M&S reveals ‘incredible opportunities’ in energy sector
Monday 21st March 2011
Did you know that green products make
up 10% of giant retail group Kingfisher’s annual turnover? This was just one
interesting statistic I picked up from a recent
article in The Telegraph, which pointed out, with plenty of proof points, how
the market for greener, low-carbon products is growing.
According to the article, the smartest
businesses are not only selling green products, but are also looking at new
business models that can create competitive advantage and business revenues.
Take M&S as a case in point: the
retailer has already established an energy services business with M&S
Energy, but the article reveals it is also looking at ‘some incredible
opportunities for M&S in terms of new income streams’.
And the source of these new revenue
opportunities lies in the fact that ‘consumers are going to have to green their
homes’. Can we expect the blue chip retailer to introduce energy monitoring and
management services before too long?
Interestingly, as it moves into the
energy market, M&S sees the main challenge is coming not from
the existing energy utilities, but from ‘the likes of Waitrose and Sainsbury’s’
and ‘big beasts like Pepsico and Unilever’.
the most confident utilities should not be complacent when retailers are making
inroads into their heartland. As Mike
Barry, M&S’s head of sustainable business, puts it: “There’s also a degree
of market positioning going on in terms of new partnerships with innovative
green providers. If we don’t team up with them, competitors will snap them up.”
there is a real opportunity for retailers and other service providers to seize
the market for energy management and monitoring in UK households. By empowering
households to make better energy choices through intuitive technology and
detailed information displays on consumption patterns, these companies can
ensure households can better manage
appliances devices, reduce utility costs and minimise environmental impact.
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