In a report circulated to investors this week, analysts at Citigroup claim the advertising and in-store ethical campaign, launched in January, is the most positive the company has yet run, based on brand perception.
Created by ad agency Rainey Kelly Campbell Roalfe/Y&R, the ads were designed to promote the ethics of the brand, rather than any individual product. The copy highlights aspects such as the reduced salt in its foods and the toxic-free dyes used in its clothing ranges.
The report pointed out that while one campaign can not be held responsible for the whole story of the company's recovery, the campaign had a significantly positive response in its twice-yearly brand awareness surveys.
The report said: "Given the evidence of rising consumer interest in ethical and sustainbility issues, and M&S's sector leadership in this area, we believe the campaign may give some insights as to why sales are doing so well and where the company's product proposition may be heading in the longer term."
The company's fortunes are certainly on the increase. In like-for-like sales, its foods range is up 5.8% on last quarter, with overall sales up by 10.5%.
Citigroup said M&S has increased the pressure on competitors to demonstrate their efforts to appear more ethical, in their products and their advertising. M&S, Oasis and Topshop have all launched fair-trade ranges this year.
Market research conducted in January by YouGov for M&S said that 78% of consumers would like to know more about the way clothes are made and the conditions for those involved in clothing production. GM foods and the reduction of salt were also identified as issues that had the biggest influence and caused consumers most concern.
The campaign continues to run alongside Rainey Kelly's other M&S campaigns, "Twiggy" featuring the 60s model promoting women's clothing, and "Your M&S" campaign promoting its food ranges.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .