Marks and Spencer (M&S) is celebrating its 100th anniversary in India, marking a significant milestone for the British retailer in the country. As M&S commemorates this achievement, its strategic expansion and growing sales underscore its strong presence and popularity among Indian consumers.
Targeting Diverse Consumer Demographics
M&S has strategically positioned itself to appeal to a wide range of consumers, including both mature shoppers and the younger GenZ audience. While the brand caters to working professionals with its workwear collection, it also focuses on engaging a younger demographic through its holiday collection and premium brand Autograph. This two-pronged strategy ensures that M&S remains relevant across different age groups in India.
Expansion and Growth Trajectory
The British retailer has significantly expanded its footprint in India over the years, from 36 stores in 2013 to an impressive 100 stores by 2023. This expansion reflects M&S’s commitment to the Indian market and its recognition of India’s potential as a key growth driver. With a current retail space of 1.1 million sq ft, M&S aims to further increase its presence and exit FY24 with a total retail space of 1.4 million sq ft.
Adapting to Changing Trends and Consumer Needs
M&S’s agile response to changing trends and customer preferences has been instrumental in its success, especially during challenging times such as the Covid-19 pandemic. The brand quickly adapted its offerings to cater to evolving needs, such as introducing above-the-keyboard dressing during the pandemic and responding to increased demand for non-wired bras and sleepwear.
Embracing Innovation and Localized Strategies
Lingerie, a significant category for M&S in India, showcases the brand’s focus on innovation and meeting diverse customer requirements. Offering 44 sizes in women’s innerwear and emphasizing total support bras, M&S has seen notable growth, particularly in non-wired bras. Moreover, the brand’s presence in Tier 2 towns highlights its ability to enchant consumers beyond urban markets.
Future Outlook and Expansion Plans
Looking ahead, M&S remains committed to its existing 36 cities while also considering expansion opportunities in other Tier 2 towns. With a loyal customer base, a robust online presence covering 28,000 pincodes, and a strategic approach to product innovation and localization, Marks and Spencer continues to thrive in the dynamic Indian retail landscape.
Ben Müller
