Daily Newsletter

12 August 2024

Daily Newsletter

12 August 2024

Asos, Microsoft announce three-year collaboration on AI tool

UK online retailer Asos announces three-year project in collaboration with software provider Microsoft to drive data-driven decision-making and efficiency with AI.

Rachel Lawler August 12 2024

Under the new deal ASOS will use Microsoft’s generative AI tools to remove ‘busy work’ and free up time for creativity.

Asos’ director of technology Victoria Arden explained: “A core part of our business strategy is driving operational excellence within ASOS: making sure we’re as fast, efficient, and effective as we can be, and investing our time and resources in the projects that matter.”

The two companies have been working together for several years, with Asos making use of Microsoft’s AI capabilities to support its digital platforms and decision-making.

Asos has been using Microsoft’s Azure software and its AI capabilities to support its data-driven decision-making, speed and efficiency since 2022.

Olaf Akkerman, general manager, retail and consumer goods industry at Microsoft UK said: "It's fantastic to further extend our relationship with Asos after many years of collaboration. Asos has been an early adopter of AI and is using it in many innovative ways, such as delivering personalised shopping experiences through AI fashion stylists.

“This renewed commitment will bring huge productivity gains, freeing up time so that Asos employees can focus on new, data-driven ways to better serve customers."

Earlier this year, Asos launched customer testing for its AI Stylist – an OpenAI-powered experience helping customers discover new outfits. The software was built using early access to Microsoft’s generative AI tools to reflect Asos’ brand and tone of voice.

Papinder Dosanjh, director of AI and machine learning at Asos added: “AI and machine learning are already transforming how we work at Asos, whether it’s supporting better demand forecasting, helping with data-driven decision-making, or powering our recommendation system – delivering billions of product recommendations to our customers per day.”

Last month (July) the Laboratory for AI in Design at the Hong Kong Polytechnic University announced it had created AI-based Textile Material Inspection Technology that should be ready for the fashion industry to use within the next four years.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

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