BooHoo's bargain fashion sees profits spike
BooHoo.com are having a rip-roaring time of it, watching their profits rocketing in the first half of 2016.
Discounts have been a big plus for the company, and that's going to be a large part of the company's strategy, according to joint chief executive Carol Kane.
"We have invested a lot in price and promotions and shoppers have responded well to it, both in the UK and abroad," said Kane.
Of course, we've got our own vouchers, if you're looking for cheap women's fashion, and you can find them here.
"A promotional market has become the norm, particularly in the online space; it is part of shopping online," explained Kane to Drapers.
“You can do promotions online in a clever way, but it can be more of a challenge for bricks-and-mortar retailers as you can look distressed if you are in promotion all the time. Trade on the high street is tough, but promotions are a big part of our strategy."
As the UK has been surprisingly warm, BooHoo are holding off on pushing knitwear for Autumn, unlike the bricks and mortar shops who currently have a lot of clothes no-one really wants to buy (yet).
"We've just come out of a strong summer season and that momentum will continue into autumn," she added. “We're playing our cards close to our chest but we're very agile, so if we have any extreme weather conditions in October and November we can react."
"We're keeping our transeasonal collections longer than traditional bricks-and-mortar retailers. We'll delay our heavy coats for a while longer."
TOPICS: Cool Stuff