Business Project: A Strategic Analysis of Marks and Spencer's Challenges

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MSc Management

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Marks and Spencer

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List of Figures

Executive Summary

The first and foremost section of this report consists of markers of the concerned trading company, Marks & Spencer (M&S), which is functioning in the retail sector of the United Kingdom. M&S has been experiencing several strategic management issues, among them being reduced sales in physical stores, bitter competition from fast fashion and online clothing sellers as well as the effects of Brexit and the COVID-19 pandemic on operations and supply chain. These challenges have put pressure on M&S's market share and profitability thus forcing the company to look for better strategies instead of traditional retailing.

This report will first provide the current position in M&S based on the secondary data collected, then by applying strategic business models the internal and external analysis will be conducted such as SWOT and PESTLE. A look at how the behaviour of consumers about purchasing new products and seeking social causes such as environment-friendly products have affected M&S in competing in the tactical retail business complex environment. The stakeholder analysis reveals that people in the organisation, consumers, shareholders, and producers are all highly sensitive to M&S’s current status in being able to sustain the historical image of the company while integrating into market trends.

To these challenges, the report suggests that M&S increase their spending on digital capabilities to create a smooth online shopping environment. This entails the establishment of the Omni channel retailing techniques that would coordinate online and offline shopping, the adoption of technologies to optimize the supply chain activities, and the abovementioned corporate social responsibility activities to meet the increasing customer concern of sustainability. Further, it is recommended that M&S should find ways to minimize dependence on overseas suppliers by seeking more supplies locally, in case Brexit disrupts their operations.

The recommendations included here are aimed at enhancing M&S’s competitive advantage, improving the company's efficiency, and building customer loyalty. By adopting the above approaches, M&S can successfully fit into today’s market trends hence the viability and sustainability of this business in a world that is going digital and becoming sensitive to the environment.

Introduction

Marks & Spencer is a well-known British multinational retailing company that has been in the market for more than 130 years. It sells good quality clothing, food, and home products and has been established for many years on UK high streets and has gone on to open stores across the world (M&S, 2024). M&S is a well-established retailer that has been able to garner significant market share in the past though it too has been struggling with its competitors in the contemporary retail market. The rise of e-commerce, which resulted from the change in customer buying behaviour, has greatly affected physical retail shops. Cutting-corner competitors like Zara and H&M have challenged M&S’s market position while online giants like ASOS and Amazon have also emerged as potential threats which have forced this company to lag in the eyes of today’s changing consumer culture (Pham and Nguyen, 2021).

To this effect, a fresh sort of competition pressure has emerged, including Brexit, which brought about supply chain complications and cost factors; this in addition the COVID-19, drastically impacted store traffic. These factors have accelerated the decline in in-store sales and led to aggressive pressure on the company’s organisational industrial performance. Also, as consumers become more conscious of environmental issues and the rightful usage of products and commodities, it has added another hardship that M&S had to face, that is, redesigning the ways of sourcing and manufacturing of those products that can fairly compensate the cost of manufacturing and still can meet the standard of ethical approval of its consumers.

This report has been classified into various major subdivisions as discussed below. It starts with the identification of the major strategic issues that M&S has been grappling with, about the industry and the society (M&S, 2024). This is followed by a stakeholder analysis which identifies how these issues impact internal and external stakeholders. Second, in this report, the evaluation is discussed concerning secondary data and the application of strategic frameworks. The last chapters provide recommendations on the ways through which these challenges can be addressed, and end with a summarization of the recommendations provided mainly in enhancing M&S competitiveness and market edge.

Challenges the Client is Facing

Identified Issues

The issue to be focused on for this consultation report will be, M&S’s tardy transition towards the digital retail and e-commerce platforms which caused the organization to lose its market share to rivals that are more profound in their usage of digital platforms. This issue comprises several other issues among them is the issue of in-store sales, competition, and customers’ expectations. The report will come up with a specific business development plan that will work towards enhancing the online sales of M&S products, the integration of the omnichannel retailing model as well as improving the uptake of digital services by the customers (Lauchlan, 2021).

The following are the main problems that are currently manifesting themselves at Mark & Spencer making it strategically vulnerable in the retail business Probably the most urgent problem is a decrease in the in-store sales, especially in the apparel and home categories. Trends that have been observed in current consumer behaviour reveal a growing tendency of the population to shop online rather than visit physical stores. This process has been recently intensified by the COVID-19 pandemic causing many physical stores’ temporary closing and, therefore, decreased foot traffic and increased reliance on shopping (Lauchlan, 2021). Therefore, M&S has faced problems with changing its old concept of organization and increasing the specificity of supply meeting customer demand in the virtual world, which has led to a decline in sales and profitability of retail stores(Xu, 2023).

Another major issue is the disconnection of the supply chain that has resulted from Brexit. Mr Kipling reports that changes in customs regulations, tariffs, and border controls have made importation of goods from European suppliers a nightmare for M&S. This has affected the M&S food division especially because the company has always stocked on fresh quality foodstuff imported from European countries. Also, the pandemic has impacted the execution of the global supply chain problems like the congestion of ports delays in the shipment of products, and increased transport costs. Such disruptions have affected M&S in two ways (Xu, 2023). They have impacted both its revenue profitability and customer satisfaction since customers’ preferences have changed – as they expect quick deliveries and constant stock availability.

The broader trend of consumer demand for sustainability is another challenge that M&S must address. Customers today are more conscious of the environmental and ethical impact of the products they purchase, seeking brands that prioritize sustainable sourcing, ethical labour practices, and environmentally friendly operations. While M&S has made strides through its Plan A initiative, which focuses on sustainability and ethical trading, the company still faces pressure to enhance these efforts and communicate them more effectively to attract the modern, eco-conscious shopper.

The other issue that is aggravating this one for M&S is the growing trend among consumers to be ecological. Consumers today are willing to pay for products of companies that consider the impacts of their products on the environment and society, as sources of raw materials, labour rights, and business impact on the environment. Despite the progress with its Plan A programme aimed at fighting problems of sustainability and ethical trading, the aforementioned company still experienced the need to up the ante on these programmes while also marketing them actively to better meet the current shopper who is increasingly environmentally friendly.

Connection to Current Affairs

The problems of M&S are interrelated with other bigger global and local processes. For instance, Brexit has put limits on international relations which means that the process of importing goods from Europe has become much more complex. This has impacted M&S's food procurement supply chain specifically for fresh produce and ingredients imported from countries in the EU; this has resulted in increased cost of food and delayed supplies from suppliers to M&S business stores hence affecting consumers considerably. How this company will respond to these disruptions will be important in retaining quality food products’ reputation.

COVID-19 further added to problems that M&S faced in its attempt to revive as many of the business outlets owned by the company had to shut down or work under restricted hours due to the pandemic (theguardian.com, 2020). The pandemic has also brought the trend of working from home and shopping online hence the pressure on M&S to boost its online sales capacity. Nonetheless, M&S implemented digital transformation late as compared to its competitors and this exacerbated its problem of reduced market share to online retailers benefiting from the growing trends of consumers relying on online shopping during the lockdown periods.

There is also the threat created by fast fashion and retailers that have increased over the years to threaten M&S’s clothing segment. Such as ASOS, Boohoo, Shein, and others manage to attract young clients by providing cheap clothing in the hottest trends for which young people are ready to wait in line for a moment to try on and, within a few hours, receive new clothes at their doorstep.

Consultant’s Perspective

A consultancy position these challenges combined pose a severe threat to the long–term survival of Marks & Spencer. Of all the findings depicted above, the decrease in in-store sales and the company’s slow movement to the digital retail environment is particularly worrying because it shows that M&S is lagging behind the curve when it comes to customer choices. Should M&S fail to modify its operations and strategies shortly, the business will continue to lose its market share to its highly operational and digitalized competitors. Looking at the company’s current course of operations it becomes clear that the approach currently used is not enough and a more proactive approach towards digital transformation is the only way forward. E-commerce is, therefore, a crucial area of investment for M&S especially since it has to ensure that its digital capabilities are well-developed to be able to counter stiff competition from other online powerhouse retailers (Jones, 2024).

However, the social responsibilities that the company exhibits can be criticized particularly the organization’s supply chain challenges. DLC, Brexit, and the current pandemic have exposed M&S’s dependence on international suppliers as being risky. To avoid such risks, M&S should think of redesigning its supply chain through near-shoring or buying some of its products locally and diversifying its suppliers. This would not only help avoid such an occurrence and the increased costs but also meet the current trend of buying products with elements of localization and sustainability.

However, today M&S firm stands at a crossroads. Hence, for it to remain viable it has no option but to evolve optimize, and open itself up to the latest opportunities given that the current generation of consumers is not the same as the generation of the nineties. The company needs to revolutionise digital and physical shopping by investing in the supply chain security and sustainability sections.

Purpose of the report

The purpose of this report is to identify major issues impacting Marks & Spencer’s performance in the present time and to generate a set of recommendations that have to assist a company in overcoming these issues and improving its business performance These measures will be aimed at making M&S more digital, supply chain stable, and consumer-oriented, which will enable the company to develop a clear strategy for long-term sustainable evolution.

Impact of research on stakeholders

Stakeholder Analysis

The major areas of operational challenges are evident in the Marks & Spencer (M&S) on the internal and external environment for the organization. Every group has its dynamics with the company and that affects them differently because of the issues the company is dealing with at the moment. It is for this reason that there is a need to undertake a detailed analysis of the stakeholders to gauge how these challenges affect M&S in decision-making and operations.

Internal Stakeholders

Employees

• Impact of Challenges: This makes sense because the in-store sales affect the business directly, especially its employees such as the salespeople who are key to the company’s operations. This has translated to fewer crowds shopping physically, negativities such as insecurity of jobs, and probable layoffs associated with physical stores.

• Digital Transformation Impact: Lately, M&S has started a digitalisation process which means that employees working for the company need to get acquainted with using new technologies and implementing new operational workflows, which entails training and development. While it is true that some employees are likely to land new opportunities such as those dealing with e-commerce and digital roles, it also means that some employees will have to switch from performing retail-related work to those that are technology-related.

Management

• Strategic Pressure: Presently, M&S’s management team has been under pressure to revisit its strategies for attaining the lost profit and market share. It is their role to implement measures that address the problems of diminishing sales, weak supply chains, and rising competition.

• DecisionMaking: Management bears the responsibility of making strategic decisions that affect stores shut down, supply chain, and going digital. These developments’ effectiveness or ineffectiveness shall determine the company’s future, regarding the decisions made.

Investors

• Financial Impact: It emerges that investors are keen on the financial firm’s performance since the company’s profitability and its market bills are down, thus impacting stock values and dividends. The company has recently gone through several bad quarters which have created doubts about the firm’s sustainability in the long run this has made investors call for quick reforms in the firm.

• Expectations of Digital Growth: In investors’ expectations, the most crucial aspects that need to be addressed are digital transformation and supply chain. Lack of commitment to these expectations might lead to a decline in the share value while commitment can lead to regained confidence and investors’ attraction.

External Stakeholders

Suppliers

• Supply Chain Disruptions: Many of M&S’s supply chain partners especially those from Europe are affected by the company’s problems and more specifically by the consequences of Brexit.

• Local Sourcing Opportunities: Therefore, these disruptions may lead M&S to move its source from abroad to local suppliers and may be beneficial to local businesses, but may be disadvantageous to the long-term suppliers depending mostly on the M&S contracts.

Customers

• Changing Consumer Expectations: Namely, customers of M&S in the fields of clothing and food look for convenience and speed in developing more sustainable qualities. E-commerce has become more popular with COVID-19 and if M&S’s online service and delivery service are not up to the market standard customers are frustrated for not receiving their orders on time.

• Product Availability and Pricing: There has been an issue regarding the availability of products in the shop due to supply chain problems, mainly for the foods section which will result in customer complaints. Also, increased operational costs resulting from Brexit and other global problems would be likely to be reflected in price which would further push consumers to adopt other products.

Broader Market

• Competitive Landscape: The larger environment is turbulent as well because of the given growth of digital-only players, and fast fashion brands at the same time. As such peers such as ASOS, Zara, and Amazon have shifted the benchmark to convenience, speed, and value addition in the entire value chain which M&S has to address. It also explains that the overall retail market requires adaptation of sustainable measures to survive in the market.

• Consumer Trends: Another issue for M&S is the sources of clothes and supplier’s ethical standards for production that changed due to the new emergence of sustainability and ethical stories of consumers (M&S, 2024). If the current trends are not met it may cause a company to become outdated, especially with the young generation who are sensitive to environmental issues and global social issues.

Impact of Issues on Stakeholders

The challenges associated with M&S affect all the different stakeholder groups in the organization. There is job insecurity for the employees and the fluctuating retail environment that they have to work in, on the other hand, there is pressure on decision-makers in the management to make the key decisions that will help in determining the future of the company. The interests of investors are centered on two areas, which include the company’s solvency and its ability to manage crises. From the case of suppliers, there are high costs and operational challenges in the new environment, especially European suppliers, whereas customers are seeking more convenience and better online services as well as sustainable products. Other related retail markets are changing at the same rate and M&S’s performance depends on how well this company is willing to transform it and answer these stakeholder concerns (Jones, 2024).

Evaluation and analysis of secondary data

This section synthesises an analysis of the problems affecting Marks & Spencer (M&S) based on secondary data sources such as the company’s financial statements, the general industry analysis, and case studies of similar companies. In terms of insight, this analysis employs strategic models including the SWOT, PESTLE, and Porter’s Five Force models to give M&S analysis of its position in the current market alongside comparators such as Next, Primark, and ASOS.

Evaluation of M&S’s Challenges Through Secondary Data

Declining Instore Sales

• Through three years M&S has been experiencing a decline in its in-store sales especially in clothing and home divisions (Devlin, 2023). Data from M&S’s annual financial statements reveal that the sales in these divisions have not been as good as they should have been, and from the 2020/2021 financial statement, they reveal a 24. That is a 1% drop in clothing and home sales compared with the previous year (M&S, 2020). This was especially badly affected by the pandemic since lockdowns and restrictions for businesses contributed to the forced shutting down of physical storefronts. However, it is actual demand that remains fully reformatted for the future: even after the restrictions have been lifted, one cannot but mention that consumers have permanently switched to making their purchases online.

• Secondary market research sources include Mintel and Euromonitor, which establish that after the pandemic, a considerable proportion of retail stores’ sales have moved online. Consumers won’t accept anything less than convenience, quickness, and everything related to the digital economy, which has always been A-rank for M&S. The company has not been quick to fully integrate the digital retail and e-commerce platforms which has led to the decline of its market share within the fashion world as well as the food industry.

Increased Competition from Online Retailers and Fast Fashion Brands

• With the emergence of fast fashion and online players like Inditex’s Zara, the Swedish giant H&M, ASOS, and Boohoo M&S has on its hands a major challenge. Fast fashion brands have therefore attained high consumer appeal on account of the cheap, trend-based, fast-consumer goods, which are easily available in the market. As stated in the Statista report fast fashion’s major retailers have a significant share hence fast fashion's capability to respond dynamically to fashion trends appeals to a youthful, fashion-savvy demographic.

• It is further important to state that M&S offers what may be considered more conventional products, and the company’s prices are not as low. Further, there are challenges in attracting young people because they form a large percentage of online retail users. For instance, ASOS has revealed a 23% year-on-year increase in the number of active users in 2021, which was attributed to its effective use of web-based marketing strategies and client interactions through social media.

Supply Chain Disruptions

• Certain contingencies have affected the supply chain for M&S Business They include issues of Brexit and the recent COVID-19 pandemic (McLoughlin, 2023). Brexit imposed new customs procedures, taxes, and regulatory impediments, most of all to M&S chain food supply since it depends on the European producers greatly. Such changes as pointed out by M&S lift operating expenses and worsen the procurement lead times for products. According to the company’s 2021 annual report, the inefficiencies of the supply chain have seen the organisation experience issues of stock-outs, particularly in certain categories which raised customers’ attrition levels as well as poor sales performance.

• The pandemic also raised issues in the company’s supply chain risk as disruptions in supplying countries affected delivery time, costs, and congestion at the ports. In McKinsey’s Global Supply Change Report, organizations across the retail sector were experiencing similar problems with those companies, that have digital support and diversified supply chains, like Next and Primark, experienced less severe consequences.

Changing Consumer Preferences

• It needs to be noted that consumers are increasingly becoming sensitive to issues to do with sustainability and ethical responsiveness from companies and firms (StudyCorgi, 2024). A study conducted by Deloitte shows that more than 50 percent of consumers are ready to spend extra bucks for sustainability. The company has in this area observed the following through its Plan A sustainability and ethical sourcing strategy. However, M&S has failed to convey these efforts to the customers in the same manner as H&M, which came up with the Conscious Collection, and relentlessly advocates for sustainability (StudyCorgi, 2024).

• Still, the work of Marks and Spencer remains insufficient in such directions as sustainable packaging, and circular fashion, which were advanced by competitors. An example is Zara which set a goal to utilize only sustainable fabrics and by 2025 had thus improved its brand image with environmentally conscious clients.

Theoretical Frameworks for Evaluating M&S

SWOT Analysis

Figure 1: Swot Analysis

PESTLE Analysis

1. Political: Brexit has led to several changes that have impacted the costs of operation for M&S for instance through regulators, tariffs, and customs barriers affecting the company’s food division (Marketing Tutor, 2019). This political environment qualifies the relations of trading with European suppliers as complex.

2. Economic: Increased inflation levels as well as increased economic instability due to the outbreak of the COVID-19 pandemic also has an impact on consumer behaviour. The price-sensitive customers can decide to shop at the cheaper end from other discount retailers or low-end fast-fashion brands (Marketing Tutor, 2019).

3. Social: Consumer behaviour has transitioned in the recent past with the consumer transitioning to online shopping and focusing on sustainability. The consumer trends of the world have changed and their shifted needs are one through which M&S has to aim to make the necessary changes to the products and services they are offering.

4. Technological: Therefore, the rapid advancement of e-commerce technology could pose a challenge but at the same time be an opportunity for M&S. It is necessary to make definite investments in the digital sphere to challenge other bright and IT-oriented retail companies such as ASOS or Amazon companies.

5. Legal: Some of the legal requirements include new trade deals that were made after Britain left the European Union this affected M&S in trade and compliance costs (Marketing Tutor, 2019).

6. Environmental: New trends of Sustainability in doing business indicate that M&S needs to extend its efforts in sourcing products that are environment friendly as well as cutting down on its carbon emissions to keep up with customer expectations.

Porter’s Five Forces Analysis

1. Threat of New Entrants: The retail market is intensive but mostly concentrated on the internet market and has high industry immobility when it comes to brand and capital investment (Ukessays, 2024). The existing fabric market player like M&S has its place but there could be newcomer online players who could also offer radically different propositions.

2. Bargaining Power of Suppliers: Brexit is expected to increase the cost of doing business with European suppliers and this is a risk that M&S may encounter in the future. Others such as suppliers who may be offering products that have no substitutes or suppliers who may have an edge in the logistics aspect may have a greater bargaining power.

3. Bargaining Power of Buyers: In this sense, the consumer has numerous options available in the retail market to choose from. When there is stiff competition from online and fast fashion players the buyers gain the bargaining power where they are likely to negotiate for cheaper prices, better services, or shortened delivery times.

4. Threat of Substitutes: The threat of substitutes is strong in Segments, A and C since the customers can readily switch to other companies such as Next, Primark in the clothing segment, and Tesco and Sainsbury’s in the food segment providing similar products.

5. Industry Rivalry: Thus, competition in the retail industrial section is high. Its competitor analysis shows intense competition in clothing from Next Zara, and H&M, while in the food market from established retailers such as Waitrose and Sainsbury’s. This competition has further been advanced by the adoption of digital retailing strategies where different players have deployed significant resources (Ukessays, 2024).

Comparative Analysis with Competitors

Next

Next is a gross competitor of M&S and a direct competitor especially in the fashion retail business (IvyPanda, 2022). For instance, M&S has failed to integrate the online and offline stores, a factor making its omnichannel service providing a difficult aspect for any customer to shop online while getting their goods collected in a store, something that Next has done well for online and offline stores. More recently, Next has experienced a higher level of e-commerce growth compared with M&S; more than 60% of Next’s sales are now made online. Specifically, the clear and simple web interface coupled with the appropriately low prices has made it continue to be rather popular in the sphere of fashion.

Primark

Primark is also characterized by selling clothes for a really small amount of money. Although Primark rarely practices e-commerce, its selling price and turnovers are very low hence it has been adapted to trading in physical stores. Primark has far more competitive pricing and updated new stock far more frequently than M&S which offers goods at a higher price (Eisenberg, 2019).

ASOS

ASOS stands as a digital native competitor that has leveraged the shift of the sales mode towards e-commerce. In bedroom fashion, ASOS has also been a preferred Wear destination for younger people due to the map intake of their user-friendly website, effectively personalized marketing tactics, and rapid delivery services. Conversely, M&S’s stores’ depth has been weaker or not as extensive and it has failed to appeal to the younger computer-orientated generation of consumers. The type of products offered by ASOS is relatively closer to fast fashion trendy products most of which have a shorter life cycle compared to the products that M&S deals in, it is therefore better placed to compete in the online market.

From the analysis of secondary data and, especially utilizing such strategic frameworks, this is to point at the key and emerging issues affecting M&S stores, as illustrated by the following: Instore sales are falling, competition is stiff, the supply chain is interrupted, and people’s preferences have changed. In comparing M&S with similar competitors such as Next, Primark, and ASOS, it is identified that the firm needs to step up the digitization process, follow a more flexible and relatively cheaper product pricing strategy, and improve on shift supply chain vulnerability (MBA Skool , 2023). By responding to these challenges it will be possible for M&S to achieve better strategic fit and hence, enhanced long-term performance.

Recommendations and conclusion

Recommendations

Considering the identified challenges of Marks & Spencer (M&S), it is possible to derive several strategic recommendations that would mitigate the company’s issues of Digital Transformation, disrupted Supply Chain, growing Competition, and Shifted Customer Expectations. These recommendations aim at identifiable measures that M&S can take to enhance the business and operational efficiency to recapture the much-needed niche in the retail market.

Accelerate Digital Transformation

M&S has to improve its current level of offerings for e-commerce to support a synchronised shopping experience online. It includes the modification of website and mobile interfaces and applications, innovative UI designs, and customized promotion strategies based on consumers’ demographics. Thus M&S should strive to deliver an even better digital experience to be able to contend with ace digital native brand- ASOS. Useful functions like recommendations to similar products, virtual fitting, and with clients' permission, custom offers will ensure that customers will come back to the site and buy more.

Enhance Supply Chain Resilience

The key issue in M&S’s competitive context is the disruption of the supply chain resulting from Brexit and COVID-19 (Murthy, Barry, and Ellis, 2021). To overcome this issue, M&S has to develop a strategy that will at least partially lessen the dependence on European imports and one of the ways to do this is to expand supplier partnerships with local suppliers. The company could shift its practice of sourcing products closer to the market where its customers are to cut cost, and time, and manage customer expectations. Furthermore, it is in line with the current trend of locally produced commodities as people shift towards sustainable and ethically sourced materials.

Sustainability Initiatives

Today, customers are increasingly more responsive to products that are friendly to the environment. The company should do more to the existing ‘Plan A’ strategy by designing new ways of offering sustainable and ethically produced items. For instance, within the range of fabric options for the clothing division, there should be more options for clinical or organic cotton or recycled fabrics. They should also consider the circular fashion that people consider in their everyday lives this includes rental services or recycling programs.

Conclusion

In Conclusion, the giant retailing company of Great Britain Marks & Spencer is enjoying various challenges. Instore sales are declining, the competition arises from online and fast fashion retailers, supply chain issues, and consumers’ changing trends toward sustainability. To overcome these challenges, the report has given a set of strategic suggestions about how to progress in digitalization, improve the supply chain flexibility, develop sustainability measures, and renew the clothing line to target young people.

The recommendations highlighted in this report are in the areas of technology, increased efficiency, and competition. M&S can develop even closer relationships with customers by building engaging, easy-to-use online stores, following the omnichannel model, and improving the company’s sustainability efforts to sustain its position in a rapidly evolving retail environment. Furthermore, enhancing the supply chain and modifying the fashion range will enable the firm to overcome external threats and move towards sustainable long-term development.

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