Asos loyalty scheme to put focus on engagement as well as purchases. The ‘Rewards’ scheme, which was trialled last year, will allow customers to build up points on purchases that are converted into vouchers for use on the site.
The scheme will also reward customer engagement, according to CEO Nick Beighton. If a customer, for example, posts a photograph of themselves on Instagram in an Asos outfit with the #asseenonme hashtag they will earn points. Speaking on a conference call this morning following the retailer’s full-year results, Beighton said the move is part of plans to “be awesome on mobile” and “create content so useful it feels like a recommendation from a friend” as Asos looks to boost engagement and therefore sales. “Engaging content and experiences generates sustainable organic growth,” he explained.
The move is part of a strategy at Asos that has seen it “re-evaluate everything it does on mobile” in a bid to improve customer service, traffic and sales. That has helped boost traffic and sales on mobile. Asos to reap Brexit benefits after fall in pound. Asos expects to benefit from the fall in the pound’s value after the UK voted to leave the EU because sterling’s slide has made its clothes cheaper for US and European customers.
The online fashion retailer said that because more than half of its sales come from outside the UK it is protected against a downturn in demand from British consumers. The pound has fallen about 10% since the 23 June referendum. It has plunged to a series of 31-year lows against the dollar, with some economists expecting it to remain low as the economy slows. In the short term, the pound’s fall has been good for some companies that sell goods and services abroad because it gives overseas customers more buying power.
Asos covers most countries in the world and has expanded by launching websites targeted at the US, Germany and other markets. Nick Beighton, Asos’s chief executive, said: “Our sales prices which are denominated off sterling now look cheaper to the US customer and look cheaper to the European customer. 'Desktop is on the decline': 70 percent of online retailer Boohoo's traffic is now mobile. Boohoo, an online retailer for fast, affordable, fashion, has shifted to become mobile-first.
Boohoo’s business is dependent on customers frequently checking in for new product launches. Five hundred new products debut on the site each week, with about 100 pieces available for each. The Boohoo team then responds to what’s selling well by adding more inventory to popular products, and phasing out what doesn’t perform. Its merchandising strategy is reactive: Boohoo relies on Instagram and runway trends in order to take cues for its affordable styles. Lead time from product design to launch is about four to six weeks, according to Carol Kane, CEO of Boohoo.com. To read the rest of this story, please visit Glossy. Advertisement. Chart: How Much Online Shoppers Around the World Are Spending.
Over the past few years, online shopping has become increasingly popular around the world.
In markets such as the United Kingdom, Japan and Germany, e-commerce penetration has already climbed past 70% of the adult population, and emerging markets such as Brazil and China are seeing rapid growth in online shopping adoption. But how much are people around the world actually spending online? According to Statista's Digital Market Outlook, the United States is not only leading in terms of total e-commerce revenue, but also among the countries with the highest revenue per online shopper.
On average, Americans are expected to spend $1,804 online this year, almost double of what Japanese shoppers are spending online. 6 Technology Trends That Will Impact Fashion Industry. You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Fashion Industry has transitioned to becoming digital-centric. Most retailers finally sailed through the first stage in ecommerce retailing by setting up visually appealing online versions of stores, integrating payment gateways and offering efficient delivery logistics. Over the next two years, there are several areas where technology will help ease online discovery and conversions. Technology will make it easy for consumers to go from inspiration to purchase. Customers see a lovely handbag at a party and technology will help them find it. Technology will provide answers for questions like: Can I get real-time guidance on creating outfits from individual items?
Work at the intersection of fashion, science and technology is leading to some very interesting possibilities. Here is what you need to look out for- 1. 2. Product returns are one of the issues online retailers are battling with. 3. 4.