8 Jan 2016
Marc Bolland’s departure from M&S leaves behind an omnichannel legacy
Marc Bolland’s announcement yesterday has certainly generated some negative press towards the departing CEO of a UK institution that remains one of the country’s biggest and diverse retailers. With many offering “sage” advice to the perceived problems which contributed to a dip in the share price following a full day’s trading, let’s not forget that where other big retailers have spectacularly failed over the last six years, Mr Bolland and the M&S team haven’t done so bad.
Whilst GM (General Merchandise) sales may be down 5.8% in the last quarter and across the year, Mr Bolland did what he set out to achieve six years ago; to a save the retailer which had no digital strategy.
This included three core objectives: food, infrastructure and online presence for the retailer. Each and every objective has been completed and exceeded with M&S food up 3.7% despite not being a grocer in the traditional sense or having an online home delivery food service which helps to bolster trading.
The omnichannel experience is exemplified with click and collect accounting for an impressive 62% of online orders, revealed by Bolland himself on the BBC Radio 4 Today Programme, a statistic which is far higher than many rivals. It accounted for only 17.7% of the industry’s orders in 2014 and is forecasted to rise by 20% in 2015, far below what M&S has managed to actually achieve in 2015.