Fewer shoppers ventured out of their homes this Christmas, with one online retailer, ASOS reaping in the benefits.
The British online retailer has proved that it is bang on trend after it reported a 38% rise in profits in the run-up to Christmas. ASOS’s shares have also almost trebled over the last year, making it now worth £5.8 billion.
ASOS, standing for As Seen On Screen, said that the first week in December was their strongest with shoppers stocking up on glamorous outfits and party dresses for the festive season. We at Fashion North were definitely among them!
The shift in consumer spending from the High Street to online is clearly reflected in ASOS’ excellent results, but the firm also said that it benefited from recent attempting to improve its service, having introduced free delivery and returns and an extended 9pm cut off for next day delivery in the UK.
ASOS has well and truly been the success story in British retail over the past few years and with celebrity fans including Rita Ora and Michelle Obama, it looks like the company will continue to go from strength to strength.
Here at Fashion North, we are huge fans of ASOS and we love the customer interaction that comes with the site, but we still enjoy a good shopping trip to our Favourite High street or indoor shopping centre. Do you prefer to shop High Street or online?
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