ASOS - statistics & facts
Short for ‘As Seen On Screen’, ASOS is a highly successful online fashion store globally. It stands among the leading online stores in the clothing and footwear segments in the United Kingdom (UK), where the retailer is headquartered. The company also recently expanded, acquiring the brands Topshop, Miss Selfridge, Topman, and HIIT in 2021 following the financial collapse of the British Arcadia Group.
However, the increase in ASOS’s sales came to a halt in 2023. Despite remaining one of the top online fashion stores in the UK, the e-commerce brand suffered a large sales decline throughout the latest financial year. In light of this decline, in November 2023 the company announced that they would be investing a total of 30 million British pounds in brand building in hopes of rebuilding their image and returning to a clear path of growth.
The brand’s online popularity mirrors the high level of brand awareness consumers in the UK have of ASOS. While only 22 percent of British online shoppers reported using the brand in 2023, a large portion of them, 84 percent, had heard of ASOS in some shape or form.
Ultimately, ASOS must continue to leverage their strong market position to the best of their abilities in order to achieve their goals of redeveloping a steadfast brand image, increasing brand usage, and eventually growing in sales once more.
A global player based in the UK
Despite a smaller UK customer base compared to other more populated markets, ASOS generates more retail sales in its home country than in all of the European Union (EU). In 2023, the e-commerce company reported retail sales nearing 1.5 billion British pounds in the UK, while EU countries accounted for about 1.1 billion British pounds. Additionally, since 2014, sales have more than quadrupled in the United States, projecting ASOS beyond European borders.However, the increase in ASOS’s sales came to a halt in 2023. Despite remaining one of the top online fashion stores in the UK, the e-commerce brand suffered a large sales decline throughout the latest financial year. In light of this decline, in November 2023 the company announced that they would be investing a total of 30 million British pounds in brand building in hopes of rebuilding their image and returning to a clear path of growth.
With online popularity comes brand awareness
Although with fluctuations, global visits to the ASOS website have consistently remained in the millions each month. Most of the online audience is based in the UK, where asos.com had the second largest share of voice in 2023. This means that the company’s search visibility overshadows other major fashion brands like Mark and Spencer, Boohoo, and even Amazon.The brand’s online popularity mirrors the high level of brand awareness consumers in the UK have of ASOS. While only 22 percent of British online shoppers reported using the brand in 2023, a large portion of them, 84 percent, had heard of ASOS in some shape or form.
Ultimately, ASOS must continue to leverage their strong market position to the best of their abilities in order to achieve their goals of redeveloping a steadfast brand image, increasing brand usage, and eventually growing in sales once more.
