ASOS Swot Analysis – Swot Analysis of ASOS: ASOS is “As As Seen On Screen” which is a British online retail store for fashion and beauty. It was founded in 2000 in London specifically aimed at millennials who are young. The website sells more than 850 brands, as well as its own private label of accessories and clothing.
The site has amassed nearly 80000 private and brand-name labels. The headquarters is located in Camden Town and at the Greater London House. The company ships to more than 2000 countries, with distribution centers across The US, UK, and Europe. There are 168 of their suppliers that utilize 713 factories around the globe. They employ over 3000 individuals and they’ve got an internationally recognized moral trading strategy that includes the safety and health of employees, increasing the pay, transparency, and the issue of modern slavery.
ASOS fun facts: Initially known as “AsSeenOnScreen Limited”, the company soon shortened the name to ASOS in less than a year.
About ASOS – SWOT analysis of ASOS
Company: ASOS plc
CEO: Nick Beighton
Founder: Nick Robertson | Andrew Regan | Quentin Griffiths
Year founded: 3 June 2000, London, United Kingdom
Headquarters: London, United Kingdom
Annual Revenue: Pound£2.73 billion
Profit | Net income: Pound£128.4 million
Number of employees: 3,017
Products & Services: Beauty accessories | Clothes | Shoes
SWOT analysis of ASOS – ASOS SWOT analysis
SWOT Analysis Of ASOS is brand-based. SWOT Analysis of ASOS evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing ASOS’s SWOT Analysis. Below is the detailed SWOT Analysis of ASOS.
Let’s talk about ASOS’s SWOT assessment.
Strengths of ASOS – ASOS SWOT analysis
1.) Brand image
It is also a part of the brand that is also working with GLAAD as one of the most prominent voices in LGBT people. LGBT community. The brand is committed to promoting the healthy image of a woman and does not conform to stereotypes. The company also assures its customers that they do not manipulate digitally the image and clothing that models wear. ASOS has built a positive image for its brand by focusing on its corporate responsibility, and also making sure that customers are aware of the people they are aiding. ASOS appreciates good representation of the brand.
2) ASOS Designs
The brand makes sure that it will do everything in its power to help customers find the perfect fit. The brand offers greater than thirty sizes and is dedicated to offering all sizes for the same price. The designs are created so that they are able to accommodate any size. ASOS provides a variety of items that anyone can pick from. The company takes stylish items from various brands and then groups them under the ASOS brand. This method has contributed to the success of ASOS. ASOS to become the top online destination for fashion
3.) Supply Chain
ASOS offers a unique strategy for understanding and implementing the process of implementing supply chain operations. The company is planning to continue its expansion in the local market and invest in its supply chain. The company purchases its supplies from 500 factories across 28 countries. The brand has invested in the latest technology in distribution and technology.
The operations of transportation management are monitored closely by ASOS. The principal providers of ASOS are located in 14 countries. Customers are notified via email or text message on the day of delivery. The delivery begins with a one-hour delivery time. Customers can track their purchase maps online via the using the mobile or web app. The integration of technology into operations has assisted ASOS boost revenues.
4.) Brilliant Influencer Marketing Initiative
ASOS has a group known as ASOS Insiders which is a group of millennials aged 20 who post their trendy outfits on Social Media and other channels. The most popular trend among young people includes OOTD( The Outfit Of The Day) and these influencers curate irresistible renditions that are a perfect version of the OOTD.
On Instagram users can view the product codes within the picture captions. Through a tracked link, users can access the ASOS websites via the curated links of influencers. Even on Pinterest, the images can be directly linked back to the website of ASOS. Customers can purchase the items featured on your social accounts.
Weaknesses of ASOS – SWOT Analysis Of ASOS
The money invested by ASOS in Research as well as development is less than the industry standard. It is not capable of competing with top players in the industry in regard to the pace of innovation. The brand has appeared as a mature business that offers products on its site when it’s already working and testing in the market industry. The brand is now taking steps to R& D by supporting the University of Arts, London as well as brands such as Clarks and Clarks, to sustainably grow in fashion and style through creativity and adaption.
2.) Free shipping
The brand is a leader in global shipping strategy that can accommodate customers from international customers and has evolved into an international business, but it’s not without a price. The value of ASOS’s share ASOS decreased when the free shipping began to impact its margins. The company had for a short period of time stopped the promotion, but it has now resumed it again.
The business requires to invest more in technology in order to enhance their customers’ experience. The company must make use of more data analytics in order to reduce its slowdown in the growth of sales. The company is growing at the fastest rate in various geographical regions. The company has to invest more in technology to bring all its processes across borders and make important decisions that are supported by information.
Opportunities of ASOS – ASOS SWOT analysis
1) Changing Trends
The latest trends in fashion and the shift in buyer behavior could open opportunities for new market opportunities that could be a boon for ASOS. The famous fashion brand has been around since the start of the company. 41 percent of the current products are not older than 3 months. The ever-changing trends and the growing demand allow them to purchase between 250 and 7000 brand new items every week. Marketing91 can use this to expand into newer categories of products and services.
With increased marketing efforts to increase traffic to the sites their rivals use, ASOS could convert undecided consumers before their competition thus expanding their customer base and increasing their traffic.
ASOS has also in the process of planning a television advertising campaign in France to highlight the effectiveness of the UK Billboard advertising initiatives. Utilizing real-time data collected from social media, blogs as well as websites, and making use of the data to guide advertising and pricing decision-making will assist the brand to grow its customer base.
ASOS can expand its range of products and expand its range of merchandise, expand brands and even extend into other categories as customers love the variety.
ASOS continues to be focused on fashion, even though it has expanded its focus to beauty.
ASOS is making a strong campaign in US markets through the launch of a new app, which allows customers to shop and access other brand-related content. The app will aid in helping ASOS to expand its reach into its US market. The company has also established an office within the US to speed up shipping. Other product options such as “try before you purchase” and same-day delivery to new markets will aid in expanding the brand.
Threats of ASOS – SWOT analysis of ASOS
ASOS must work to market the product by focusing on positioning and distinctive selling propositions. Since they aren’t clearly understood, it caused attacks on the market by competitors.
We carry the Bohol, a brand owned by Bohol with 100 new styles that are added daily offering more options to customers. Bohol also offers a 28-day return service for customers. Another rival is Nbrown which has an online strategy that incorporates the collaboration of Amazon the brand holds a large share in the women’s clothing segment. The launch by Amazon of Prime Wardrobe offers progressively higher discounts than ASOS. The competition is growing tougher and ASOS has to take strategic choices to stay ahead.
2.) Economic aspects
The world trade organizations regulate the rules of trade and the purpose of any decision will help the manufacturers of products and services to conduct their business. ASOS must make sure that they adhere to the rules of the agreement. Trade wars could result in the price of items rising, and Brexit has led to the movement of skilled labor to slow within the UK. ASOS must always prepare for any scenario that the political, as well as economic conditions, could bring on it.
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Overview Template of ASOS SWOT analysis
ASOS is one of the biggest and most thriving fashion and cosmetics retailers in their industry and continues to do well. Through the SWOT Analysis of ASOS, we have come to the understanding that it has a great geographical and social media presence which leads to it having a huge customer base and target market. Its product quality and product innovation have been one of the major factors leading to customer satisfaction.
Also, a diversified workforce has helped it gain success in the market. However, it needs to expand into other product segments and spend more on its R&D as it is important for the company, its decision-making process needs to be changed and made better and employee satisfaction should be measured to understand the high attrition rate.
The marketing efforts made by a company lead them to a successful position and help them achieve their goals. In today’s time, digital marketing has gained immense importance and one should be skilled in it to be better and at the top.
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