Candidate Number: 35446 Course Code: N1079

1. Executive Summary
%is report provides an analysis and evaluation of te current and prospective
position of Asos plc. witin te online retail market. Additional attention is given to
current economic environment and its influence on te online retail market.
Analytical part of report covers industry structure analysis, application of Porter's five
forces model, value cain and generic strategies and te competitive advantage
obtained from tose. %e report finds tat Asos's competitive advantage lies in doing
te same tings in a different way tan its rivals. Also online fasion retail, as been
and will be on rise, wit te most important cannels being online stores, mobile
pones and social networking. By analysing data and company's facts, tis report
comes up wit relevant recommendations for Asos; expansion to Cina and oter big
strategic markets, focusing on te value segment and menswear, as in five years
tose are were te growt opportunities will be, building up new distribution
cannels and purcase points.













Candidate Number: 35446 Course Code: N1079


. INTRODUCTION
.1. INDUSTRY ANALYSIS
2000 was a turning point for retail cannels. Before small, overvalued
companies, tat generally make losses, were present in te online retailing
(i.e. boo.com). Most of tose companies collapsed in 2000, and around 2001
te second pase of "e-tail started.
Estimated world total apparel market at retail prices was US$680bn for 2000
and in 2007 grew to US$769bn. %e sares of retail cannels in 2000 and
2007 are as follows respectively; traditional retail sops by 69.8%, ten down
to 65.0%, catalogues on te internet 0.1%, ten up to 5.2%, social networking
by almost zero percentage, ten up to 2.0% (Newberry, 2010)
n 2008, quotas were eliminated at EU's cloting trade. %is was also a
turning point for te evolution of global cloting market. Cina and some
oter low labor cost countries became major suppliers in te industry, tus
costs were reduced. n spite of tis development, financial crisis, tat it te
global markets in te same year, brougt fort decrease in demand for all
kinds of products, including cloting. (Curran, 2009)
As response to te 2008 financial crisis' outcomes, te mass market first tried
to lower te price points and later decided it's best to introdce budget
mercandise.Since ten te consumers become more knowledgeable, fickle
and demanding.(Newberry, 2010) Consumers sifted to online retailers to
spend teir money, mostly because of te bargain offering fame of teirs.
(Collins, 2008)
UK retail market is in mature state; on te oter and, online retail market is a
young one tat sows dramatic growt, since its introduction between 1998
and 2002. (%imes 100, 2009) %e same can be said for te global markets as
well.
.. ASOS pIc.
Wen Asos started, it was a different business model; te company ten
called "as seen on screen and was focusing on giving informations about te
products seen in tv sows and films, oping to get paid by te sellers of te
Candidate Number: 35446 Course Code: N1079


featured items. Seeing tat te idea didnt worked tey canged te business
model and website name to ASOS betwen 2001 and 2002.(Anonymous,
2007)

(ttp://asos.annualreport2010.com/Doc/pdf/AnnualReport.pdf)

Asos.com is a pure play online retailer in te mass market,based in London.
ts product range constitues of own brands, national and international brands
and contemporary designer brands.t as a 'faion bargain' reputation, wic
positions te company in te market. (Newberry, 2010) %e company took
over te market leadersip in te UK online retail industry from Next in 2010.
(Datamonitor, 2011)

Candidate Number: 35446 Course Code: N1079


Women's wear, men's wear, cildren' wear, footwear, accessories, jewelry
and beauty products are offered at te website, in wic more tan 36,000
products can be found and approximately 1,300 new product lines are being
introduced eac week.

(ttp://asos.annualreport2010.com/Doc/pdf/AnnualReport.pdf)

n 2008 ASOS outlet, in 2004 asos women, in 2007 asos men,in 2009 little
asos, in 2010 Marketplace,US, Germany and France websites, 2011 Fasion
Finder and Facebook store were introduced .(Datamonitor, 2011)

. COMPETITTIVE ADVANTAGE
Porter (1980, p. 3) argues "Competitive advantage grows fundamentally out of
value a firm is able to create for its buyers tat exceeds te firm's cost of
creating it. A company could gain competitive advantage eiter by doing
different tings tan its competitors, or by doing tings differently tan its
competitors. (O'Sannassy, 2008)

.1. E-VALUE CHAIN
n te ligt of Nicolls and Watson's (2005) researc, te e-value cain of
Asos will investigated under tese strategic eadings; firm infrastructure,
marketing and sales, logistics and fulfilment. n line wit Porter's (2001) e-
value cain analysis, some supporting and primary activities are combined
due to te nature of online retailing business. HRM, tecnology development,
operations and service delivery are included in "Firm infrastructure. nbound
and outbound logistics are examined under "logistics and fulfilment.
"marketing and sales goes in line wit Porter's value cain.( Nicolls,
A.,Watson, A., 2005)


Candidate Number: 35446 Course Code: N1079


3.1.1. FIRM INFRASTRUCTURE
Asos is a public limited company (plc), its sares are open to te public on te
Alternative nvestment Market (AM). After joining te AM in 2001, Asos
made its first profit in 2004. %e sare price being 5p at te beginnings rose to
350p in August 2008. (Lewis, 2008) n 2010, Asos AM sares reaced 1287p
by making it te Winning AM Company of te Year. (Lout, 2010) As Nick
Robertson (founder and CEO) mentions, to support te growt of Asos, te
company prefers investing in building infrastructure. (Clews, 2009) Being in
te AM enables Asos to raise capital, tus it makes it financially easier to
grow. Growt is linked wit operational volume increase, and tis brings about
economies of scale, wic Asos made use of to reduce its costs.
Asos is a great example for organic growt. %is is one of te KSFs. %ey
made use of economies of scale, ave found new markets, managed to
increase customer base even by exceeding over te target age group.
(%MES100, 2007) f a company grows rapidly internally, it is expected to ave
some problems related to growt, in terms of distribution, stock, supply, staff
etc., Asos did not experienced any of tese.(%imes 100, 2007)
Asos' financial resources enables te company to expand into new markets,
te US, France and Germany. Recent years' uge financial growt also
strengtens te company's domestic operations.(Datamonitor, 2011)

Candidate Number: 35446 Course Code: N1079


(ttp://asos.annualreport2010.com/Doc/pdf/AnnualReport.pdf)

Asos brand as 'value, ig street and premium lines' and own label products
sales make te alf of te total sales. (Barrett, 2011) Wit te wide product
portfolio Asos aims to respond to te needs of different ages groups, as well
as its core target market 16-34 year olds.(Datamonitor, 2011)
%e product life cycle is maybe te most important issue to address in a
fasion business. Anoter KSF is Asos's management of te product life cycle
effectively. According to te Boston Matrix model own label dresses and t-
sirts are Asos's cas cows. Asos is quite fast in managing dogs, since its
outlet section gets renewed frequently. n order to manage te question
Marks, offering discounts by newsletter, Asos Magazine and 'new in section'
elp.(%imes 100, 2009) %e season differences between te Nort and Sout
emisperes and te customers, taking a trip to otter climates in winter time
prolongs te life cycle of Asos products. As a result of selling winter and
summer apparel at te same time Asos maximises its revenues.
n September 2010 Asos launced te US version of its website, prices in
dollars, products sipping from te London wareouse wit a logistics facility
in Atlanta for returns. (Datamonitor, 2011)
Marketplace as been launced to enable customers to sell to te oters and
to buy from eac oter. At te same time independent designer and retailers
can also benefit, by opening up a store. Marketplace is aiming to be a
competitor of E-bay, and Asos takes 10-15% of te products sold. Asos
Magazine was launced in 2007 to increase sales and te web traffic; it also
elped asos.com to be a fasion issues autority. Wit te launc of te
Fasion Finder, Asos targets to strengten its position as a fasion
destination and autority.(Anonymous, 2008) Fasionfinder is aiming to be a
competitor of Polyvore and Sopstyle.(Anonymous, 2011)(Barrett, 2011)
Anoter KSF is te company's investment in people and tecnology.
(%MES100) Asos as 700 employees, of wom 120 work in % and 16 work
as designers. Young, trendy females accounts for te majority of Asos's staff.
Candidate Number: 35446 Course Code: N1079


Since tey also matc te company's target customer segment, tey are
efficient in knowing te customer requirements and meeting tem. (Barrett,
2011) Asos gives customer care service from its Facebook and %witter
accounts in addition to te direct e-mails. %e new Asos Facebook store
makes is possible for te customers to make a purcase witout leaving
it.(McEleny, 2009) Asos's organizational culture contributes to gaining
competitive advantage. %e company creates a welcoming work atmospere
by "flexitime working ours, competitive salaries, benefits like staff discount,
Cristmas contests. %e staff is allowed to use Facebook and twitter during
work ours, to keep up wit wat's going on in te fasion and entertainment
world for te sake of Asos. (Anonymous, 2009) Asos's paid searc activities
as been given to crossing so tat te company's marketing team can focus
on oter cannels. (Anonymous, 2010) %e igly efficient website also
contributes to Asos' success. (%MES100, 2007)
3.1.2. MARKETING AND SALES

(ttp://asos.annualreport2010.com/Doc/pdf/AnnualReport.pdf
Asos frequently make collaborations wit designer brands. t's a win-win for
everyone, since young labels and ASOS get te PR and brand awareness
tey want, and te designs become affordable for Asos customers. (LCF,
2009) Asos's collection designed by LCF students was a great success, as
well as te collaboration wit Patricia Field.(Anonymous, 2007)
One of te KFSs of Asos is te targeting te rigt consumer segment in terms
of age, 18-24 year olds does not ave mortgages and big debts to pay
(Jones, 2009) Asos's core target customer group as a tendency to spend
more on cloting and footwear, tan te rest of te age groups.( %imes 100,
Candidate Number: 35446 Course Code: N1079

%
2007) %ose over 35 makes over 20% of Asos's customer base.( %imes 100,
2009)
Asos launced asosreviews.com, in wic customers' negative or positive
comments are gatered from %witter and Youtube, to empasize being open
and transparent. (McEleny, 2009) Asos %ee-V was launced wit HP to
support London fasion week, tis elped to strengten te ties wit te
designers and customers.(Lovett, 2010)
Anoter KSF of Asos is tat te company did spend relatively small amount
on advertising and tey cose offline advertising, altoug it's an online
business. Asos placed editorial context into magazines like Grazia and found
out tat even just mentioning te website address, drove te sales faster tan
traditional paid advertising.(Anonymous, 2007) Asos community site Asos life
turned out to be very profitable since it leads te users to Asos website and
strengtens brand loyalty.(McEleny, 2009)
Asos's ig margins let te company to offer free sipping in te UK. Asos's
free returns option, wic is now available in US, Germany, France, also
contributed to te company success.(Barrett, 2011)%o Mr. Robertson 'free
delivery and returns option' is Asos's biggest marketing weapon, wit te
appy customers and word-of-mout it created, it brings more value to Asos
tan any uge spending on marketing can bring. (Anonymous, 2009) Asos is
online fasion retail leader in Australia and reland, and second contender in
Denmark.(Datamonitor, 2011)
Asos as done brand awareness increasing marketing activities. Sponsorsip
to next top model on Living %V, Diet Coke partnersip tat reaced on being
42 million of cans. From November 2009 to Marc 2010, Asos brand
recognition increased from 46% to 62%. Beind Galmour, Asos magazine is
te second biggest fasion magazine in te UK, wit 450,000 circulation and
it is considered te key marketing tool.n 2006 Asos was te first online
fasion retailer in launcing its own produced catwalk for its
apparel.(Datamonitor, 2011)

Candidate Number: 35446 Course Code: N1079

%
3.1.3. LOGISTICS AND FULLFILMENT
Asos as a strong distribution network, wic is anoter KSF (Cross, A.,
Fos, J., 2009)
Hig demand to Asos products leaded to lack of capacity in te wareouses,
in 2004 Asos ad to issue a profit warning; anoter warning came after te
Buncefield depot explosion in 2005. After te incident Asos made a deal wit
te tird party logistics provider Unipart. t became a success and cost per
unit as nearly alved (Pryce, S., Jinks, D., 2007) Mr.Robertson mentions
about te importance of logistics to a company by recalling, Amazon turning
away from its mistake of spending millions on %V ads, and investing in getting
tings rigt at logistics (Anonymous, 2009)
Asos increased te number of its carrier from two to four, tis increased te
number of delivery options for te customers.(MetaPack, 2010) %ere is te
next day delivery and standard delivery(2-3 days) options. 85% of te orders
are retractable from te asos web site.
ASOS received te Best Customer Experience award from MRG eCommerce
Awards, in December 2009.(Datamonitor, 2011) Outside te UK Asos as
delivery to 194 countries. n September 2011, Asos will open a new
wareouse wit a capacity of 600 million sales. (Datamonitor, 2011)
Asos Premier is annual service wic allows you to ave free next day
delivery and free returns pick-up on all of te orders done by a customer in 12
monts period, 24.95. %ere is returns pick-up for 2.95 carged by eac
service. %e company is still in talks wit leading retail brands in te UK about
a new delivery option to pick up orders at points oter tan customers' office
or ome. (Datamonitor, 2011)

.. PORTER'S FIVE FORCES MODEL
Analysis of te industry structure elps a company in strategic positioning.
Not all of Porter's five forces ave a strong influence on an industry at te
same time.
%e most influencers affect profitability and strategy formulation. (Porter,
2008)

Candidate Number: 35446 Course Code: N1079


3.2.1. Competitive Rivalry
%ere are many big rivals like New Look, Next, Amazon, eBay,M&S Group,
River sland, Findel plc, N Brown Group plc, %opsop, J.P. Boden & Co. Most
of tese companies sip to worldwide addresses. nternational companies
Zara and H&M are important rivals of Asos, in terms of fasionability and tey
ave recently entered te European online retail sector. Because te online
retail industry is igly competitive and wit significant new comers, Asos's
market sare and profitability could decrease. (Datamonitor,2011) Some of
te establised market leaders in te US online retail are
Revolvecloting.com, Sopbop.com and 80spurple.com.(Datamonitor,2011)
n order to rival te well-known discounters like %K Maxx, Asos Outlet was
launced.(%imes 100, 2009)
3.2.2. The Threat of New Entrants
Firms like Asos tat acquires a lot of profit quickly attracts new entrants in to
te market. Altoug tey lack te infrastutcture of te market leader
companies, tey still can be a pressure factor. (Partasaraty, 2010) Even
toug tere migt not be actual new entrants, but te realization probability
of te new entrants influence profitability.(Porter, 2008)
3.2.3. The Threat of Substitutes
%reat of substitute products is nearly non-existent.
3.2.4. The Bargaining Power of Suppliers
t is relatively low, since tere are many low labour countries competing wit
eac oter. As a result of Asos's international expansion, te company will
gain advantage of a bargaining power wit it suppliers. Consequently any
possible price rise on te Asos brand products in 2011 will be relatively low.
(Datamonitor, 2011)
3.2.5. The Bargaining Power of Buyers
%e bargaining power of buyers is ig in te online fasion industry because
it is a lot easier for customers to searc for te best prices online, compared
to te traditional retail industry.
Candidate Number: 35446 Course Code: N1079


.. PORTER'S GENERIC STRATEGIES
According to Porter (1985) aving a clear generic position and acieving
competitive advantage make it possible for a firm to reac its strategic and
financial targets.(O'Sannassy, 2008)
Asos as a broad focus scope and adopts a cost leadersip strategy. (Porter,
2008) %e downturn of tis strategy is aving lower customer loyalty and
being known for low quality products. %e latter issue as been managed by
Asos by maintaining economies of scale, te former is efficiently managed by
marketing activities.
4. PESTE ANALYSIS
4.1. POLITICAL: n most of te countries government applies sales taxes to
apparel and tis as an adverse affect on te margins. (Newberry, 2010) n
january 2011 VA% is increased to 20% tis will adversely affect te retail
industry's volumes.(Datamonitor, 2011)
On te oter and tere is no tax on cildren apparel (HM, 2010) Public
sector jobs will be cut to reduce te government' spending, consequently
unemployment rates will go up. (Datamonitor, 2011) Labour costs are going
up in te UK; tis will ave an effect on te retail industry margins.
(Datamonitor, 2011)
4.. ECONOMIC: Because of te job cuts, low wage growt and tigter
lending, consumer confidence was still negatively affected in 2010. n spite of
tis, retail growt in December 2010 was positive. (Newberry, 2010) n 2011
te UK economy is expected to grow at a low rate of 1.9% according to
December 2010 informations.November 2010 unemployment rate was 7.9%,
and for te age group 16-24 was 20.3%, bot being very ig. As te
unemployment rates sow a pessimistic figure, buying power of consumers
may ave a downfall. t is likely to be expected tat non-food retail will
downsize because of tis economic atmospere.Rise of inflation levels will put
a rise on te prices. (Datamonitor, 2011)
Candidate Number: 35446 Course Code: N1079


4.. TECHNOLOGICAL: %e company wo is fast in adopting new
tecnologies will be more likely one step aead of te rivals. n te online
fasion retail industry, Asos is one of te first companies in mobile pone
cannels and te first in Facebook store cannel.
4.4. SOCIAL: Celebrities and teir lifestyle as become a raising interest in UK
as well as in te world. Wen Asos started in 2001, it made copies of te
outfits worn by te celebrities, and still tey are selling products "in te style
of celebrities. (Killgren, 2007)
4.5. ENVIROMENTAL: Mr. Robertson states tat on te rainy weekends in te
UK, Asos sales ad gone up, since buyers preferred to stay indoors and
spend time online.( Killgren, 2007) t is also known tat sunny weater makes
people appy and can lead to sopping for summer clotes.

5.RECOMMENDATIONS
According to 2016 forecasts (Newberry, 2010), markets, online stores, mobile
pones and social networking websites will be te most favoured retail cannels.
Asos already uses te latter tree cannels, in order to make use of tese and
growt opportunities efficiently, te following recommendations are given.
Ansoff's market development strategy sould furter be applied by Asos. 50% of
world internet traffic is old by te US and Cina, and te UK only accounts for 3%.
Cina could be te Asos's fift market, since it's a big strategic market, and
geograpically could elp Asos to obtain a big market sare in Asia. Once Cina
operations could reac a certain level, Asos could go into Japan and Korea, te
former being known for fasionable yout, and te latter's online sopping from
international retailers sows a uge growt. (Jin, B., Moon, H., 2006) Acieving
success in Asia could elp Asos to reac its 1 billion sales target, over te next five
years.(Barrett, 2011) Burgeoning markets like ndia and Russia, wose value
segments sow uge growt, could be next ones to target.( Baker, 2006)
Asos is tinking of making US dispatces from tere, wen te US sales volume will
make it a necessity. (Datamonitor, 2011) %is can also be made possible for
Germany, France and for te upcoming new markets. n te new markets,
collaborations wit regional bloggers could elp Asos gain brand awareness and
Candidate Number: 35446 Course Code: N1079


market sare. Since bloggers are extremely influencing among yout in today's
internet world and tey seem to be getting more and more powerful in terms of
saping consumer trends and beaviour.(Anoymous, 2010) %is is also in line wit
Asos's 'spending less on advertising, more on infrastructure' pilosopy.
According to te cloting retail global forecasts, by 2016 tere will be polarisations in
te industry. Because of tis polarisation mass market will downsize and value
segment will grow. Most important market and cannel for value segment will be te
developed world and internet, respectively. (Newberry, 2010) According to forecasts
te same applies to te UK online mass-market and online value segment.
(Newberry, 2010) %e demand for men's fasion products are increasing in te UK,
as well as ndia and cina, wit a market growt rate of 25-35%.(Datamonitor, 2011)
%erefore, in terms of market segmentation, Asos sould furter focus on value and
men's products, drive growt from of it globally. Ansoff's product development
strategy sould be applied to Asos own brand menswear, and 'value, ig street,
premium' lines sould be added to it.
n terms of resources and capabilities, tese website reccommendations could elp
Asos; quick look, zoom in te same window, build te look recommendations, online
cat wit a customer care assistant, customer reviews of te products. Because
tese are wat customers value and Asos lacks. (Seock Y, Norton, MJ%, 2007)
Asos accepts Sterling, Euros, Dollars, all te Scandinavian currencies. (Collins, J.
2008) On te oter and Revolvecloting.com, wic is one of te top online retailers
in te US, as %urkis prices on its website. Asos could also adopt tis strategy, and
every year in te top 10 of its markets, at least, regional currencies could be set,
even if te dispatces will be still made from te UK.
Ansoff's market penetration strategy sould be used, since Asos is already tinking
of including some new international brands to its product base in te upcoming
seasons. (Datamonitor, 2011) Asos could launc a new system to include
international brands to its product range. Starting from te biggest customer market,
te company can introduce one of tat country's successful brand to global soppers
of Asos. n five years time 50 new international brands, eac being from a different
country can be included to Asos product range, as long as te dispatces are done
from tose countries. Asos could establis an internal dispatc team based on te
related brand's omeland wareouse.

n terms of innovation, te company could build Asos store computers, similar to
store navigation ones, to te UK sopping centres. Also in sopping streets of cities,
Candidate Number: 35446 Course Code: N1079


Asos could put tose computers, in te appearance of A%Ms. n order to compete
wit te traditional retail rivals, %5 discount could be applied to te purcase made
from tose computers. n order to prevent abuse, te discount could only be done to
maximum of e.g. 300$ in a mont. Logistics and andling returns are generally
financial burdens to online retailers. Asos's gross margin is negatively influenced by
free sipping it offers in te UK. Reducing te volume of free failed ome delivery will
be more tan good for te business. For collecting orders and returning unwanted
items, Asos can establis kiosks and desks in some central locations of cities and in
big sopping centres in te UK. (Scultes, 2011)




























Candidate Number: 35446 Course Code: N1079


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Candidate Number: 35446 Course Code: N1079

%

Pryce, S., Jinks, D.(2007) Rapid growth, industry recognition and outstanding
success. Logistics & Transport Focus, Nov2007, Vol. 9 ssue 9, p24-26, 3p;

Rates of VAT on different goods and services (2011) HM Revenue&Customs
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services.tm Accessed 2 May 2011]

Scultes, R (2011) Online Retail Flashes Its Achilles' Heel Wall Street Journal
(Eastern edition). New York, N.Y.: Mar 11, 2011. p. C.8

Seock Y, Norton, MJ% (2007),'Capturing college students on the web:
analysis of clothing web site attributes', Journal of Fasion Marketing and
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Strategic growth in the fashion retail industry (2007) %e %imes 100 online]
Available at:
ttp://www.tetimes100.co.uk/downloads/asos/asos_13_full.pdf Accessed 2
May 2011]

Strategic growt in te fasion retail industry (2007) %e %imes 100 online]
Available at:
ttp://www.tetimes100.co.uk/studies/view-summary--strategic-growt-in-te-
fasion-retail-industry--134-325.pp#ixzz1Lf%e2tay Accessed 2 May 2011]

The product life cycle and online fashion (2009) %e %imes 100 online]
Available at: ttp://www.tetimes100.co.uk/downloads/asos/asos_14_full.pdf
Accessed 2 May 2011]


Graps taken from:
ttp://asos.annualreport2010.com/Doc/pdf/AnnualReport.pdf accessed on: 5
May 2011]