Making your Marks in hard times |
| Editor’s Blog | |
| Friday, 07 November 2008 | |
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So Marks & Spencer (M&S) has announced a 34% drop in sales for the first half of the year. Even its usually reliable food sector is beginning to falter. Does this mean all the predictions are true and the discounters are profiting in the current climate? Who can tell at the moment, but what M&S must not do is be stubborn and risk losing out on new ways to boost revenue. In August, for the first time in 124 years, the company started selling branded goods in a select number of stores. This is a development that could be taken further. Consumers are not going to settle for only one option now that money is tighter. Variety (budget choices) counts more than ever now. The picture is still grainy at present. Maybe the retailer's next set of results will give a clearer view of how exactly it has come to terms with the force of a true recession - and if its efforts have worked. Related Articles
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