Asos asserts that it is “optimizing marketing spend” and reallocating investment to improve return on investment (ROI) as the ecommerce giant intensifies its “obsession” with profitability.
Despite the macroeconomic volatility, CEO José Antonio Ramos Calamonte insisted that the retailer is committed to its profitability agenda. This “vulnerability” is most pronounced in the United Kingdom, where sales decreased 8% to $591,3 million in the four months ending on 31 December 2022.
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According to Asos, events like the passing of the Queen in September, Liz Truss’ mini-budget, and delivery delays in December all had a negative effect on consumer confidence in the UK market.
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