Marks and Spencer record a drop in sales in their ninth quarter – is this a trend?
We are hearing more and more about how some of the big chains are struggling – the sell through of new ranges receiving initial attention on first release – the best pieces selling out and the rest are not getting picked up until the season is almost over. Because money is tight are we investing in key pieces that will last, then looking to top up from cheaper sources? Or are they losing their edge? Why do you shop in Marks and Spencer?
Are you a High Street clothes shopper that goes from one to the next assessing style, fit and price? Or do you go to Marks for food and think I’ve got some time to kill let’s have a look at their clothing?
Either way, something is not working. As fans of the top end boutiques (like Jane Davidson) and carriers of known labels (like House of Fraser) we know they are succeeding. Have the middle aged workers of the world gone online and can’t find enough reason to visit the High Street unless to seek out investment pieces or cheaper throw it in with the food shopping?
What would I do if I were Marks?
1. Seasonal investment pieces, beautifully made and reasonably priced (because it’s Marks)
2. The basics – you know, the work wardrobe, the replacement of old favourites
3. The seasonal funky pieces that are unique to Marks – the bit that’s struggling at the moment – it’s just not different enough; the fabric and cut is almost the same whether Debenhams, BHS… the list goes on.
The crux of it… if I were Belinda Earl I’d think about introducing named designer ranges that could be taken to the catwalks of the world. Forget this Per Una, Autograph… what do they mean anyway!? I’d hang my hat on two possibly three designers and provide complete collections unique to Marks. Cover the bases, with price ranges and customer profile – stop trying to be everything to everybody but set your stall out. I’d also ensure there were unique pieces that could only be bought instore – not online but still well publicised – the sort of pieces that we like to lust after – give us an experience that we’ll want to cherish, share and tell our friends.
And of course when I say take the collections to the catwalks of the world – what I mean is create those catwalk shows instore during fashion weeks – create VIP areas for loyal card holders – create a buzz. Don’t expect us to like it and buy just because it’s Marks.
Don’t you think?