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DownsizingDiva

Even M&s Are Struggling...

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Another poster said today that when the supermarkets show signs of the economic downturn, then that will be proof that there are few green shoots to the "recovery".

Well, although it's not exactly a "supermarket", I was in M&S today, and was told by an assistant that their in-store ordering facility no longer exists "because of the recession - we've had to make cutbacks and can't staff an order desk in store anymore". This may not seem much, but M&S have always prided themselves on their exemplary "customer service" (personally, I always felt it wasn't as good as they made it out to be), and if they are cutting back like this, it speaks volumes.

Perhaps they should change their slogan from "More than" to "Less than"...

Also, a relative of mine who is a regional manager for a large national supermarket chain has recently been made redundant, along with a lot of other regional managers in the same company.

Green shoots? I don't think so.

Edited by DownsizingDiva

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Another poster said today that when the supermarkets show signs of the economic downturn, then that will be proof that there are few green shoots to the "recovery".

Well, although it's not exactly a "supermarket", I was in M&S today, and was told by an assistant that their in-store ordering facility no longer exists "because of the recession - we've had to make cutbacks and can't staff an order desk in store anymore". This may not seem much, but M&S have always prided themselves on their exemplary "customer service" (personally, I always felt it wasn't as good as they made it out to be), and if they are cutting back like this, it speaks volumes.

Perhaps they should change their slogan from "More than" to "Less than"...

Also, a relative of mine who is a regional manager for a large national supermarket chain has recently been made redundant, along with a lot of other regional managers in the same company.

Green shoots? I don't think so.

Thanks for the anecdote. The "Green Shoots" hype was just that.... hype. A feeble and obvious attempt to "talk" our way out of a recession. Unfortunately, what's true is true, no matter how hard you try to hide from it.

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My local M&S appears to be having much less stock in the food halls - as if they are at least a delivery less per week. Used to be that Mon and Tues the shelves were more or less empty, although they would deny this whilst standing next to a shelf empty of bread or packed meals, but now even being in there on a Saturday and it is as if they have not bothered restocking.

Also, something I have never seen before in any M&S - goods with reduced price stickers on them on the day when the 'use by' date is up. Didn't even see that in the 1980s recession.

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My local M&S appears to be having much less stock in the food halls - as if they are at least a delivery less per week. Used to be that Mon and Tues the shelves were more or less empty, although they would deny this whilst standing next to a shelf empty of bread or packed meals, but now even being in there on a Saturday and it is as if they have not bothered restocking.

Also, something I have never seen before in any M&S - goods with reduced price stickers on them on the day when the 'use by' date is up. Didn't even see that in the 1980s recession.

Yep, they definitely used to have staff shops where anything even close to the expiry went.

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Yep, they definitely used to have staff shops where anything even close to the expiry went.

I imagine shops like Aldi will do better in a downturn with more people economising?

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I imagine shops like Aldi will do better in a downturn with more people economising?

No, they're doing worse than normal - that's why their UK boss has had to walk the plank.

All down to the media writing articles about what they guess people will do in a recession.

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I thought M&S had'nt been doing that well over the last few years, but I could be wrong.

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No, they're doing worse than normal - that's why their UK boss has had to walk the plank.

All down to the media writing articles about what they guess people will do in a recession.

Oh! People still need to eat even in a downturn.... I thought maybe people would turn away from Tesco and hit the likes of Aldi instead... maybe people are eating less....

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My gut feeling is that M&S will come out of this recession better than others. I know their share price has fallen dramatically from the peaks of a couple of years ago when the media were totally in love with Stuart Rose, but fundementally it is a better place to shop than it was 6 years ago, and it does now stock stuff you want to buy...food, clothing (quality and relatively budget) and homewares.

Only a gut feeling but there you go. I'd rather buy M&S shares (that have proved that they can go up dramatically (and down)... than Tesco shares that seem to have traded in a narrow band since 2004.

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