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Online sales help M&S post strong profit increase
Positive online sales have helped Marks & Spencer post a significant increase in half-year profits.Relaunching the M&S website in March of this year "led to a step change in activity with sales up 60 per cent driven by significant improvement in traffic and conversion levels", the company said in a statement.
Profits at the firm rose by 11.5 per cent in the six months to the end of September, and the M&S Direct website helped greatly.
As more and more people opt to shop online, the future is looking rosy for internet marketers. M&S is a good benchmark for the shift towards the online channel because it is an established high street brand that recognises the huge importance of online retail.
In fact, the company has set a target of deriving £500 million worth of sales from the M&S Direct website by 2010.
"We have worked hard on improving and extending the product ranges available to online customers, introducing more fringe sizes, including Big and Tall in menswear, a number of exclusive ranges, such as made-to-measure shirts. In Foods, our wine and gift offers have also been extended," the statement continued.
M&S has 760 stores in more than 30 countries around the world. Back in January, strong online sales helped M&S increase its revenue greatly.
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Corporate Internet news posted on 06 November 2007
