Online apparel fierce
The online retail landscape in Australia is fierce and historically dominated by international retail giants such as Asos. This year, smaller, more agile customer centric organisations have taken shape to diversify the market and offer more consumer choice.
Asos has consistently held the number one spot in Experian’s ranking of apparel and accessories websites based on share of visits coming from search and April is no exception.
Despite Asos’ dominance, The Iconic has emerged as another leader in online retailing in Australia. The brand has continued its growth trajectory, increasing its overall search share from 3.91 per cent in April 2014 (four weeks ending April 26, 2014) to 4.14 per cent in April of this year (four weeks ending April 25, 2015) and remains well above the nearest competitor, Cotton On.
This strong growth reflects The Iconic’s understanding of what its customers value. Services such as three hour delivery to certain areas, free of charge returns, and regular sales position The Iconic as a go to online retailer.
Local bricks and mortar retailers that also have online offerings such as Cotton On and Rebel Sport have experienced growth over the past 12 months but still have a way to go before they can truly compete with pureplay retailers Asos and The Iconic.
With each passing year, customer demands become more specific. Australians will demand faster, more secure deliveries and a more enjoyable experience instore, online, and through social media. Retailers will need to adapt to these changes, get creative and continue to innovate services in order to deliver on these expectations.
This story first appeared in Inside Retail PREMIUM issue 2045. To subscribe, click here.