Fashion giant Asos delays some autumn orders due to concerns customers will cut back on new outfits in cost of living crisis
Fashion giant Asos has delayed some autumn orders due to concerns customers will cut back on new outfits in the cost of living crisis.
Suppliers have told The Mail on Sunday that some stock had been cancelled altogether in recent weeks, at short notice.
Insiders insisted cancellations were ‘not running at above normal levels at this time’ but there had been ‘a few more postponements’.
Concern: Fashion retailers such as Asos are putting back orders for autumn
However, there is growing concern in the industry that online retailers targeting younger shoppers are feeling the pinch.
Asos issued a profit warning in June, blaming inflation and more shoppers returning items. Its chief Matt Dunn warned of ‘a change in consumer sentiment’.
The online retailer said last night that its supply chain operation ‘is functioning well against the backdrop of unprecedented global disruption in our markets’.
It added: ‘We outlined a new strategy in November last year, which included moves to buy on shorter lead times and tighten our inventory.
‘Against this backdrop and in line with normal industry practice at this time of year, we have postponed a limited number of orders. We value our supplier relationships and will continue to work closely with them.’
But one supplier said he was concerned stock levels at the firm had become ‘clogged up’ and that cancellations may become more frequent in the coming weeks and months.