UK online retailer ASOS, which was once flying four jumbos full of clothing to Australia every week, plans to cut prices in Australia and offer free returns to counter a downturn in sales triggered by the weaker dollar.
Australia was once ASOS’s biggest market outside the UK, prompting the online retail pioneer to launch a dedicated Australian website and set up an office in Sydney.
However, the Australian dollar has fallen 5.3 percent fall against the pound over the last 12 months and ASOS’s prices have risen about 20 percent, making its private label and branded clothing less competitive against domestic online retailers such as Dotti, Portmans, Sportsgirl and Myer.
(Source: The Sydney Morning Herald Online )