Strategic Analysis of Marks and Spencer 2023
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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Marks & Spencer is a multinational retailer that operates various retail stores. The company is focused on own-label businesses, including food, clothing, and home and bank services in the United Kingdom and internationally. M&S is a leading British retailer bringing quality, great-value food, clothing, and homeware to millions of customers around the world. They have more than 1487 stores and 98 websites in the UK and it serves over 100 international markets. M&S Bank provides a range of financial services including credit cards, savings, and insurance.
The report used a number of strategic tools including PESTLE, Porter's five forces, SWOT, VRIO, and the Value chain to examine the company’s internal and external environment. The report analyzes the company’s strategic positioning in the market and how it can be strengthened.
An analysis of the Marks & Spencer and its business environment reveals a number of challenging trends and issues that it needs to address in order to needed to become a leaner and more efficient organization that can compete against rivals.
Some of the recent macro and micro challenges include; the impact of Brexit on consumer confidence, supply chain, tariffs and regulations, the COVID-19 pandemic and the subsequent lockdowns, social distancing measures and changes in consumer behavior, increased competition from online retailers, discounters and fast-fashion brands that offer lower prices, faster delivery, and more variety, the environmental and social pressures to adopt more sustainable and ethical practices in sourcing, production, and packaging among others to be addressed in the essay below. Some of the micro-challenges include; a decline in sales and market share of its clothing division, especially in women swear, due to outdated designs, poor quality, inconsistent sizing, and lack of innovation, failure to adapt to the digital transformation and leverage its online presence, customer data, and loyalty program, high operating costs and inefficiencies in its store network, distribution centers, and logistics. These challenges have resulted in lower revenues, margins, and profits for M&S, as well as a loss of customer trust and loyalty
This analysis answers key questions such as; what are the strengths of Mark and Spencer? What are its weaknesses?
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A Strategic Analysis of Marks and Spencer Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Identify the strengths, weaknesses, opportunities, and threats of Marks and Spencer and its competitors.
- Evaluate the strategic options and choices available to Marks and Spencer in terms of growth, diversification, internationalization, and innovation.
- Apply various strategic management tools and frameworks to analyze the external and internal environment of a company.
1.0 INTRODUCTION
Marks and Spencer Plc. Is a leading British retailer operating in the sale of its own brand of high-quality and great-value clothes, food, and homeware, along with a wide range of third-party brands. The company has 1487 stores, and 98 websites in the UK and serves over 100 international markets. The company has a long history of innovation, quality, and customer service, but it has also faced several challenges in recent years, such as declining sales, increased competition, and changing consumer preferences. In the report, we will conduct a strategic analysis of M&S using the SWOT framework, which examines the strengths, weaknesses, opportunities, and threats of the company.
As of 2023, the company made a revenue of $14.77 billion which is an increase over the year’s 2022 annual revenue which was $14.30 billion, which was also an increase from that of 2021. The company attributed this growth to its successful online strategy, its focus on sustainability and quality, and its resilience during the COVID-19 pandemic. The company also reported a profit before tax of £410 million, up from £67 million in 2021.
This report uses the case study of Marks and Spencer Plc. to examine the macro and micro environmental changes in the UK retail industry. With the importance of frameworks such as PESTLE, SWOT, Porters Five Forces, VRIO, and generic competitive strategies, the report will undertake a strategic overview of Marks and Spencer Plc., including its financial performance, competitive microenvironment, competitive advantage, technological improvement, pricing strategy, and many others, over the last 2-3years.
Key questions to answer include; what is Marks and Spencer Plc.’s current strategy? What are the strengths of Marks and Spencer Plc.? What are its weaknesses? Who are the competitors of the Lidl brand? What is the competitive strategy of Marks and Spencer Plc.?
The report will conclude with suggestions and a discussion of strategies and tactics that could be used by Marks and Spencer Plc. to respond to the major changes occurring in the supermarket industry.
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