ASOS continues to outperform, its clever trading has resulted in 37% revenue increase in the four months to December, 2013 and sales advanced by 33% as a result of investment in pricing architecture. Having used EDITED over 12 months, ASOS have now given more than 200 of their staff everyday access over the web.
In 2014, buyers and merchandisers hold the key to increasing profit, market share and value inside fashion businesses. With the introduction of globalisation, the breakdown in traditional fashion seasonality and the internet, new competitors, brands and trends can emerge from anywhere and blindside a traditional buying and merchandising approach. That’s why retailers are turning to EDITED, the inventors of real time data technology for buying and merchandising teams, to help them understand and optimise for demand, trends, products, price architecture, and regional differences. Basing decisions on data and facts means that retailers can confidently price products and buy into the trends their consumers want and reduce poorly bought stock, which would have otherwise ended up discounted or in disposal.
Maria Hollins, ASOS Retail Director said, “At ASOS, being first for fashion means always being competitive and having just the right assortment. We’re using EDITED every day to help us make critical buying and trading decisions”.
Rosalind Moralee, a Retail Systems Trainer at ASOS, added, “With new competitors joining the online arena every day it’s getting more challenging than ever to make sure we have the right product, at the right price at the right time. EDITED does a lot of the hard work for us and means we can get the latest information on multiple competitors with just a few clicks.”
Success in the massively competitive fashion business needs accurate and on-time market information.
Julia Fowler, EDITED co-founder, said, “ASOS is a perfect example of how to make the most out of realtime data. It not only helps them understand ever-changing demand, but they can now significantly reduce wastage by making less mistakes in pricing and assortment, and therefore maintaining and accelerating their growth and overseas expansion”.
With data, and innovative products like EDITED, ASOS are on track to perfect the art of retail using science.
Anthony Benham, Business Change Manager at ASOS, said, “In today’s fast paced environment, buyers and merchandisers are under pressure to know every datapoint that affects their world, but can’t possibly have time to do it all themselves. Critical decisions around pricing, assortment and discounting, and keeping an eye on what’s going on across markets is a full time job. EDITED lightens the workload for these people by letting them do all of that without having to travel.”
With apparel retail measurement becoming an integral part of how the most successful brands approach their commercial decisions, EDITED unlocks a unique ability for an entire company of multiple branded teams to collaborate and achieve world class performance.
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