Marks & Spencer commits to 'delivering value' by slashing clothing prices
Despite feeling the pressures from looming National Insurance hikes, Marks & Spencer is committing to "delivering trusted value and everyday low prices" by dropping clothing prices by up to 20%.
As many retailers look to raise prices to cover extra National Insurance costs, M&S, which expects wage costs to jump by £60 million in 2025, has reduced prices by up to 20% on over 100 products from its ‘everyday essentials’ Kidswear range.
Key pieces include its bestselling Cotton Rich Hoodie (£10 formerly £12 for ages 2-6 years and £12 formerly £15 for ages 6-16) as well as a range of Sweatshirts, Leggings and T-Shirts, which now start from £5.50.
However, M&S has assured that these price slices will not compromise on its quality or sourcing standards. All cotton in M&S clothing continues to be sourced through Better Cotton, organic- or recycled-certified.
M&S Kidswear is designed to be durable to enable it to be hand-me-down quality or recycled through the M&S Plan A ‘Another life’ clothes recycling scheme.
Alexandra Dimitriu, Kidswear Director, Clothing & Home said: "Now more than ever, customers are looking for trusted value. When it comes to clothing, we know value is more than just the product’s price – they also want confidence that it is made well and made to last and offers versatility.
"As more families choose to shop with us, we’ve focused on investing in the price and quality of our Kidswear to ensure our customers get the first price, right price."
Marks & Spencer continues to invest significantly in product style, fit and fabrics, replacing core fibres with preferred alternatives.
Earlier this month, Marks & Spencer’s revealed sales surged 5.6% during the Christmas period, boosted by a strong performance in food and a more modest uptick across fashion, beauty and home.
CEO Stuart Machin said: "In Clothing, Home & Beauty our focus on style, quality and value saw us grow sales and take market share in a declining market, with womenswear and menswear performing well."
