As typical with the holiday season in UK, the Christmas and pre Christmas sales that were put up to attract the customers employed discounting of products and services. However this time round the products and services where discounted more than 6 percent more than last year (‘M&S hit by poor Christmas Sales’, 2008) which also led to reduced revenues from sales while the mass volumes expected failed to emerge in the UK retail market. The online shopping portal for the Marks & Spencer Company however reported a considerable increase in its turnover and sales. “Website sales were particularly healthy, up 78%, and, in contrast to its poor results at home, M&S’s international sales rose 15.1%. “(‘M&S hit by poor Christmas Sales’, 2008)
The performance of a large retailer that dominates the market like the Marks & Spencer can affect the performance of the other retailers in the industry as well. This stood true in the Christmas season performance for 2008 as well where the including Marks & Spencer almost all retailers reported significantly low level of sales and revenue form stores as opposed to previous years. “”We are concerned that this soft performance has been delivered despite huge cash investment in the stores (70 percent were refurbished in time for Christmas), a considerable advertising campaign and strong trading momentum over the last two years,” Wade said.” (‘Marks & Spencer has holiday sales slump’, 2008)
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