ASOS crowned most reputable fashion retailer

My favourite article I’ve read recently!

Available from: http://www.retailappointment.co.uk/news/rep-trak-name-asos-most-reputable-fashion-retailer?utm_source=NBE&utm_medium=email&utm_campaign=NewsbyEmail

Online fashion retailer ASOS has been crowned most reputable fashion retailer according to a list provided by UK Rep Trak.

The top three on the list also included Laura Ashley and Debenhams, with M&S in fourth place and Next in fifth place.

The Rep Trak works on a company’s ability to deliver on stakeholder expectations in seven key areas, which are products and services, innovation, workplace, governance, citizenship, leadership and performance.
Then the companies are scored from 0-100 based on overall reputation and divided as Excellent (80 and over), Strong (70-79), Average (60-69), Weak (40-59) or Poor (below 40).

Executive partner Kasper UIf Nielsen, at Reputation Institute, said: “It is intriguing that an online-only retailer has achieved a stronger reputation than the old high-street favourites. This not only reflects the shift in shopping habits of the UK general public, but it also underlines the point that you can build a high degree of trust, respect, and admiration without the face to face experience. With only one retailer breaking through the ‘excellent’ barrier, many within the sector need to do more to cement and build upon their reputations.”

The report comes less than 24 hours since Labour candidate Owen Smith called for a parliamentary inquiry into ASOS regarding their working conditions at the Barnsley warehouse.

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Boohoo announces 40% rise in full-year revenue

I’ve found myself more recently looking at Boohoo’s website more often and ordered my first purchase the other day – a khaki bomber. I then received my daily drapers email saying that the etailer’s revenue has increased by 40% to £195.3m. I thought about what they were doing so right and found the article an interesting read. They now have more than 4 million active customers and launched apps for the UK, US and Australia.
Mahmud Kamani and Carol Kane, joint CEOs, commented: “We are pleased to report a year of strong revenue growth across all geographic regions. Active customer numbers, order frequency and conversion have all increased on last year as we continue to invest in building customer lifetime value. By refining the mix of promotional and marketing expenditure in each of our key markets, we have achieved growth ahead of our plans.”
Boohoo have expanded their product range, which has been well received by customers and have added a petite range and plus-size range. These both continue to grow. Their mobile experience has also been enhanced, introducing more flexible delivery and return options and later next day delivery cut off times.

I look forward to seeing how Boohoo continue to strive in the e-tail world and compete against their ever increasing competitors.