Customer Relationship Management Report
Its 2012 an era of recession, financial losses, downsizing and market saturations but how can one forget ASOS (as seen on screen) whose still busy in breaking the ice between customers and retailers, setting new standards into the bug of customer relationship management (CRM). According to a (Mintel 2011) report, ASOS was established in 2000 in UK and right now its the largest independent online fashion and beauty retailer. It got listed on London stock exchange in Oct 2001. After getting a boost in recent years in international market its September 2010 retail sales were £131.4 million (Mintel 2011). People aged between 16-34 years are the targeted consumers, who are fashion slaves. Its product line consists on women wear, menswear and kids. In women’s wear the range includes day and evening dresses, knitwear, jeans, jackets, coats, trousers, shorts, lingerie, nightwear, swimwear, sportswear and loungewear, footwear, accessories and beauty products. Menswear comprises on jackets, waist coats, jumpers, shirts sweat shirts, tops, jeans, trousers, shorts, swimwear, underwear, socks and loungewear. They offer a great deal in terms of prices and stock goods on a wide price range for all which makes shopping favourable for all sections of people (ASOS 2011). In the recent developments established by the company, the standout bullet is that they are now providing free delivery to almost all parts of the worlds with 195 countries. They have plans to open a new centralized warehouse in Yorkshire as well as part of expansion plans. They have also made their customers sure about the stagnant prices. ASOS is also well known for having untraditional and innovative marketing strategies and unique services. After analysing the increasing popularity and demand of mobile shopping ASOS has launched a mobile website too which has compatibility to support almost all of the mobile sets. They have started three separated websites for US, France and Germany to serve global customers. According to company’s data, as of 30th Oct 2010 they had 4.3 million registered users of which 2.4 million active customers (Mintel 2011). Their restless efforts and extremely wide vision couldn’t help them grow and strengthen their customer base. Figure 1: Snapshot of ASOS marketplace website
Another service unveiled in November 2010 named ASOS fashion finder that helps people to find brands that ASOS don’t stock.
Figure 2: Asos Fahion finder website
They launched a website named asosfollowsfashion.com making it easy for their customers to follow twitter feeds of fashion insiders, which updates the consumers about the fashion brands. As part of the cross-promotional campaign ASOS joined its hands with Cadbury’s Bunny (Mintel 2011). Another survey showed that almost three in every ten under-25s shop from ASOS and its well ahead of its competitors. Some interesting facts also highlight that 52% of ASOS shoppers consider online shopping as an entertainment or lunchtime activity. Their constant innovation strategy also resulted in the launch of a transactional shop at social networking website “Facebook”, due to the fact that majority of its targeted audience love to spend their time on facebook (Mintel 2011). Another competitive strategy by ASOS is that they allow their customers to return their items for free through over 3,500 local supermarkets, corner shops and news agents.
CRM (Customer Relationship Management):
CRM has not been a latest theory in the modern business world. CRM as explained by Feiz, khalifah and Ghotbabadi 2011 are the business strategies that mainly focus on the needs of the customers. Chen...
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