Marks & Spencer (M&S) is doubling down on its commitment to affordability by cutting prices on over 300 ‘family favorite’ products, with a focus on children's clothing. The retailer is emphasizing on its dedication to providing trusted value and everyday low prices for its 32 million customers.
The latest price reductions target over 100 items in M&S's ‘everyday essentials’ kidswear range, with savings of up to 20 per cent. Popular items like cotton-rich hoodies and joggers, as well as sweatshirts, leggings, and t-shirts, are now priced at just $7 (approximately £5.50). These price cuts will not affect the quality or high sourcing standards the brand is known for, M&S assures customers.
Alexandra Dimitriu, Director –Kidswear (Clothing & Home), M&S, explains, nowadays customers look for trusted value in their apparel purchases. More than just price, they emphasize on the product’s value and seek assurance that it is well-made, sustainable and versatile, he adds.
In its recent holiday shopping season, M&S Group sales rose by 5.6 per cent to $5.1 billion (approximately £4.064 billion). The group’ Clothing, Home & Beauty segment reported a modest 1 per cent increase in sales, reaching $1.6 billion (approximately £1.305 billion). Like-for-like sales in this category rose by 1.9 per cent, while underlying sales grew by 2.6 per cent, exceeding market growth.
