Tech savvy Asos returns to form after troubled times
Asos’s promising start to its FY2019/20 proves the fast fashion venture’s willingness to invest in innovative tech and adapt to consumer demands, according to GlobalData.
Last year, we reported that profits at the pureplay had plunged, driven by significant tech investment and warehousing issues in Germany and the US. But it is now showing signs of recovering from these issues, with a blockbuster Black Friday along with international sales rising strongly and UK revenue hot on their heels.
Asos has introduced features such as a Responsible filter, allowing shoppers to easily identify products made from recycled or sustainable materials; and See My Fit, an augmented reality tool letting consumers see what a selection of dresses look like on models of different sizes and heights.
Nick Beighton, CEO, comments: “As we said in October, the focus for this year is to further enhance our capabilities and leverage the investments we have made. It is still early in the year and much remains to be done, but we are encouraged by the progress we have made so far. We remain confident in our ability to capture the substantial opportunity ahead of us."