M&S pulls up its pant prices to rule out undies-irables
Marks & Spencer undercrackers have been in the news again, today. Infamously criticised by Newsnight’s Jeremy Paxman last year for lacking support in the gusset, M&S has reacted by lifting its prices by a lunch-box packing 43%.
While the hike won’t offer much support to the public – OK that’s the end of the Sun puns – we reckon it could be a smart move for M&S.
Quality and value are the hallmarks of the M&S brand. With consumers flocking to budget rivals, it looks as if boss Stuart Rose has opted for a ‘reassuringly expensive’ price differentiation.
As retail brands scramble to either extreme of the Primark or Prada spectrum, this could see a u-turn in approach for M&S whose budget range received a lukewarm reception.
Alternatively, it could be that M&S is feeling the impact of a plunging pound and rising inflation in China. If that’s the case, the pants rise could be the first of many as M&S looks to avoid putting the skids under profits and leaving shareholders’ knickers in a twist. (Sorry...)
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