Plan A underpins rise in brand value for Marks & Spencer
Plan A has helped secure Marks & Spencer's position as the second most valuable retail brand in the UK according to an index survey released yesterday (February 21).
The Interbrand 2012 Best Retail Brands report, which ranks the top 10 UK retail brands by brand value, indicated that it was the retailer's sustainability drive that helped deliver a strong performance for the company last year.
M&S saw an increase in sales during 2011 despite challenging market conditions, leading to a 3% increase in its brand value to $6,256m.
The report said of Plan A: "M&S believes that this programme creates value in three ways: cost savings, staff motivation, and brand differentiation".
Speaking exclusively to edie, M&S' head of Plan A delivery Adam Elman said the company was "extremely pleased" to have achieved second place in the brand index and that the survey had identified Plan A as one of the key reasons behind this.
He said: "Plan A is at the heart of our business and something our customers expect from us. Whilst we still have a lot to do, Plan A is delivering clear environmental benefits and has a strong business case."
Under Plan A, M&S is aiming to become the world's most sustainable retailer by 2015 and has announced it is ahead of schedule for meeting the programme's targets.
Top UK slot in the survey went to Tesco with a brand value of $11,011, with Boots third, ASDA fourth and Next fifth.