Aug 10, 2018 | By Isabelle Coates
Online fashion brand Boohoo is continuing its impressive rise to popularity, having edged closer in consumer consideration to e-commerce forerunner Asos in June.
WGSN Barometer (our daily intelligence tracker that reveals how brands are performing) revealed that in the week ending 14 July 2017, Boohoo increased in consideration from 31% to 38%, while Asos had dropped from 41% to 38% among a national audience.
Further bolstering the fast-fashion retailer’s summer of success, figures for Q2 saw Boohoo match Asos’s conversion rate at 39% and close the gap on perceptions of value for money and brand affinity, with its successful run showing no signs of abating.
The lure of online shopping, typified by competitive pricing and free returns, has continued to go from strength to strength. Both Asos and Boohoo drive a higher frequency of repeat custom with 3.9 annual visits, compared to 3.7 instore purchases for Next and 3.6 for Marks & Spencer, while the Office of National Statistics recording a 14.8% YOY increase in online sales across the fashion category in June 2017.
WGSN’s Barometer is used to track public perception of retailers. It interviews 350 consumers every day, yielding over 120,000 interviews a year, composed of over 100 questions such as:
Affinity: How would you describe your opinion of the following retailers?
In-store conversion: Which of the following retailers have you visited in-store in the last month? From which of the following retailers have you bought from in-store in the last month?
Online conversion: Which of the following retailers have you visited online in the last month? From which of the following retailers have you bought from in-store in the last month?
To find out more about Barometer and how it might benefit your business, check it out here.
*This article first appeared on Retail Week, to read it in full, head here.
Know what’s next. Become a WGSN member today to benefit from our daily trend intelligence, retail analytics, consumer insights and bespoke consultancy services.