M&S launches Family Matters Index
British retailer Marks & Spencer has launched a new quarterly index on family issues with the aim of providing relevant products and services for families.
The study, conducted by Yonder Consulting, is designed to determine “what family means today, why family matters and what matters to families now.”
Victoria McKenzie-Gould, Director of Communications at Marks & Spencer, said: “Through the Quarterly Index, we want to stay close to families across the UK so we can deliver on our Trusted Value Promise on Things. that matter most to them. “
The first quarterly report found that a majority (55%) think family is defined more by who you feel close to than by biology.
Around eight in ten people (79%) in the UK said family is more important than ever.
The first benchmark study combines qualitative and quantitative research with over 10,000 respondents from across the UK.
Family affairs index
The initial study will provide a baseline for future reporting with the first index score.
The retailer hopes the inaugural study will capture a unique time in history, revealing what families are feeling as they exit the pandemic.
The ratio is calculated based on responses to a combination of detailed questions exploring their happiness, optimism, financial security, and the strength, health and resilience of what they see as their family unit.
The score of 55 out of 100 for the first report demonstrates a nation that is cautiously optimistic about family prospects for the future as the pandemic emerges, the retailer noted.
Two-thirds of those polled pledged to engage in more activities together as a family after the pandemic.
The environment emerged as a major concern, with six in ten respondents expressing concern about how environmental damage will affect future generations.
Marks & Spencer serves around 30 million customers and employs over 70,000 people across the UK.
The next index and report on family matters will be released in September 2021, the retailer added.
The company is also transforming its product and service offering to facilitate the digital shopping and payment experience for customers.
© 2021 European supermarket magazine. Article by Conor Farrelly. For more information on retail, click here. Click on subscribe register for ESM: European Magazine of Supermarkets.