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Recession see shoppers snub M&S as Primark and Asda grow in popularity

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by Kay Mitchell

Marks and Spencer (M&S) is no longer Britain’s most popular fashion retailer.

Shoppers seeking bargains amid the economic downturn means Asda’s George and discount clothing retailer Primark are the nation’s first and second favourite clothes shops.

The budget fashion chains are luring shoppers away from the more expensive retailers and this was highlighted last month after Primark reported a 9% rise in sales. The results came as Marks & Spencer, Next and Sweden’s Hennes & Mauritz (H&M) reported declines amid the recession.

Meanwhile, according to figures from the TNS Worldpanel Fashion show, Asda’s Geroge recorded its highest ever total volume market share for clothes sold at 10.1% in the 12 weeks to August 17.

Primark was a close second with 9.9%, while M&S was third at 9.8%.

Earlier this year, Asda director George Thompson vowed to take the volume market share top spot by 2011. Following this achievement, Mr Thompson said Asda now aims to improve value for money.

Meanwhile, Primark recently announced it was expanding overseas and has opened stores in Ireland, Germany, Portugal, Barcelona and the Netherlands. It is also planning almost a dozen new stores, including a branch in Belgium.

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Story link: Recession see shoppers snub M&S as Primark and Asda grow in popularity

News posted: October 9, 2009

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