Asos is favourite millenial brand
British based online retailer Asos is the most popular fashion destination among millenials consumers, beating rivals such as Topshop, H&M and Forever 21 with its extensive archive of millennial friendly styles, according to a new report.
Research firm Slice Intelligence analysed the shopping behaviours of over 4.7 million online shoppers based on thousands of e-receipts, finding that consumers aged 18-35 are the biggest online retail spenders, accounting for the largest share of online apparel revenue in the last two years.
When it comes to retailers, Asos was favoured by the largest proportion of millenials, who generated 60% of its apparel revenue in 2016. Asos was followed by e-commerce startup Rent the Runway with 56% of its apparel revenue generated by millenials and indie fashion retailer ModCloth with 53%.
Both Forever 21 and Topshop saw 52% of their online apparel sales come from millennial consumers in 2016, while Express.com, Thinx, Urban Outfitters and H&M generated 51%, 51%, 50% and 49% of their revenue from millennials respectively.
Meanwhile, Amazon was ranked as the destination where millennials spend most of their money. According to Slice Intelligence consumers aged 18-35 made 16.6% of their online clothing purchases on Amazon last year, compared with 8.1% on Nordstrom.
Old Navy (5.1%), J.Crew (4.2%), Macy’s (3.6%), Victoria’s Secret (3.6%) and Gap (3.4%) where also highlighted as e-tailers where millennials spend their apparel budget.
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