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Boo’s target market are living with mum and dad or off their student loan. Trust me they’ve got plenty of spare cash, all this caution for the future by boohoo and asos is rubbish and only planted seeds of doubt where there shouldn’t be any. Obviously the future is uncertain but people will always need clothes. People’s weight is fluctuating as well cos they can hardly get access to a gym and constantly ordering food from just eat. They need those instagram likes to feel accepted. Sad but true.
But let's not forget. Couple of things, Boo is diversifying - Oasis, Warehouse, Karen Millen and who knows which other brands they have in their sites - all different market dems, hence more bases covered, one offsetting the other, dependent on prevailing market conditions etc. Regarding the bank of mum, dad, gran, grandad etc, they either know or don't or do but won't admit to how persuasive and manipulative their offspring can be. If the parents and grandparents don't/won't spend it, their offspring will for sure find a way to do the spending for them. They are addicted to fast fashion in the same way as others are addicted to other stuff. When it comes to the next fix, there's always a way.
The target market for boohoo are largely living off their parents. Of this there is no doubt - especially in America.
The target market for boohoo dont have any money this time around. Hence why ASOS and Boohoo have stated that the market will slow down.
Imo yes it will drop but not as much as last time and should bounce back if it can continue sales, tbh for the share price I'm more concerned about more skeletons should they exist but overall hopeful in the mid to longer term.
People have more spare cash because they can’t spend it on holidays or nights out. Your average 18 - 25 yr old will spend hundreds per month on drink and drugs every Friday and Saturday night then blow a few grand in Magaluf, again getting off their t*ts. They can’t do that now so are instead staying in on instagram and dating sites. They need that little dopamine rush somehow and buying some cheap clothes to show off online is one way to hit that spot. Trust me if you’re sitting at home bored u start browsing the shopping sites. Its the one last pleasure these poor souls have left. Boohoo are doing a huge service to society and I think we’ll see Sir Mahmoud Kamani and Dame Carol Kane very soon
Not groundless I work for an online company and I monitor sales daily and they are exploding right now
..."we’re forecasting November to be beyond insane as people stay in and buy presents etc."
This breezy sentiment appears common but it's groundless optimism: people will stop spending once cash becomes tight and jobs become scarce. All retail will be hit by this. The shape of the second wave will not effect equities in the same way as March.
I don’t think this will be anywhere as bad as a lockdown as we had in March. So I would say the opposite. People in wales can’t even buy clothes as they are non essential in stores like Tesco etc. The demand to online is forever growing and clothing is seasonal . regardless of lockdown or not people will buy jumpers and garments for the the winter. So I see boohoo doing well over the coming months and once the market has priced in global uncertainties.
I work in online and these past two weeks have exploded and we’re forecasting November to be beyond insane as people stay in and buy presents etc.
Covid has boosted sales beyond expectations and were expecting November to be the busiest month yet this year with massive YOY growth.
Covid is horrible but for online companies it has accelerated our growth massively and as we look at other onliners and use google analytics it is easy to see companies like BOO and ASOS are also benefiting
This will drop along with the whole market if there is a crash. However, it will likely rebound quickly if trading remains robust compared to things like airlines who will stay down for a long time. All imo.
If a market wide crash happens the tech/digital onliners will generally hold up.
The first lock down was an unknown but it’s now a known fact that with lock down online companies absolutely boom and post record sales as people still have money to spend, infact generally even more money than usual and that money goes to online companies.
Boo, Asos, Amazon, Peleton and many others have all posted earnings at or above expectations due to a large shift to online.
We’re entering peak season where people normally head out to buy presents but this year that is not happening and people shall be doing their shopping online more so than ever due to the risk of catching covid so online companies will boom along with online food companies and courier companies will all have upbeat earnings so RM, Ocado etc shall boom.
Anything high street bases will suffer but there could be some amazing recovery stock bargains to grab or take a punt on.
Boo come of this year early next year will most likely revisit 400p and if they sort all the issues it can achieve 500p
In March as the UK moved towards lockdown boohoo and asos both crashed as hard as most. As it started to become clear they weren't likely to be hit hard (and would possibly gain) from the lockdown the share prices rapidly rose.
Now we know that boohoo has been benefitting from the new landscape do we think this time the same will happen or they will escape a general market crash and actually rise against the backdrop?