"Next could easily have been a real casualty of the digital age but, again, has shown its ability to not only stay relevant but prosper, thanks to its ability to adapt and benefit strategically from online retail. While the fast fashion brands have blazed and faded, Next has nurtured its brand portfolio, online platform and customer base steadily in a real tortoise and hare story."
"Next got a boost from M&S's cyber troubles and better weather over the summer, but M&S is healthy again and is still seeing the fruits from its turnaround efforts over the past few years. The international segment is progressing well, with sales growth getting a good boost from online aggregator platforms - the 'follow the money' strategy is clearly coming into its own."
Next successfully pivoted to online retail, avoiding decline and achieving sustained relevance and growth. The company nurtured its brand portfolio, online platform, and customer base steadily while fast-fashion rivals rose and fell. A temporary boost came from M&S's cyber troubles and favorable summer weather, though M&S has recovered and continues to benefit from prior turnaround efforts. International sales are progressing, with online aggregator platforms driving growth and validating a 'follow the money' approach. UK sales remain important, but a predicted second-half dip highlights the need to strengthen ex-UK operations and close gaps in customer journeys. Rising costs present an ongoing headwind for future sales.
Read at London Business News | Londonlovesbusiness.com
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