After a record first half, Asos’ celebrations have been momentarily paused as the fashion pureplay tackles the impact of coronavirus on customer traffic and sales.
Asos operates in around 200 markets worldwide, so the etailer has felt the effects of the pandemic on many fronts. However, that also means it is well placed to understand the patterns of demand in a host of locations and what they may reveal about recovery trends, including in the UK.
Over the past three weeks, Asos’ group sales declined by between 20% and 25%. But as the stages of the pandemic develop at differing times and speeds in various regions of the world, the retailer can draw conclusions from improvements beginning to show in some countries.
In Italy, where the virus is thought to be two to three weeks ahead in its development than in the UK, chief executive Nick Beighton says Asos saw a pattern of ”demand shock” immediately after lockdown, as consumers adjusted to the new realities and evaluated their spending priorities. It is Italy that Beighton looks to as he tries to work out how trading trends will play out elsewhere.
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