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Gloucestershire Business News

Very sales not very good

Some of the UK's biggest online retailers have seen sales slump.

Very Group, ASOS and Not on the High Street have all reported a drop in demand as the pandemic e-commerce boom recedes and shoppers return to the high street .

Very Group sales dipped 1.3% over the key Christmas period despite strong demand for toys and beauty products.

Sales at core group Very edged up 2.2% in the seven weeks to 23 December, or up 19.6% against pre-pandemic levels, however when legacy Littlewoods is included, group retail sales fell into negative territory, reports Retail Gazette.

Fast-fashion online retailer ASOS saw revenue fall 3% in the four months to December 31, 2022 and UK sales were down 8% reflecting "weak consumer sentiment" and disruption in the delivery market.

The online marketplace has warned staff that it plans to cut jobs, particularly as consumers are more conscious of spending amid the cost-of-living crisis.

Not on the High Street CEO Leanne Rothwell wrote in a letter to the company's sellers that in the past 12-18 months, it has "made significant progress to define and build" its proposition, modernise technology and evolve the brand, The Telegraph reported.

E-commerce giant Amazon is also preparing to make redundancies to cut costs. It will axe 18,000 jobs in a second wave of layoffs driven by economic uncertainty".

The majority of job losses are said to be coming from its bricks-and-mortar stores Amazon Fresh and Go.

It made several thousand job cuts just before the 2022 Christmas break.

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