Marks & Spencer is responding to a surge in demand for smaller sizes in womenswear by increasing its stock levels. Stuart Machin, the chief executive of the retailer, stated that the proportion of items in sizes six to 10 in its main seasonal collection has risen from 21% to 35% in the last three years. Even in other ranges, smaller sizes now make up around 23% of sales, up from 20% previously.
In response to a complaint from a customer about the lack of smaller sizes available, Machin assured that the retailer is working to ensure more stock is available. The shift towards smaller sizes reflects a changing customer base for M&S, with younger shoppers in their 20s, 30s, and 40s showing interest in the brand, which was traditionally popular with an older demographic.
M&S is not neglecting larger sizes but is focusing on meeting the demand for smaller sizes more effectively. The retailer has seen success in attracting younger shoppers, with more under-30s purchasing lingerie from M&S than ever before. This broader appeal has translated into increased profits and a growing customer base.
To reach a new generation of shoppers, M&S has revamped its marketing strategies, including leveraging social media and collaborating with younger influencers and celebrities. By stocking outside brands like Nobody’s Child and Sweaty Betty, M&S has enhanced its appeal to younger consumers. Additionally, the retailer’s own-label clothing now features more modern designs and prints.
The decision to stock a wider range of sizes and styles has resonated with customers, leading to a positive response in terms of sales and profitability. While there is a focus on smaller sizes, M&S remains committed to providing a diverse range of sizes to cater to all customers.
At the recent annual meeting, M&S addressed concerns about the use of agency workers and changes to employee discounts. The retailer defended its decision to adjust the staff discount policy, citing the need to manage costs effectively. Machin explained that the changes were necessary to ensure the long-term sustainability of the business.
Overall, M&S’s focus on meeting customer demand for smaller sizes and appealing to a younger demographic has proven successful. By adapting to changing consumer preferences and investing in its product offerings, the retailer has positioned itself for continued growth and profitability in the competitive fashion market.