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Marks & Spencer’s Turnaround Strategy, Why it’s Working

Indigo 9 Digital

Marks & Spencer is in the midst of a multi-year transformation that former CEO Steve Rowe began in 2018 and it’s working. It also allows a retailer to have a much larger product range without having to make a large investment to buy and hold more stock. Marks & Spencer’s revenues last year were up 21.5% Improving Digital.

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The Top 15 Ways to Find New Customers in Retail

Indigo 9 Digital

While increasing competition from Amazon is often cited as the reason mid-priced retailers like Macy’s or Lord & Taylor have struggled the main reason has to do with economics. By 2018 it took 53 weeks. And when they do make a purchase they are choosing lower priced retailers over mid-tier retailers out of necessity.