M&S Increased Online Share of Women’s Fashion Market During Covid
M&S Increased Online Share of Crucial Women’s Fashion Market During Covid at the Cost of Closest Rivals
In demand: M&S clothing sales to women grew fastest during pandemic
Marks & Spencer increased its online share of the crucial women’s fashion market during the pandemic to the detriment of its closest rivals, according to figures obtained by The Mail on Sunday.
The clothing and food giant grew its share of womenswear in the second half of 2020 faster than any other fashion retailer tracked by Kantar Worldpanel data.
M & S’s share of online womenswear sales rose 0.8 percentage points to 7% in the 24 weeks ending in December. It also increased its share over the full year, the data shows. H&M and Zara also increased their online share.
M&S is the nation’s largest womenswear retailer, but lags behind Next online.
However, Next, John Lewis and Debenhams all lost their share in the period.
The information will be received as good news ahead of Marks & Spencer’s full year results on Wednesday.
Shareholders are now hoping the retailer will benefit from the closure of other Debenhams stores last weekend.
M&S has invested heavily in its food business under Stuart Machin.
He was promoted last week to chief operating officer alongside Katie Bickerstaffe, who will take care of clothing and the home.
The reorganization was seen by observers as an attempt to “ lock in ” Machin – known internally as The Machine – to a succession plan that could see him replace Steve Rowe as chief executive.
Machin has been widely touted as one of the top contenders to replace Asda boss Roger Burnley