M&S invests in online business

The British online retail market is one of the most lucrative in the world and Marks & Spencer is hoping to increase its online trading business.

Despite the recession, with many retailers holding back on expansion plans and upgrades, Marks & Spencer is reportedly investing 400 million pounds on its web projects.

Firstly the high street conglomerate is to relaunch its eshop, offering free wifi in stores and outfitting store staff with iPads.

In the financial year ending April 2012, all of M&S’ non-store sales, including web, mobile, phone and catalogue sales, reached 559 million pounds up 18% year over year.

The new site, set to launch in 2014, is costing the retailer 150 million pounds.