boohoo Group plc is emerging as the leading fashion e-commerce brand in 2023 having outclassed competitor ASOS PLC (LSE:ASC), according to Jefferies’ Retail Trends Barometer.
Tracking web traffic, app downloads and online search data, Jefferies analysts noted a “marked outperformance” by boohoo against ASOS in January and February, following an equally dismal December in which both names fell 20% each per the barometer’s metrics.
The boohoo barometer has continued to improve, reaching -3.6% in January and February and -1.6% in March so far.
ASOS, however, has remained at its December levels, recording -20% in January and February and -21% in the first weeks of March.
“When set against our Clothing E-commerce Barometer (which tracks the performance of boohoo, ASOS, Zalando, Shein and About You), we see that boohoo has tracked directionally in line with the median since December, with ASOS a clear laggard,” said Jefferies.
However, stock market performance between the two has not been so different this year.
At the time of writing, boohoo shares were up 45% to 53.5p year to date, while ASOS shares were up 40% to 747.5p.
In other boohoo news, the perenially online retailer has announced its first in-person experience by way of a pop-up on London’s Great Portland Street this weekend (March 25-26).