Asos wins the hearts and wallets of millennials online
Image credit: Clark Street Mercantile (via Unsplash)
Brands, retailers, and the media obsess over what makes Millennials tick. And it's no wonder--this group wields over $4 trillion in spending power. With this in mind, Slice Intelligence decided to size up the apparel market to see where millennials are buying fashion online and what they are spending. Numbers show online shopping from this most coveted generation accounts for the largest share of online apparel sales.
Asos offers the most millennial friendly styles
If we define a retailer's fashionability by its popularity with millennials, than Asos is aces. Sixty percent of Asos's apparel revenue was generated by millennials last year. This makes sense as the British based retailer is known for young adult street fashion. Millennials are also partial to e-commerce pure plays and online innovators, like Rent the Runway, ModCloth, and Thinx.
Millennials spend the most at Amazon and Nordstrom
Amazon captured 17 percent of online apparel revenue among 18-35 year old shoppers last year. Nordstrom has the second highest share of millennial shoppers, accounting for eight percent of clothing buys, followed by Old Navy, at 5.1 percent.
About this data
With a panel of over 4.7 million online shoppers, Slice Intelligence gives the most detailed, and accurate digital commerce data available, and is reported daily.
Slice Intelligence is the only service to measure digital commerce directly from the consumer, across all retailers, at the item level, and over time. Our retailer-independent methodology precisely measures commerce as it happens. By extracting detailed information from hundreds of millions of aggregated and anonymized e-receipts, Slice can map the entire Purchase Graph, connecting each and every consumer to all their purchases.
Slice gets its data from e-receipts – not a browser, app or software installed by the end-user – so its measurement reflects comprehensive shopping behavior across multiple devices, over time which are key in an increasingly omnichannel retail world. Slice Intelligence is the exclusive e-commerce data provider for the NPD’s Checkout Tracking e-commerce service.