What: Marks & Spencer is reevaluating its Sparks loyalty programme following a successful Christmas trading period.

Why it is important: The company’s review of its Sparks loyalty program reflects the evolving landscape of loyalty schemes in the retail industry and their significant impact on consumer engagement and sales.

The CEO, Stuart Machin, expressed the need to reconsider Sparks in the short, medium, and long term, emphasizing a focus on quality, style, and value. Machin dismissed the idea of introducing member pricing via Sparks, highlighting M&S' customers' preference for great products at everyday trusted prices.

M&S CEO says company needs to rethink Sparks loyalty programme