Retail Sales Of Chin Marketing Essay
ASOS has been doing vigorous growth from 2000 to 2016, which was profitable since 2003 and has 63% compound annual growth rate over the last 5 years. The retail sales of ASOS was just 3.3 million pounds in 2003, then there was a great growth, it has been increasing to 1403.7 which is over 400 times of 2003 in 2016.
ASOS had couple years of slow growth since 2003 to 2006. Maiden profit was gotten in 2003, then ASOS’s first own-label collection landed in 2004. “The business closed for six weeks in December 2005 caused by Buncefield fuel depot explosion” (ASOS, 2016), which influenced the turnover in the fourth quarter of 2005. ASOS showed their resilience when they bounced back after a fuel explosion damaged their only warehouse. ASOS made double retail sales this year, “Buying and merchandising teams double in size, and Big brands like Diesel and Firetrap join asos.com this year.” (AOSO, 2016)
The rapid development of ASOS is benefited by their many internal strengths. They have exclusive and diverse array of brands, and sustains advanced ways to display products to customers and interactive ways to shop, including DIY own style by customers, company designed fashion trends, and the ASOS marketplace. In addition, ASOS offers free delivery as well as free returns to its customer base.
(3.1) Active customers Source： (Asosplc.com, 2016)
“Online shopping worldwide got a huge growth from 2006.” (Chaffey, 2015) ASOS caught hold…