ASOS announces healthy sales figuresData Insights 7 February 2014
New figures from one of the UK’s largest online retailers has suggested that growth in the sector will not slow anytime soon.
Over the last few years, of course, the online retail industry has eaten into the market share of the traditional high street, which has struggled to survive under the weight of such intense competition.
Increasingly, it seems like consumers are drawn to the idea of shopping online, which means they are not dictated by regular opening and closing times.
What’s more, there is also increased belief in the security that underpins spending money over the internet.
And this trend has been underlined by new sales figures from ASOS, the online retailer, which enjoyed a rise in sales in the last four months of 2013.
Figures show that the company’s sales climbed 38 per cent to £336 million over this period.
Nick Robertson, ASOS chief executive, commented: “We have been benefiting from a structural shift online for ten years. By constantly improving the offer to our fashion-conscious twenty-something customers they are rewarding us with more sales.”
In recognition of the growing popularity of online retail, the firm revealed that it intends to double the size of its distribution centre by the end of 2014.
“With the opportunities we have we think we will continue to grow at these sort of rates,” Mr Robertson added.
Founded 13 years ago, before the real rise of online retail, ASOS’s original ambition was to sell celebrity lookalike fashions – As Seen On Screen.
In a recent report for the BBC, Kate Davies, the statistician for retail sales at the Office for National Statistics, said that the migration towards the online sphere is one of the most compelling stories to come out of retail figures over recent years.