Sales Improve for Online Fashion Retailer
13 August 2020 - 16:21 by Paul Tissington
Although clothing sales took a serious hit over the course of the coronavirus lockdown, e-commerce fashion brand ASOS has announced forecasts which suggest it will have enjoyed a significant boost to its revenues over the course of 2020.
Internet Retailing reports that it has already enjoyed at least a 17 per cent rise, with profits predicted to be anywhere up to £150 million.
The firm revealed that demand for its products sold via safe shopping online had been greater than expected, giving it the edge over competitors that were rooted in the high street and thus less well adapted to cope with the challenges thrown up by the pandemic.
Although this is all good news, ASOS also warned that it thought it would see a spike in customer returns in the coming weeks, with shoppers now feeling more content with the concept of sending back the items that they had ordered but decided against keeping.
One of the other reasons that the firm was able to thrive during lockdown is that although clothing sales in certain categories fell, there was a notable rise in the number of people splashing out on active wear. Working out at home and taking advantage of the allotted outdoor exercise time clearly became a priority for plenty of British consumers, and ASOS was there to help them fulfil their fitness goals.
Seven million British customers took advantage of ASOS’s website to place orders during June this year, equating to a significant slice of its 23-million-strong global base of users. This represents another year-on-year increase, which has helped to bolster the brand’s performance in spite of the tricky operating conditions that even online retailers have had to navigate recently.
The coming months of the year should prove just as fruitful if the current projections are accurate, according to a statement from the firm.