Asos.com will be the envy of its high street competitors after posting record sales - up 107% year on year to £65.7m. The results come amid concern that cash-strapped consumers will abandon the high-street in favour of cheaper online alternatives this Christmas.
Nick Robertson, chief executive of the fashion giant, says that while the all-important Christmas trading period lies ahead ‘we view the coming months with cautious optimism'. Anyone who has read the plethora of articles in the broadsheets, gossip magazines and tabloids about how to have a credit crunch friendly Christmas - all extolling the values of ASOS.com - suggests it is well placed to survive.
However, while discount fashion retailers such as Primark have continued to report robust sales figures some in the industry believe that smash and grab shopping maybe going out of style. Notably - a shift from quantity to quality - with consumers spending more time online researching lasting buys rather than disposable clothing - warn once before being forever discarded in the back of the wardrobe.
However - while social commentators have claimed the onset of the recession will mark the end of the ‘conspicuous consumption' which marked the past decade - anyone who stepped into M&S last Thursday may disagree.
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