The already increasing trend of online shopping has only grown further as consumers face lockdowns, becoming a need for the most vulnerable in some cases.
The current disruption is wreaking havoc in the high street, with several companies launching emergency fundraises or entering administration in a matter of weeks – the latest being TM Lewin and Oasis Warehouse.
Although no one knows how the pandemic will pan out, they are both expected to capitalise in this time of market reshuffle.
“As online penetration increases ASOS has secured financing to secure its long term growth with reassurance for suppliers and consumers,” analysts at Citigroup said.
Its online platform last year generated annual revenues of more than £2bn, of which around 25% comes from Label, the groups third-party platform for brands such as Barbour, Hugo Boss, Superdry and Mint Velvet.
“With the industry likely to be swamped by unsold seasonal product, we believe Next will benefit as a useful clearance channel, especially given the groups commission model, which will give the brands a level of control over pricing and ranging,” say analysts at Peel Hunt.