Online clothing specialist Asos has seen its shares rocket following strong sales beating analysts’ expectations.
Strong online demand led to total retail sales at Asos rising 31 per cent to £136.9 million in the three months to June 30. The company said its UK performance was “particularly encouraging”, with sales rising by £48 million.
The strong growth represented an eight per cent rise in the UK and a 49 per cent jump in international revenues. Asos said its UK performance was “particularly encouraging” given the current climate, with sales up £48 million. With consumers becoming more price-savvy on dymanic pricing and carrying out competitor price monitoring online, it is not suprising that the clothing specialist is using pricing intelligence to grow sales; it said it had lowered some prices “to reflect the economic challenges” of its customers.
The Debenhams group has launched its first foreign language eCommerce site in Germany.
Department store chain Debenhams has launched a new German website, www.debenhams.de, the first foreign language website for a UK department store. Germany is the second largest eCommerce market in Europe after the UK.
High-speed trading tools – developed for the stock market – are driving price changes on the Amazon website.
UK shoppers are getting record bargains as retailers drastically cut prices to clear their summer stock.
High street stores such as Debenhams, French Connection, Marks & Spencer and Warehouse have cut the prices of unsold summer clothing by as much as 70 per cent. The continuing wet weather is keeping customers away from the shops with retailers having to slash prices to clear their stock of summer goods.
With retailers reducing store numbers and investing heavily in their online business, it is imperative that they know exactly what the competition is charging for products.