Marks and Spencer has been named the best fashion brand by BNP Paribas.
A survey of 5,000 women in France, Germany, Spain, and the UK commissioned by the French bank showed that a growing number of shoppers have been enticed by the retailer’s offering thanks to affordable prices.
Shoppers were more positive about M&S on factors such as pricing, quality, and style compared to the previous year, according to the Retail Gazette.
The FTSE 250 retailer also benefitted from the demise of high-street peers over the pandemic, such as Debenhams.
Clive Black, a retail analyst at Shore Capital commented: “They have basically worked out what their customers want and what they don’t, so are burrowing in on their core strengths of ladies denim, nightwear and underwear.”
While improvements in these areas have been made, the group still reportedly lags high street giant Next, which is reporting full-year results next Wednesday.
Earlier this week, Marks and Spencer said it will be selling more third-party brands to compete with Next and John Lewis.