As many brands and retailers struggle to find their place amidst the COVID-19 pandemic, Asos Marketplace is seeing a surge in brand, traffic and sales growth.
The marketplace, which launched in 2010 as a way to connect Asos’ global audience with small brands selling vintage and independent fashion, has only become more relevant over the years. At the height of the global lockdown in April, the marketplace onboarded more than 80 new independent brands—a 100 percent increase from the year prior. The company waived its monthly $25 subscription fee for new and existing retailers to further support independent fashion during the unprecedented times.
“We’ve always strived to use Asos Marketplace to support and foster young, independent fashion boutiques and talent, helping them grow their businesses and at times even move over to the main Asos site,” said Jo Hunt, head of Asos Marketplace. “Now more than ever, we’re grateful we can use our platform to assist fashion traders and boutiques that would otherwise normally rely on foot traffic.”
Along with being a source for rare vintage denim, the marketplace has also seen an increase in year-on-year sales and customer traffic during the pandemic, specifically around loungewear. Year-on-sales in April increased 421 percent for sweaters, 119 percent for women’s hoodies and 166 percent for sweatshirts.
Customers have also been taking the opportunity to stock up on socks, particularly trendy tie-dyed versions, with sales up 1,418 percent compared to last year.
Support from global digital entities can be a savior for independent brands and retailers, which have especially been struggling as a result of store closures, high unemployment rates and inadequate loan programs. Small retailers have noted that support from alternative sources and partnerships that has been invaluable throughout the pandemic.