Mr Price Cellular becomes a telecoms giant - exceeds R1bn in revenue

9 Jun 2022

The telecoms segment of Mr Price has exceeded R1bn in revenue for the first time, increasing 34.4% to R1.2bn, according to the clothing retailer's recently released financial results.

Shoppers walk past South Africa's Mr Price clothing store in Johannesburg, South Africa, on 31 May 2019. Reuters/Siphiwe Sibeko/File Photo

"Mr Price Cellular, launched in 2017, has reported exponential growth since inception and is now available in 374 stores with promising growth opportunities, most notably the rollout of standalone stores," Mr Price said in its financial results report.

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The retailer also stated that its cellular handsets and accessories gained 130bps of market share according to Growth for Knowledge (190bps including Powercell in Power Fashion), and said that this is a significant gain considering the disruption caused by global supply chain challenges and the civil unrest during the period.

Online sales growth

Mr Price has also enjoyed continued online sales growth of 48.2% against the high base growth of 64.1%. Its online traffic market share increased 70bps to 13.3%, the second-highest behind Takealot among omnichannel and pure-play retailers. The retailer also said its nearly six million social media followers grew by double-digits.

There has also been steady growth for the retailer's mobile app. "The Mr Price mobile app remains the highest-ranked South African fashion shopping app on the Google Play store, with customer usage up 27.3% according to Similar Web," Mr Price said.