Marks and Spencer 2013 Annual Report Download - page 8

Overview Marks and Spencer Group plc Annual report and financial statements 2013 06
International marketplace
GDP continued to grow in our priority
markets of Russia, the Middle East,
India and the Shanghai region of China.
Trading conditions continued to be
challenging across the Eurozone,
particularly in Greece, Spain and
the Republic of Ireland.
We believe most trends are global and
our UK catalogue is the core of our
international offer. Careful editing
ensured that our collections remained
relevant to the slightly younger age profile
of our international customers. We also
responded to a variety of international
demand trends including increasing local
garment sourcing in India. This has
resulted in faster speed to market,
improved margins for us and better
choice and fit for the customer. We also
introduced better phasing of outerwear
in Russia to capture the market earlier in
the season when demand is highest.
Our British heritage and brand values
are key assets for M&S in international
markets. A heightened appetite for all
things ‘British’ was particularly apparent
this year, as global attention focused
on The Queen’s Diamond Jubilee and
the London Olympics. These events
presented us with the ideal opportunities
to showcase the best of M&S and
differentiate ourselves from local
competitors.
As part of our strategy to become an
international multi-channel retailer, we
launched websites in Germany, Spain,
Austria and Belgium, extending our reach
into the some of the fastest growing
online fashion markets in Europe. Making
the most of London’s status as an
international fashion capital, the launch
was themed around showcasing the very
best of ‘London style’ – from our
catwalk-influenced Limited Collection to
the craftsmanship of our Savile Row
Inspired tailoring. M&S’ British heritage
will continue to play a leading role in our
international marketing activity.
How Plan A helps us respond
Plan A – our eco and ethical programme
– sets us apart as a leader in the
marketplace and helps us tackle the
sustainability issues that face all major
retailers.
With key raw materials and natural
resources under increasing pressure, we
continued to develop a more sustainable
supply chain, focusing on areas such as
cotton and sustainable fishing. Our
long-established strict sourcing
standards meant M&S did not need to
withdraw any products as a result of the
supply chain issues.
In a challenging economic environment,
Plan A also helps us to run a more
efficient business, through reducing
waste and energy use. We continued to
share our experiences with suppliers –
enabling them to reduce their own
manufacturing costs and create a more
sustainable future.
This year we launched new ways to
engage our customers in Plan A, with
exciting initiatives such as Shwopping
and our Big Beach Clean-Up.
Marketplace continued
Plan A participation
This year we continued to extend our
influence beyond M&S. More customers
than ever took part in a variety of Plan A
activities.
Highlighting our credentials
The M&S brand is synonymous with British
style. Our Golden Bell store in Shanghai
carried a range of exclusive products that
showcased our UK heritage.
Customers are pragmatic about the
future, realising that economic
recovery is still some way off.
However, they are gaining increasing
confidence, thanks to their ability to
manage through these difficult times
and remain focused on spending
wisely and well with retailers they trust.
Looking ahead