Ahead of the festive season, M&S is launching a new marketing campaign to communicate sharper pricing on everyday lines.
New strapline to emphasis value
From November 13th, 'Re-marks-able Value' badging will be deployed across the offer to draw customers' attention to low priced products across M&S's range. To be included, all items have been price benchmarked against key competitors and must also uphold M&S's own quality, welfare and environmental protection thresholds.
The strapline will be used throughout stores and on digital and social media. This will include the creation of 13 'Re-Marks-able hot spots' in-store to highlight stand-out value items on key lines such as salmon, bread and pasta. A distinctive logo will be used on point of sale and ticketing for all Re-Marks-able products and ranges to create a clear and consistent value message that helps build customer trust in M&S's value positioning.
Prices cut on 500 popular lines
The launch of Re-marks-able follows a stepping up of price investments to challenge perceptions that M&S is expensive. In the last year M&S has lowered prices on 500 lines and in recent months has focused on regularly purchased products, with the £100m cost substantially offset through the removal of complex and often confusing promotions. The move is a key part of M&S's transformation plan to broaden its appeal to more families across the UK, to become more relevant more often.
Commenting on the campaign, Stuart Machin, Managing Director of M&S Food, said: “Re-Marks-able is part of our plan to debunk the myths about our prices, as we know customers’ perception doesn’t always match the reality. M&S Food is changing fast and our value is increasingly competitive, especially on the everyday products families shop most often. But as we change, we’re protecting the things customers love about M&S and that means never compromising our outstanding quality or sourcing standards, because it’s those features that make M&S value Re-Marks-able.”
Driving profitable sales growth
Talking about the strategic context, Stuart Machin said “We need to tackle price perception to take advantage of market share opportunities and our lowering costs of goods programme is a critical enabler to our investment in trusted value, as well as driving profitable growth. M&S is changing to operate with more efficient and commercial operations and become a lower cost to serve business. However, we are retaining the things that make M&S Food special - as delivering our exceptional product quality at even better value creates a differentiated and compelling proposition.”
More insight for Retail Analysis subscribers:
- Strategic Outlook for M&S - We update on strategic priorities in the UK, including sharpening its food pricing and promotional strategy, reshaping its store estate and unlocking new growth through its online grocery joint venture with Ocado
- M&S Food’s new “bigger, better, fresher” format - See inside M&S's first Food Revival Store with its striking new design and market inspired merchandising