ASOS to boost UK economy by £3.8bn as it releases its first-ever economic impact report

ASOS’ first ever economic impact report reveals its total impact in the UK grew to £1.8bn in 2019-20 
"As we’ve grown in size and scale our economic and social impact in the UK has also dramatically changed, which is reflected in this new report from Oxford Economics." - Mat Dunn.
// ASOS’ first ever economic impact report reveals its total impact in the UK grew to £1.8bn in 2019-20
// The report states that the retailer’s Barnsley fulfilment centre is the largest single private employer in the Barnsley metropolitan region

ASOS has released its first-ever economic impact report, featuring new analysis highlighting the scale of its contribution to the UK economy and society.

The research by Oxford Economics to mark the online fashion retailer’s 21st birthday revealed that ASOS’ total economic impact in the UK grew to £1.8 billion in 2019-20, providing vital support to UK economy at the height of the Covid-19 pandemic.

In terms of job creation, the online fashion giant supported more than 31,000 jobs across the UK in 2019 to 20. It directly employed over 3,600 employees, with every direct ASOS employee supporting 7.7 jobs elsewhere in the country, including within its own supply chain.


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The business also currently employs 187 apprentices, equivalent to 59 apprentices per 1,000 employees, 40% higher than the industry average.

The retailer also stated that it generated UK tax revenues of £825 million from its economic activity in 2019-20, an increase of 2.2% from 2018-19.

ASOS chief operating officer Mat Dunn said: “Since ASOS began over two decades ago, we’ve grown from a tech start-up with just a handful of employees to become a truly global business, directly employing over 3,000 people. As we’ve grown in size and scale our economic and social impact in the UK has also dramatically changed, which is reflected in this new report from Oxford Economics.

“We’re incredibly proud of the positive impact ASOS has on the UK’s society and economy – this is testament to the skill, dedication, and hard work of the ASOS team. As we continue our journey to reach £7bn of annual revenue, we’re looking forward to seeing how ASOS’ contribution to the UK will further grow.”

In addition to supporting national and international jobs, the retailer also contributes to levelling up and upskilling across the UK through.

ASOS’ Barnsley fulfilment centre is the largest single private employer in the Barnsley metropolitan region, while the retailer has also opened a new fulfilment centre in Lichfield, which will create 2,000 jobs over the next three years.

Supplier wise, ASOS spends over £800 million with UK suppliers, with c.25% of its expenditure spent in 40 most deprived English local authority areas and c.21% in areas allocated to the highest-priority group for the Levelling Up Fund.

ASOS also stated that its marketplace also supports UK based small and medium-sized enterprises by providing a platform to grow their fashion retail businesses.

It said that there are close to 1,400 global sellers currently using ASOS Marketplace from 55 countries, processing c.200,000 orders per year.

Pete Collings, Director of Economic Impact Consulting, Oxford Economics, said: “Our research demonstrates the significant contribution that a large and successful British company like ASOS can make to the economy, especially the jobs market and the UK’s public finances, as the UK recovers from the deepest economic recession in living memory. ASOS provides crucial support for the UK economy across its supply chain and in all regions of the economy, including levelling up priority areas.”

The full Economic Impact report can be downloaded here.

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