ASOS sales up by a third
12 July 2012 - 11:51Tweet
Major e-commerce outlet, ASOS, has proved that the market for online shopping is more resilient than the wider retail sector, with sales up by 31 per cent over the second quarter of 2012.
ASOS sold £136.9 million in products via safe shopping online during this three month period, which is almost a third more than in the previous quarter, suggesting that consumers are willing to part with cash in spite of the economic turmoil, provided that the price is right.
After announcing its impressive performance, shares in ASOS increased in value by 10 per cent, according to HostWay.
Interestingly, it seems that ASOS is taking advantage of the fact that it is easier to set up shop overseas if you have a web presence, since 65 per cent of its sales during the second quarter were made outside of the UK.
It is growing in popularity in America and £89 million in sales were made overseas, which is a 49 per cent increase in their value.
ASOS CEO, Nick Robertson, said that he was particularly pleased with the figures, given that the rest of the retail market has been looking more than a little rocky in recent months.
Mr Robertson pointed out that ASOS was performing in line with market expectations and saw no sign of its expansion slowing in the near future.
The success of ASOS is no doubt going to be contrasted with high street chain Marks & Spencer, which this week announced that like for like sales had dropped off by 2.8 per cent. This is due to poor performance in its clothing department, with the business being propped up by food sales.
The popularity of safe shopping online and the benefits it brings to both consumers and retailers alike is sure to see continued growth in the industry.
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