Understanding Merchandise Mix of Marks & Spencers store
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Project is based on understanding the merchandise landscape of Marks & spencers store in Kormanagla
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Understanding Merchandise Mix of Marks & Spencers store
- 1. Subject : Fashion Merchandising Submitted to : Prof. Nethravathi Date : 14/08/2014 Submitted from: Disha Sood Shivam Taneja Shivani Ambikapathy Srishti Raut
- 4. Introduction
- 5. Marks and Spencer of Britain started as a stall in 1884 by Michael Marks, as a general retailer First store in India in 2001 and in April 2008 got into a joint venture with Reliance retail M&S currently has 23 stores India is the most important market for its sustainable business practice named 'Plan A' Marks & Spencers Source ! http://corporate.marksandspencer.com/plan-a http://dlfpromenade.com/shopDetails.asp?id=6&catid=6
- 6. “British-ness is as saleable as ever in any part of the world” - Steve Rowe, executive director at M&S.
- 7. For years, M&S’ marketing philosophy was simple: ! ! “Produce high quality products under a recognised brand name at affordable (but not cheap) prices, and advertise through word-of-mouth.” Positioning Source ! Marks & Spencer - The Marketing Society
- 8. Consumer Profile Upper middle class to High class of the society Aged between 25-55 years Willingness to pay for quality , and is brand conscious . Values the brand & the services beyond the purchase. Designs matter as does the comfort. Source ! Survey - Disha Sood
- 10. Introduction ! The first flagship standalone store in South India, opened in April 2013. ! The store in Bangalore provides each clothing brand its own distinct look and identity. ! Employee profile ! Dhruva Darshan is the current commercial manager at Marks and Spencer, Koramangla store. He has been a part of the company since the inception, 2013. He heads the sales and operations team. He can be contacted at - +91 9632396900. Source ! http://www.boldsky.com/insync/life/2013/marks-and-spencer-bangalore-032869.html
- 12. Variety Apparel & Beauty Breadth Brands Depth SKU’s ,Variations & Fabrics
- 13. Variety
- 14. “A merchandising strategy in which a retailer stocks a large number of different products.” ! -Investopedia “The quality or state of being different or diverse” ! -Oxford Dictionary
- 15. Women’s wearMen’s wear Kid’s wear Lingerie Beauty & Fragrances Apparel
- 16. Merchandise Share Kids wear is currently holds 5% merchandise share at the store ! While beauty & fragrances has a mere 3% share
- 17. 17
- 18. Breadth
- 19. “The number of assortments in a specific category” ! -Retail India “Being intense in scope by immersing your business into an industry or product category.” ! -Marketing Spot
- 20. The core brand that M&S began with,it is the most well received & well known amongst its in house brands . ! High priced apparel brand with attention to detail to give a Designer look. With Limited M&S aims to keep a specialised collection with attention given to High Fashion and exclusivity . ! Purely Casual wear for Women with emphasis on the pricing which is affordable and styling which is minimalistic Women’s Wear
- 21. The brand features the seasons key trends, perfectly edited to give aspirational yet attainable style wardrobe. ! The brands , here focuses on signature & exclusive contemporary styles. ! Smart & casual clothing aimed at a young edgy style. ! A fresh casual collection inspired by the East coast living focusing on vintage laid back look ! Cool , vintage inspired pieces , that create a relaxed & authentic look. Men’s Wear
- 22. It hosts items suitable for women aged 30-40 years at a low and affordable price. ! Lingerie sets made from beautiful French- designed lace, sumptuous silk and vintage-inspired tones. ! Showcases , exotic prints & designs which cater to a exclusive target audience Lingerie
- 23. Kid’s Wear The designs are bright & hardwearing , which are perfect to standing up for any amount of Rough & tumble. !
- 24. Beauty Currently retailing fragrances and a variety of creams & lotions under 2 in house brands - Autograph & Peruna
- 25. Obsolete Brands • Big & Tall - Specially-proportioned for big and tall men & the apparel brand is no longer being retailed in the Indian stores. ! • Beauty - Currently stocked in stores , the sale & share of shelf display is slowly becoming obsolete.
- 26. Fabrics M&S uses quality fabrics for it’s apparel line. It includes: Cotton Viscose-cotton Linen Silk Woollens Lycra Satin
- 28. Depth
- 29. “Product depth is the number of each item or particular style of a product on the shelves. Product depth is also known as product assortment or merchandise depth.” ! -Marketing Spot
- 30. In women’s wear, 14 pieces of each merchandise is stocked at the store. 1) Women’s casual and formal tops – Sizes include • S • M • L • XL • XXL ! Out of these sizes, XL and XXL sell the most. ! 2) Trousers – sizes stocked include • 6-8 (S) • 10-12 (M) • 14 (L) • 15 (XL) • 18 (XXL) ! Out of these sizes, the sizes that sell the most are 16 & 18. Women’s Wear
- 31. Styles & Category Women’s Wear Casuals Tops Jeans Treggings Skirts Dresses Formals Trousers Shirts Blazers Formals Trousers Shirts Dresses Woollens Casuals Jeans Tops Dresses Formals Trousers Shirts Casuals Trousers Jeans Jackets Dresses Tops
- 32. Men’s Wear • The store stocks 14 pieces of each merchandise. 1) Casual and formal shirts – Sizes include ! • S (4 pieces) • M (2 pieces) • L (4 pieces) • XL (2 pieces) Out of these sizes, S and L sell the most. ! 2) Trousers - the store keeps stock of sizes ! • 30 • 32 • 34 • 36 • 38 • 40 Out of these, the smallest sizes (30,32,34) sell the most.
- 33. Styles & Category Men’s Wear Casuals Polo shirts Jeans Shorts Formals Trousers Shirts Blazers Ties Formals Trousers Shirts Ties Woollens Casuals Polo Shirts Chinos Trousers Jackets Casuals Polo Shirts Chinos Shorts Jackets Casuals T Shirts Shirts Chinos
- 34. Kid’s Wear The kid’s wear section of the store is one of their smaller categories of apparel merchandise. They stock sizes: ! • 1-2 • 3-4 • 5-6 • 7-8 • 9-10 ! Sizes 7-8 sells the most and is also stocked more than the other sizes.
- 35. Lingerie & Beauty • The lingerie segment in India, has mass appeal amongst the consumers • It accounts for 18% of the total sales. Their star brand is Limited Collection. ! ! • The beauty segment of M&S accounts for only 3% of the total sales. • Amongst their brands, Per Una for women and Collezione for men sell the most.
- 36. Store Policy • Specialised personnels • Exchange policy & Cash back even after 45 days • Loyalty club - Preview sales, special catalogues & personal approach • Convenience provided through home delivery • Sales - Bi yearly ! ! “For us the customer who makes even the smallest of purchases holds the highest of value”
- 38. Assortment Strategy Narrow A. Specialist Image B. Customer oriented approach C. Emphasis on Apparel Category D. 2000-2014 : Slow growth of expansion Deep A. Depth in SKU’s to prevent shortfall of stock B. Variations as per consumer profile & aspirational market C. 2000-2014 - Design & detail change
- 39. ₹ ₹ ₹ Womens Mens Kids Lingerie Beauty Sales Contribution (Per Week) Figures in Lakhs
- 40. Analysis of Strategy Cost to fill Bill to fill The star brand of both Men and Women’s apparel in Mark’s and Spencer is M&S Collection.
- 41. Future Marks & Spencer has pledged to make India its biggest market outside the UK M&S wants to have 80 stores in India by 2016, compared to the 40 at present The same-store-sales grew 13 per cent in the fiscal year ended March 2014 M&S is also planning to enter the food sector by 2016
- 42. Q & A
- 43. Thank you