M&S increased online share of crucial women’s fashion market during Covid at expense of its closest rivals
In demand: M&S’s clothing sales to women rose fastest during the pandemic
Marks & Spencer has increased its online share of the crucial women’s fashion market during the pandemic at the expense of its closest rivals, according to figures obtained by The Mail on Sunday.
The clothing and food giant lifted its womenswear share in the second half of 2020 faster than any other fashion retailer tracked by Kantar Worldpanel data.
M&S’s share of women’s clothing sales online rose 0.8 percentage points to 7 per cent in the 24 weeks to December. It also increased its share in the full year, data shows. H&M and Zara also boosted their share online.
M&S is the biggest women’s clothing retailer in the country but lags behind Next online.
However, Next, John Lewis and Debenhams all lost share in the period.
The information will be received as welcome news ahead of Marks & Spencer’s full-year results on Wednesday.
Shareholders are now hoping the retailer will benefit from the closure of the remaining Debenhams stores last weekend.
M&S has invested heavily in its food business under Stuart Machin.
He was promoted last week to joint chief operating officer alongside Katie Bickerstaffe, who will run clothing and home.
The re-organisation was seen by observers as an attempt to ‘lock in’ Machin – known internally as The Machine – to a succession plan that may see him replace Steve Rowe as chief executive.
Machin has been widely touted as a top candidate to replace Asda chief Roger Burnley