Marks & Spencer SWOT analysis – SWOT analysis of Marks & Spencer: Marks & Spencer is a well-known retailer of clothes and accessories brands located in London. The retailer is present in many categories such as casual wear, formal wear, sportswear, party wear, hosiery and accessories, footwear, and eyewear and has a focus on women, men, and children. The company is essentially divided into its operations in two areas: the UK in addition to internationally. The company has 390 full-line shops, 910 locations within the United Kingdom, 220 owned and 300 franchised Simply Food Stores. The chain of stores was founded by Michael Marks and Thomas Leeds in 1884. The company earned a profit totaling 10.62 million pounds in 2018.
The company was celebrating its 120th anniversary in 2004 year, it operated over 3000 stores spread across thirty countries around the globe and had an estimated capitalization of USD 11.6 billion. value of 11.6 billion. At the present, Marks & Spencer is a company to be reckoned with in the retail industry globally.
Marks & Spencer fun facts: In November 2008, Marks and Spencer started to sell branded goods. One of them is the Corn Flakes of Kellogg.
About Marks & Spencer – SWOT analysis of Marks & Spencer
Company: Marks & Spencer PLC
CEO: Steve Rowe
Founder: Michael Marks | Thomas Spencer
Year founded: 1884, Leeds, United Kingdom
Headquarters: London, United Kingdom
Annual Revenue: Pound£9.17 billion
Profit | Net income: Pound£1.2 billion
Number of employees: 70,000
Products & Services: Menswear | Womenswear | Sleepwear | Lingerie | Loungewear | Beauty Products | Home products | Food products
Marks & Spencer Competitors
SWOT analysis of Marks & Spencer – Marks & Spencer SWOT analysis
SWOT Analysis Of Marks & Spencer is brand-based. SWOT Analysis of Marks & Spencer evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Marks & Spencer’s SWOT Analysis. Below is the detailed SWOT Analysis of Marks & Spencer.
Let’s talk about Marks & Spencer’s SWOT assessment.
Strengths of Marks & Spencer – Marks & Spencer SWOT analysis
- Clear Image of Brand: Marks & Spencer is positioned as a premium-worth product that focuses on the premium market. To match their brand image, the merchandise that is sold by the retailer, particularly in their clothing is trendy contemporary, stylish, and elegant. The result is the brand having a distinct brand image and the customers are assured that they will receive the best from the Marks & Spencer store.
- Private label: In addition to selling premium brands such as Louis Vuitton, Vero Moda, and Versace, Marks & Spencer also has its own brands in nearly all categories. The most well-known private labels are Per Una, North Coast, Indigo Collection, Autograph, and Classic Collection. Private labels like these have been successful in establishing customers’ familiarity with the brand name Marks & Spencer and also enhanced brand recognition.
- Innovative ideas: Across its 150 years of operation, Marks & Spencer has been in the game primarily due to its drive for ingenuity. Innovation at Marks & Spencer is also associated with communication and creativity and employees from all various levels have been encouraged to step outside beyond the norm and offer concepts wherever they think it’s needed. This freedom of creativity is the biggest strength of the company.
- Diversity: Marks& Spencer has around 80,000 employees in their offices and showrooms across the globe. The company promotes diversity and therefore has employees of all races, religions, and genders. It is also an equal chance employer and makes sure that there isn’t discrimination of any kind in the workplace. All of these aspects make sure that employees are sensitive to culture and are able to better understand the needs of customers.
- Multichannel presence: Marks and Spencer has brick-and-mortar as well as online stores and offers franchising opportunities. The company owns more than 910 locations located in the United Kingdom, 220 owned and 300 franchised Simply Food Stores. Alongside this, they also operate an online store where customers from around the globe can buy Marks & Spencer merchandise.
Weaknesses of Marks & Spencer – SWOT Analysis Of Marks & Spencer
- Inability to gain traction in the international market: Marks & Spencer has its main presence throughout Europe, the United Kingdom, and the United States. While it has opened shops within Asia in addition to Middle Eats they have been unsuccessful in gaining customers due to the fact that its designs are modern and not traditional.
- Satisfaction of customers: The customers are Marks & Spencer often exhibit low levels of satisfaction and there were a variety of complaints regarding the return policy as well an in-store experience. This has led to poor customer loyalty and a rise in customer turnover.
- supply Chain Scalability: One of the major flaws which Marks &Spencers has is the poor capacity of its supply chain. While the company has tried to make it easier for customers to access their products via their online store, they have not been able to scale the supply chain to provide to every location in the world. While they’ve tried to expand their reach to Asia due to the issue of inventory and stock that is not sold, they have recourse to the end-of-season sales to clear their inventory.
Opportunities of Marks & Spencer – Marks & Spencer SWOT analysis
- The new segmentation: Fashion is an evolving business, and new segments pop up regularly. In Asia, there is a massive market for traditional and ethnic clothing that Marks & Spencer has been in a position to not capitalize on. This is one area that could show lots of promise for the retailer.
Threats of Marks & Spencer – SWOT analysis of Marks & Spencer
- Competition: The main competitors of Marks & Spencer are Uniqlo, Gap, Tommy Hilfiger, Zara, and United Colors of Benetton.
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Overview Template of Marks & Spencer SWOT analysis
After a careful study of the swot analysis of Marks and Spencer, it comes to our attention that the company is very strong and has a good reputation for providing quality products. But the threat of competitors is also real. Therefore, shutting down stores is not the solution. The management should segment the customers, and keep opening the stores targeting the needs of stores. This is the only way to move forward.
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