Saturday, May 23, 2009

M&S Penny Bazaar.

During the week, British retail giant Marks and Spencer celebrated their 125th anniversary by launching a 3-day 'Penny Bazaar' in all of its stores.

M&S started as a simple Victorian marketstall in Leeds, and Sir Stuart Rose - ever conscious of the company's heritage - decided to launch the event where a number of items would be on sale for just one penny each. Items included cuff links, mugs, pants and purses. 

On average, 60 items were sold per second with a many stores selling out of the stock in just one hour.

At the flagship store in Marble Arch, many customers had been queuing outside from as early as 5am. My local store saw a queue outside right along the high street. 

Despite the tickets declaring 'When it's gone, it's gone', many customers were left disgruntled at the product on offer and it selling out so fast. I have to say, what did they expect when one of Britain's pricier shops sells items at 1p? Many customers were completely satisfied and what is always noticable about the M&S approach (an additional to Plan A perhaps) was that all money raised was going to charity. Another triumph for Stuart Rose! Of course some people are never happy. 

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