Data analysts have released a list of the most likely Marks & Spencer stores to close across the county, which includes one in Lincolnshire.
As previously reported, Marks & Spencer announced on Tuesday, November 8, that it will be closing around 30 clothing and home stores across the country, with an additional 45 being transformed into Simply Food stores over the next five years.
The company will continue to open 200 Simple Food stores by the end of 2018/19, including one in Lincoln and one in Skegness.
Local Data Company, based in London, has looked at a variety of factors such as small/mid-size towns that have more than one M&S store and stores that are on the high street vs in retail parks, alongside town health scores which includes:
- Vacancy rates
- Anchor retailers present
- Population per shop
- Dwell time
- Charity shop presence
- Leisure offer
The stores that the data analysis company is predicting are at risk includes Boston, however others around the county, including Lincoln are anticipated to remain open.
No official list has been provided by Marks & Spencer.
In a blog post by the Local Data Company’s Sales and Marketing Director Matthew Hopkinson, he said: “What we do know is that stores are an important part of multichannel retailing and that the presence of stores helps drive online sales.
“So M&S needs to think carefully as to which stores to close with what impact on existing business tempered by the opportunities presented by new locations.
“300 stores is not too many in my view but rationalisation where I see store cannibalisation and relocating to the new retail destinations is key along with of course a multi-channel offer of products or services that is appealing to its customers.
“Relevance by location and demographic will be key to M&S success.”