services and to areas where its customers find such services unaffordable.
2.5 Legal
The legal environment refers to all laws that has an impact on the business.
One of the impacts would be:
 Laws and sanctions on importing goods
2.5.1 Solution
Although Mr Price has an aggressive drive towards locally produced goods, as a result positively impacting the community, they could further benefit by finding alternative local sources to manufacture the category pf goods they currently import.
3 Prediction for the