The Daily Post:- 16th March
“Take the Easy Money”
Wandering around a Marks & Spencer food court in the weeks before Easter is still a very pleasurable experience if you enjoy comfort eating at this inclement time in an inclement year.
M&S has had its fare share of criticism over recent years, quite rightly in many cases, however it still remains one of the retail juggernauts emanating from sepia days which has managed to steer a reasonable course through the e-commerce revolution, managing a huge store portfolio, expanding its brand authority across a variety of new product sectors and establishing itself as one of the more credible e-commerce retailers.
However food is its thought for today, and despite recent wobbles has continued to out perform its other departments and gain market share in unbelievably competitive company.
So, perusing the Easter fayre, I’m struck that success doesn’t always have to come from blue sky thinking, but just smart thinking, and efficient operations. For what M&S does in food, and should be a lesson for its other departments (where for example popular size school tights are as difficult to find in August as a red Tellytubby figure back in the day) is…just take the easy money.
I am surrounded by a gloriously tempting hot cross bun display. Not just your run-of-the-flour-mill regular bun, but small ones, large ones, individual ones, pairs and multipacks…with currents, cherries, chocolate and every curd and berry combination imaginable.
However the icing on the hot cross bun cake is… the hot cross bun loaf!
Bakery heaven in a block!!
So maybe I’m easily pleased and possibly a little behind the hot cross bun trends but the point is that M&S never misses a trick to exploit the market for a cast iron best seller and to expand that market to its maximum potential with range development and some imaginative variations.
Rocket science it isn’t, but science it certainly is – where analysis of the driest of data can lead to some very juices sales figures when the fruits of your labours hit the hot cross bun shelves!
So take a leaf from the M&S book.
Are you really maximising your best sellers for the pleasure of your customers, or leaving them frustrated and heading for the nearest alternative retailer?
Are you too busy chasing other people’ business instead of getting your own best-seller house in order?
Happy Easter M&S.
The Daily Post consists of my ‘everyday’ responses to the ups-and-downs of the unfolding retail day…offering some shared experiences & advice on how to mould your retail world into a more cooperative and pleasant place.
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Tim Radley
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