Marks & Spencer luring customers away from nearly all its major supermarket rivals
Marks & Spencer is luring customers away from nearly all its major supermarket rivals, The Mail on Sunday can reveal.
The boost has come well ahead of the usual Christmas peak for M&S when shoppers traditionally ‘trade up’ for better quality food.
The retail giant is understood to have taken market share from most of the other leading grocers with the exception of its delivery partner Ocado and German chain Lidl, according to closely guarded industry data.
Tasty: The boost has come well ahead of the usual Christmas peak for M&S when shoppers traditionally ‘trade up’ for better quality food
The shift suggests that consumers – desperate not to miss out after last year’s festive debacle – are splashing out on treats and Christmas supplies much earlier than usual.
After reducing the prices on many of its basic ranges to attract more families, M&S is also promoting ‘affordable luxury’ items this year. For example, it plans to extend its range of ‘Snow Globe’ liqueurs.
In addition, it will also be offering festive shoppers more than 400,000 boxes of Magic & Sparkle Light-Up Chocolates.
The surprise lead over its rivals follows a confident presentation to the City earlier this month covering food and clothing categories.
Food executive George Wright said customers had definitely noticed M&S’s better price positioning.
‘The reason people didn’t shop with us was because they thought we were too expensive,’ he said. ‘Over the last two years our value perception has moved faster than any other grocer.’