One of the hottest places for Millenials to shop is Asos. The UK e-commerce retailer has been in business for nearly two decades. If you haven't heard about it yet, it's okay because the British fashion retailer has not yet made a US invasion, but it's planning to do just that. Don't feel bad if you're not sure exactly what Asos is all about. They sell clothing but so much more so here are 20 things you didn't know about Asos that will bring you up to speed before they arrive.
1. The name of the retailer is actually an acronym
The name Asos has a real meaning. The letters in the name of the popular retailer actually stand for "as seen on screen." Now that you know, you can pass it on to others. If you're not familiar with Asos or its story then it's important to point out that the name is associated with the platform that the British e-commerce store operates under as well as what it's good at. Asos locates popular fashions that are seen in film and on TV and it brings them from the screen onto their website where you can purchase them, hence the meaning of the acronym.
2. Asos is still evolving
Although the company has been in business for almost 18 years, it is still changing and evolving. This is a good sign that they will continue to grow in popularity and success as a business. They are highly adaptable and are good at discovering niche markets. They currently have 85,000 products offered and the 16 million global customers should give you the confidence in knowing that they're doing something very right to attract and keep customers. Yes, they're an online retailer and it can be scary to place that first order but they're committed to serving their customers and the retailer continues to grow and evolve to give people what they really want. A good example of this is the new line of beauty and skincare products that they've launched.
3. They're coming to the US
There is a growing interest in Asos within the USA. It is because of this that the company has decided to set up a new fulfillment center in Atlanta, Georgia. This is a big step for the company to make. They've been selling internationally and shipping merchandise out from their UK based operations. Setting up shop in America will help to ensure that US customers will get the merchandise that they order within 2 days instead of the extra time that it takes for international shipping from the UK. It's worth noting that the new facility will occupy a million square feet of space.
4. They're conscientious about the small details
It wasn't long after Asos made a large expansion to sell products that may not necessarily fall into the category of being seen on TV. This presented a bit of a moral dilemma for the team who pays close attention to every detail. They intend to remain 100% honest in their dealings with their customers. This spurred them to consider officially changing the registered name of the company to Asos Limited. This small but significant change would make it known that there would be extra items that did not fit the criteria of "as seen on screen."
5. They sell the same products in the US EU and UK consistently
Most international retailers develop product lines that are specific to the country they're selling in but this isn't the case with Asos. They sell the same product lines to everyone equally. They don't differentiate by attempting to guess which markets would be more prone to buying a specific brand or model in certain geographic regions. This is a part of their amazing appeal and is no doubt why they are so successful.
6. Their top market only accounts for a small portion of sales
This may sound a bit oxymoronic, but the US is one of Asos' top markets. Even though they only account for twelve percent of the total sales, they do happen to be one of the largest growing markets currently. The current quarterly growth in sales for the American market is 40% which is remarkable and shows great promise for the future.
7. Their strategic planning is excellent, but a non-target audience is surging ahead
Asos is geared towards the twenty-something audience and it's hitting the mark in grand style. In a pleasant surprise, statistics show that thirty percent of the sales are being generated by shoppers that are age 30 and over. This is good news and it tells us that they've gone beyond their own expectations in attracting an even wider customer base.
8. The 2017 Holiday shopping season made them the greatest success
Global Data tracked the statistics for Asos for the 2017 holiday shopping season. The annual sales for the company is up to almost two billion in British pounds sterling. They're in a highly profitable phase and the past holiday season elevated them to one of the most successful brands in the world.
9. Asos has offices all over the world
In order to serve their growing international customer base, over the past 13 years, the company has established offices in several different countries. The United States Atlanta base will not be their first expansion into foreign territory. Prior to this, they set up an office in Sydney Australia as their first non-UK site. They offer online stores for Italy, Spain, Russia, China, and Germany, but the US fulfillment center will be their second out of the country venue.
10. Americans will soon experience more benefits from shopping with Asos
After the Atlanta fulfillment center is up and running, American shoppers will have the benefits of two-day shipping. They won't need to wait for packages to arrive but they will also dodge the cost of international shipping fees. It's expected that this will boost US sales stats even higher than they are now.
11. Asos sells 850 brands
Asos can fairly be labeled as an online retail giant. They offer their own brand as well as 850 third-party brands. They're consistently adding new product categories and their expansion continues at a rapid pace. They're a phenomenal company and it will be interesting to see where they are one year from now.
12. Asos' success depends on technology for growth
This may seem obvious, but there are a lot of people who don't stop to think about how much Asos depends on technology for the success of their business. They pride themselves in offering products people are interested in but it has to be offered on platforms that make their website easy to access, navigate and order from. This stakes an astronomical amount of work and continuous updates to their technology infrastructure. They depend on state of the art programming and optimization for all formats to please a generation of customers who are tech-savvy and demand a flawless execution of the service.
13. Asos is heavy geared for mobile shoppers but they'll evolve to meet customer expectations
Younger shoppers, in general, prefer to shop via mobile apps. In response to this demand from their target marketing group, Asos leans heavily toward this format. This means that they put a lot of effort and company resources into maintaining and updating their mobile shopping app that keeps the website fully optimized for the platform. For Asos, it's a matter of necessity if they want to continue to attract and keep their target group of shoppers. They've also made the commitment to change with the times and when a more popular tech platform emerges, they'll evolve along with the times.
14. Two British guys started Asos in 1999
Here's a fun fact that most Asos shoppers are not aware of. The company was actually launched in 1999 and the founders are two regular guys from Britain who had a good idea. They thought it would be cool to start a business that tracked current trends and offered the styles that were trending and worn by celebs on tv. Quentin Griffiths and Nick Robertson were just two ordinary guys and they had to idea that their idea would become such a giant in the retail industry. This just goes to show you that good things can happen to regular people.
15. There is a right way to pronounce Asos
There has been an ongoing debate about how the brand's name is pronounced. An initial glance would lead most people to believe that it would be pronounced "Ay Sos, well if you're American anyway. This is totally incorrect. We've learned that there is a right and a wrong way to say the name properly. In a final settling of the debate, the correct pronunciation of the name of the brand is Ay-sauce. Who would have guessed?
16. Asos supports breast cancer awareness
Asos is a company that values its customers and they are committed to doing their part in supporting worthy charity causes. They are heavily involved with the Coppa Feel project to raises awareness of breast cancer and joined the campaign to lend their support in 2015. Since this time, Asos makes sure that every bra that they sell in the UK comes with a label that reminds women that it's important to self-examine.
17. They're partners with the British Paralympic Association
Asos became involved with the British Paralympic Association in 2015. This organization sponsors paraplegic athletes in their endeavors to participate in a special category of Olympic events. Asos understands the importance of sponsorships for athletes so they look their very best when presenting themselves in competition. Asos not only sponsored the participants, but they also designed the formal attire for them as well. This was a tremendous contribution to the brave group of athletes who are moving forward to showcase their abilities. This shows how committed the brand truly is in giving back to their community and doing their part to make the world a better place for everyone. Athletes sported the new looks supplied by Asos at the Rio 2016 Olympic Games events and ceremonies.
18. Asos operates under three impressive initiatives
The principles by which the Asos brand operates are something that everyone who conducts business with them needs to be aware of. They are simple yet impactful for the entire planet. The first initiative is ethical trading. This means maintaining a transparent business and procedural plan and fair dealings with all stakeholders including investors, third party brand and the end users, their customers. They strive to maintain the highest ethics in trading and in their market presence. The second is sustainable sourcing. Asos has the intention of acquiring products that are sourced responsibly from sustainable resources that do not represent an unreplenishable drain on the world's supply of limited resources. Their third initiative is to preserve and maintain the welfare of animals. This directs Asos' sourcing of beauty products that do not involve inhumane testing on animals.
19. Asos has a magazine in print
Shoppers who are not yet aware of this will be thrilled to learn that Asos also publishes a magazine in print form. Online reading is cool, but sometimes it's nice to have a hard copy that you can hold in your hands and that doesn't require the use of technology to access. The circulation volume of their magazine is at 500,000, making it a substantial publication. A variety of celebrities have shown up on the cover and include Taylor Swift, Elizabeth Olsen, Amandla Stenberg, and others.
20. They give students a special discount
Asos is aware of the fact that students are often burdened with the extra expenses of books and tuition. To help defray the costs and reward their efforts for self-improvement, Asos gives them a special discount. All students are given a ten percent discount on the products that they order from the Asos website. This is just one more of the many thoughtful things that Asos does to show their customers that they care. If you haven't previously shopped with Asos and you're a student, make sure that you take advantage of this opportunity to save even more on one of the most up and coming online retailers in the world today.
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Written by Dana Hanson
Read more posts by Dana Hanson