NewswireToday - /newswire/ -
Cape Town, Western Province, South Africa, 2007/07/19 - Mr Price has joined the South African Retailers Benchmarking Service, created and managed by PIC Solutions.
The benchmarking service originates from PIC Solutions long-standing relationship with the majority of the clothing retailers in South Africa. The service has been designed to evolve and change as additional measurements and reports are included. Mr Price Group is the fifth major South African retailer to take advantage of this informative benchmarking service to drive their future strategic initiatives.
Operating over 800 stores across Southern Africa, speciality retailer Mr Price Group consists of five retail chains focusing on clothing, home, sports, footwear and accessories. Through the use of the benchmarking service Mr Price Group will keep ahead of industry trends and changing market conditions. The service provides a quarterly report which tracks trends across multiple portfolio measures by which Mr Price will benchmark their products against best practices and their retailer peer group.
TRIAD, from Fair Isaac Corporation, is the premier adaptive control system for lenders, combining software, actionable analytics and optimisation techniques to effectively manage 44 billion account and customer management decisions globally each year. The South African Retailers Benchmarking Service was initially launched for TRIAD clients and the demand for this service grew to include other organisations. Now used by the five major South African clothing retailers, this service is considered to be the industry benchmark for private label retail cards and reports on 90+% of the cards in the industry.
Mr Alastair McArthur, CEO of the Mr Price Group, comments, “The South African Benchmarking Service provides us with an in-depth analysis of our competitors, industry trends and market dynamics and this type of information is not available anywhere else. We look forward to using this report to benchmark our strategies and implement best practices throughout our organisation.”
Stephen Leonard, Managing Director of PIC Solutions, adds, “This benchmarking service is an extension of the solutions we offer to meet the ever-evolving challenges facing our clients. We have developed a close working relationship with the retail industry and their participation in this service has ensured comparative market trends and best practice measurements. Mr Price Group can effectively utilise this benchmarking service to optimise new opportunities in the retail market.”
About PIC Solutions
PIC Solutions (PICSolutions.com) provides consumer credit solutions to a wide range of blue-chip organisations. We are experts in the fields of credit, risk and software and have an established track record of success powered by solutions.
Our ongoing commitment is to enable clients to optimise the credit life cycle.