M&S chief Bolland backs new marketing approach to deliver growth
Marks & Spencer chief executive Marc Bolland is backing its new advertising style to help turn around its fashion proposition, as the retailer revealed another drop in clothing sales.
M&S: "perfectly" campaign
M&S this morning revealed a 0.6% growth in like-for-like sales over the 13 weeks to 30 March, fuelled by a 4% rise in its food sales. However, investors were left disappointed by a 3.8% drop in general merchandise sales.
Under-pressure Bolland cited "difficult trading conditions", in particular an intensification of promotional activity by rival retailers which forced M&S to respond with "selected tactical offers" of its own.
However, he claimed customers were "responding well" to M&S's recent "pefectly" campaign, which rolled out last month. The outdoor ads, by RKCR/Y&R, aim to demonstrate the "craftsmanship and innovation" of the retailer’s products.
Bolland also revealed M&S had seen a 70% growth in mobile sales over the past year, and "increased participation" in its Shop Your Way click and collect offer.
The retailer is currently pouring £150m into its new ecommerce site, set to launch in Spring 2014, and £100m into in-store technological innovations. M&S's new e-commerce distribution centre is set to begin operations this month.
In the investor statement, Bolland said M&S was "pleased" that its product ranges were unaffected by the horsemeat scandal, but admitted he was "cautious" in his outlook for the coming year, as "pressure" continues to grow on consumers’ disposable incomes.Follow @alex_brownsell
This article was first published on marketingmagazine.co.uk
Latest jobs Jobs web feed
- Head of Marketing Operations - Fixed Term Contract 12 months NEST Corporation Competitve, London
- Senior Account Manager / First Time Account Director Content is King £35k - £45k per annum dependent on experience, London (Central), London (Greater)
- Head of Acquisition & Retention NEST Corporation Competitive, London (Central), London (Greater)
- Group Account Director - Experiential Agency The Great & The Good £70,000 - £75,000 per annum, London
- Category Manager - Herbs, Spices & Ready Mixes McCormick Ltd £ Competitive + Benefits , Haddenham, Aylesbury
- Account Director The Great & The Good £45000 - £50000 per annum, West End