Value for money is the most important factor for families when choosing where to buy their groceries; as M&S aims to double the size of its Food business, it is investing more in its value lines.
The M&S Remarksable Value range continues to grow with more products that are more relevant to families. For example, M&S Beef Mince 5% was added into the range last week, with its price reducing from £6.75 to £5.20. This is the same high-quality M&S beef sourced from British select farms with 100% traceability. Sales of the mince were up 80% since bringing the product into Remarksable Value.
Remarksable Value is about offering M&S quality at a trusted low price, without compromising on the industry-leading sourcing and animal welfare standards customers know and expect. Over 40 products have been added to the range since 2023, including Select Farms Red Cooking Onions, £1.10, Greek Style Yoghurt 0% Fat (500g), £1.15 and Traditional Scottish Oats (1kg), £1.25. These are not new ‘entry level’ ranges that compromise on quality or portion sizes, they are the same high-quality products customers expect from M&S but at a lower price point, enabled by investment in value from the retailer.
Sales of M&S value lines, including Remarksable Value, Dropped & Locked, Bigger Pack, Better Value, are up 20% in Q3, with bestsellers including Loose Bananas, 90p, family size Lasagne (1.5kg), £9.00 and Free-Range Eggs (12), £3.30. The Dropped and Locked range of core shopping trolley essentials points to products where prices have been lowered and locked. The range had 37 new products added in Q3. Bigger Pack Better Value, which appeals to families with larger packs of products like Chopped Italian Tomatoes 4x400g at £1.80 and Penne Pasta 1kg at £1, has double the number of products since 2023. As M&S becomes a shopping list retailer, the range also features family sized packs of household essentials like Luxury Quilted Toilet tissue (9, £4.75).
The investment in value is being well received by families with more now saying they would consider shopping at M&S – placing M&S as the fastest growing major retailer within FMCG amongst families (YoY). Perceptions of value at M&S amongst families has improved by +10%pts in the last 2 years, and families are now more likely than ever to consider shopping at M&S Food.
Kara Greatorex, Chief Commercial Officer at M&S Food, said: “For M&S, becoming a shopping list retailer is about offering core ingredients and products at the right price without compromising on quality. Over the last few years, we have improved the Remarksable Value range by lowering the price of core shopping trolley essentials, whilst retaining the quality and sourcing credentials M&S is known for. Families are now more likely than ever to come to M&S Food for trusted value and to help them when they shop with us, there are now over 250 products across M&S Food’s three value ranges, Remarksable Value, Dropped and Locked and Bigger Pack, Better Value.”
