Where is Marks and Spencer now compared to other fashion retailers?
Marks and Spencer’s problem stemmed from the failure of the company to understand that the market has changed and that its customers are constantly looking for fashionable clothes. Quality and value attributes, which Marks and Spencer built its corporation on are no longer the sole motivators for taking the buying decision. GAP, H&M, Top Shop and other stores are called fashion retailers instead of clothes retailers. The success of these companies depends on their ability to understand the fashion trends in the society as well as delivering their clothes in the right time and place and to the right customers. Customers are prepared to pay for fashion but not for quality alone because fashion is temporary and once fashion changed, people will buy new clothes so on average people do not wear clothes for more than one season, that is why quality is not an issue any more. Fashion retailers do not respond to fashion trends but they also create fashion by sponsoring celebrity stars and havin
