Asos most popular destination for Millennial shoppers but Amazon attracts biggest spend – survey
Asos is the most popular fashion destination among big-shopping Millennials, although Amazon is where they spend most of their money on clothing, according to research firm Slice Intelligence.
The UK-based online fashion retailer beat rivals such as Topshop, H&M and Forever 21 with its extensive archive of Millennial-friendly styles, its report shows. Slice Intelligence analysed the shopping behaviours of over 4.7m online shoppers based on thousands of e-receipts, finding consumers aged 18-35 are the biggest online retail spenders, accounting for the largest share of online apparel revenue in the last two years.
Asos was favoured by the largest proportion of Millennials, who generated 60% of its apparel revenue in 2016. It was followed by e-commerce startup Rent the Runway with 56% of its apparel revenue generated by Millennials, and ModCloth with 53%. Both Forever 21 and Topshop saw 52% of their online apparel sales come from Millennial consumers in 2016, while Express and Thinx generated 51%, Urban Outfitters 50% and H&M 49%. Meanwhile, Amazon was ranked as the destination where Millennials spend most of their money, with those 18-35-year-old consumers making 16.6% of their online clothing purchases on the online mega-giant last year. That compares 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%).