Marks & Spencer to Cut Around 7,000 Jobs

The video discusses the long-term challenges faced by the retail sector, particularly M&S, due to structural changes and the pandemic. It highlights the impact of the ending government support schemes on job cuts and the shift in consumer behavior towards online shopping. M&S is accelerating its transformation strategy, focusing on online sales and reducing physical stores. The video also covers the performance of M&S's food and clothing divisions and the broader future trends in retail.

What is one of the main reasons for the challenges faced by High Street retailers like M&S?

• Increased competition from local markets

• The end of the government job support scheme

• Rising costs of raw materials

• Expansion into international markets

How is M&S attempting to appeal to a younger demographic?

• By launching a new clothing line

• By reducing prices significantly

• By focusing on online shopping

• By opening more physical stores

Which division of M&S has shown resilience during the pandemic?

• Electronics

• Furniture

• Clothing and Home

• Food

What structural change is M&S implementing in response to the shift in consumer behavior?

• Expanding into new international markets

• Focusing more on home delivery and online shopping

• Increasing the number of physical stores

• Reducing the variety of products offered

What broader trend in British retail has been accelerated by the pandemic?

• An increase in physical store openings

• A structural shift towards online shopping

• A shift towards more luxury goods

• A focus on local sourcing