Mr Price flags online betting as threat to retail spending
The South African retailer comments come amid continued growth in South Africa’s online gambling market.
South Africa.- South African retail group Mr Price has identified online gambling as an increasing competitor for consumer spending, despite reporting stronger financial results for the year ended March 2026.
The retailer posted revenue of R42.7bn (US$2.58bn), up 4.2 per cent year-on-year, while operating profit exceeded R6bn (US$363m) for the first time after rising 4.3 per cent. Retail sales also increased 4.3 per cent to R41.1bn (US$2.49bn).
Chief executive Mark Blair said discretionary retail spending has yet to benefit significantly from improving economic conditions, including lower inflation, interest rate cuts and a gradual recovery in household disposable income. Blair said consumers are facing growing competition for their spending, with online betting emerging as one of the factors diverting money away from purchases such as clothing, footwear and homeware.
Mr Price is not the first major consumer-facing business to highlight the issue. Restaurant operator Famous Brands previously warned that rising participation in online gambling was affecting disposable income and altering consumer spending patterns.
