ASOS is the United Kingdom's one of largest online-only fashion and Beauty store. The purpose to consider this organisation is to highlight in detail how ASOS using E-commerce Technology captured significant market share and Market Reputation. ASOS has targeted the people of age group 16-34, catering to both genders. I would like to focus how they formulated their E-Commerce strategy and how they have chosen a specific age group to Target their business to.
ASOS has spent lots of money on Research and Developments. I would like to mention here very recent Example of their Advertising campaign in UK. I have seen in many places specially on Bus stops where they are advertising to give chance to every individual to visit their website and upload your picture to participate in street style competition. I would also like to consider how their financial position has been significantly increased and showed positive sign of further progress in this Recovery Economic cycle. They also launched US, French and German specific language website which is another addition to their enhanced performance. I will also focus on their statement of core purpose “ Our core purpose is to inspire and power your fashion discovery; without an internal brand and strong people strategy we would not be able to live up to that promise.”
Scope of the report:
Here, I will discuss how still ASOS is achieving its target and maintaining its consistency in performance. The scope also included to focus on Business to Business(B2B) and Business to Consumer(B2C).The issues to be covered regarding birth of ASOS then how it has been built to reach at this stage, Development in progress, expanding abroad, organising events and their passion for more innovation. The report will also analyse Financial and Non Financial Ratios to reflect their position. Graphical Demonstration is also part of it.
Research of journals and ASOS financial statements shows the following split of its Fashion category:
Women swear Clothing : 56%
Womenswear Non-Clothing : 16%
Menswear : 20%
Beauty/Outlet/Kids : 8%
There is significant growth in International markets, now ASOS is shipping to 167 countries. International sales has been increased by 95% in 2009-2010.In 2004/05, Uk sales was 94% and International sale was 6 %, but in 2009/10, UK sales was 75% and International sales was 25%.It shows how ASOS has expanded all over the world by using its own brands and other existing brands.
Currently, trading result has been issued at ASOS website and CEO, Nick Robertson has reported another successful year including highlights for the 2010/2011, Retails sales has been increased 58% on year (UK +24% and International +144 %).
As Internationaly becoming an increasingly significant part of ASOS future, Nick Robertson pleased to see International sales mix exceed that of the UK for the first time, accounting for 52% of retail sales.
The research finding shows a continuous growth in the financial and Market growth of the Organisation which is due to its strong E-Commerce bases Business Strategies. As ASOS is only online fashion retail store and up to 2010, 3 website in USA, France and Germany in their languages has been launched. It is E-Commerce who makes it not that hard to get access to one of the…