THIS IS NOT JUST VALUE, THIS IS RE-MARKS-ABLE VALUE EVERY DAY
From tomorrow (13 November 2019), M&S Food is launching Re-Marks-able Value – a new way of talking about its great value everyday prices, with a promise to never compromise its unrivalled quality and sourcing standards.
Re-Marks-able will be used across everything from shelf edge ticketing through to social media and is designed to draw customers’ attention to the fantastic value M&S Food offers across its range - such as six British Free Range Eggs at 90p to £1.50 Select Farm Royal Gala Apple bags. To qualify as Re-Marks-able value, each featured product or range has been price benchmarked against key competitors and must also uphold M&S’ quality point of difference, such as its longstanding Milk Pledge promise to pay dairy farmers a fair price through to its Select Farm sourcing, which guarantees all M&S fresh food comes from farmers it knows and trusts to meet its high animal welfare and environmental protection standards.
The launch of Re-Marks-able follows M&S’s significant investment in value. In the last year, M&S Food has lowered prices on over 500 popular lines and in recent months, the retailer has focussed its price reductions on the staple products families shop most frequently, such as its Vitamin D enriched bread (reduced from £1.15 to 65p), RSPCA assured milk (reduced from £ 1.29 to £1.15p for 4pt), and its Oakham Medium Whole Chicken (reduced from £4.50 to £3.50).
M&S Food has a far-reaching transformation plan that aims to broaden its appeal to more families across the UK. Delivering great everyday value, whilst retaining M&S’s trusted quality, is a crucial pillar of its strategy to become more relevant, more often. Re-Marks-able is designed to tackle customer views on M&S value, where price perception is often higher than reality.1 Through Re-Marks-able, M&S aims to create one clear and consistent value message for customers to help build trust and remind them that they can get Re-Marks-able Value at M&S, Every Day.
Stuart Machin, Managing Director of M&S Food, said: “Re-Marks-able is part of our plan to debunk the myths about our prices, as we know customers’ perception doesn’t always match the reality. M&S Food is changing fast and our value is increasingly competitive, especially on the everyday products families shop most often. But as we change, we’re protecting the things customers love about M&S and that means never compromising our outstanding quality or sourcing standards, because it’s those features that make M&S value Re-Marks-able.”
The Re-Marks-able launch activity will span digital content, social media and print advertising, with a major focus on in-store activation across the retailer’s 564 wholly owned Food and full-line stores. This will include the creation of 13 Re-Marks-able hot spots in-store to really highlight the stand-out value in key categories such as Salmon through to everyday staples such as Bread and Pasta. The distinctive logo (see image above) will be used on point of sale and ticketing for all Re-Marks-able products and ranges.
A Re-Marks-able basket
Great Every Day Price
Sustainably sourced two pack of Scottish Salmon fillets – rich in Omega 3.
Vitamin D enriched Super Soft White Loaf (800g) – helping customers add more of this important vitamin to their diet.
Select Farm Royal Gala Apple multi bag – grown by British farmers and left on the tree a little longer for extra sweetness and crunch.
Select Farm British Free Range Eggs (box of six) – M&S was the first major retailer to adopt a 100% free-range approach for whole and ingredient egg.
Authentic Italian Made Pasta (500g) – made and air dried in the Italian Alps using select Italian wheat to give a rough texture that picks up every drop of sauce.
M&S Oakham Medium Whole Chicken – reared by farmers we know and trust to leading Oakham standards, which ensure birds 20% more space.
RSPCA Assured British Milk (4pt) – supported by M&S Milk pledge to pay dairy farmers a leading and transparent price.
Delivering trusted value forms a key strand of M&S Food transformation strategy to protect the magic and modernise the rest – as it looks to build relevancy with families and grow market share in medium and larger baskets – particularly in fresh and ambient categories. The retailer’s c.£100m investment in better every day pricing has been substantially offset though the removal of complex and often confusing promotions, as well its wider lowering costs of good (COGS) programme. This programme has a target to take out at least £200m from its COGS by 2023, without impacting M&S quality standards, and has over 800 separate projects spanning all areas from packaging specification, manufacturing efficiencies through to a more commercial approach to raw material buying.
Stuart Machin continued: “We need to tackle price perception to take advantage of market share opportunities and our lowering costs of goods programme is a critical enabler to our investment in trusted value, as well as driving profitable growth. M&S is changing to operate with more efficient and commercial operations and become a lower cost to serve business. However, we are retaining the things that make M&S Food special - as delivering our exceptional product quality at even better value creates a differentiated and compelling proposition.”
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For more information or images contact:
M&S External Communications
0208 718 1919
Notes to editors
- Value perception is key to increasing share: the actual is much better than the reality as graph below demonstrates.