DESPITE its continued commitment to high profile advertising campaigns featuring the likes of Erin O’Connor, Lily Cole and Twiggy, UK high street giant Marks & Spencer has lost valuable market share in the clothing sector.
According to new figures published today in The Daily Telegraph, during the 24 weeks to March 1 2009, M&S’s share of the clothing sector dropped 12 basis points from 10.78 per cent to 10.66 per cent. The brand’s core womenswear ranges suffered the biggest drop of 21 basis points, while the menswear collections dropped by eight points and the childrenswear share fell by one point.
It is thought that Marks & Spencer’s rivals Next and Debenhams – who both saw market share increases during the period – have lured away the brand’s shoppers with sales promotions.
In spite of this, M&S remains confident. A spokesperson for the company explains that in times of high promotional activity, market shares tend to fluctuate and, for this reason, Marks & Spencer focuses on yearly figures. "If you look at any quarter," the spokesperson tells the newspaper, "we could be up or down in womenswear, up or down in menswear. Therefore, on aggregate, we tend to look at it over a 12-month period."
And of that 12 month period, M&S executive chairman Sir Stuart Rose said at the brand’s fourth quarter trading update that "year on year, womenswear has gone down a bit; menswear and childrenswear have gone up a bit; and lingerie has stayed level."