Marks and Spencer can still reignite the spark, Tryzens
While Marks and Spencer’s current woes can in part be attributed to a challenging retail market, it has been too slow to adapt to changing shopping habits. For Tryzens’ CEO, Andy Burton, a keener focus on a personalised customer experience could help the retailer turn the ship around.
He comments: “Although M&S has – rightly – diversified its product lines to appeal the next generation of shoppers while trying to keep its loyal customer base – it has struggled to completely satisfy either group of customers, with many left unsure what it stands for. With multiple customer segments, it is possible for M&S to appeal to different customers at the same time and win back the loyalty it once inspired in its customers.”
But to do that, it needs to be sharper on customer focus, offering a personalised, tailored experience that is contextually aware and consistent across in-store, online or on mobile devices. For less technologically savvy customers, refreshing the in-store experience will be the essential ingredient for long-term success, but inspiring loyalty amongst the next generation will require a much more engaging and cohesive experience across its digital and physical properties, Burton argues.
M&S has been investing heavily in technology and the launch of its Sparks card has the potential to really drive customer loyalty, Burton believes. However, it doesn’t seem to be leveraging its customer data as effectively as it could to deliver a consistent experience across channels and greater relevancy through personalisation. “By taking this step, M&S can ensure its physical and digital channels are extensions of eachother, which will ensure that it can meet the needs of its increasingly diverse customer base and, ultimately, reignite the spark that made it a High Street staple in the first place,” Burton concludes.
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