Marks and Spencer Group PLC (LSE:MKS) hailed the recent growth of its digital business, as it set a target for half of its clothing and homeware sales to be online in future compared to 33% now.
This acceleration will be driven by technical aspects such as faster load times and fewer links, while AI will be used to write 80% of product descriptions.
Announced alongside its designs for the next season of clothing ranges, the FTSE 100 group said it was the “beginnings of a new M&S”.
Richard Price, clothing and home managing director said developing its app, online personalisation and its Sparks loyalty programme would maintain its recent resurgent sales momentum.
“We are over two years into our programme for growth and we can really start to see the beginnings of a new M&S.
“Online sales are growing ahead of the market and ahead of stores. It’s driven by better product and much more effective branded social marketing.
“We continue to grow our style perceptions and are getting stronger from a value and quality perception as well.”
M&S boss Stuart Machin said recently that it was in its best financial health since 1997.
Stephen Langford, M&S’s director of online and omnichannel, added the group was now spending as much on social platforms as it is on TV.
Social media content spending was up 80% including campaigns on TikTok and YouTube, with more sales to younger Gen Z customers seen as part of its sales boom.
The clothing and home business saw sales grow by 5.2% in the year to March, helping to support a 58% rise in profits.
Price added its market share of the women’s clothing sector at its highest level for nine years.
Anna Braithwaite, M&S clothing and home marketing director said: “Our autumn campaign is all about embracing Big Autumn Energy and channelling a larger-than-life you, ready to take on the new season with confidence and style.”
Shares rose 1.2% to 348.9p, a five-year high.