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Sure. Am I disappointed with how fast we’re growing? No,” says Saidman. “In Europe it’s a much more developed market, similar to America, where you progress from the mom-and-pop stores to the big box stores to malls and eventually the online, and so it’s a different trajectory for us than a country like India [where Amazon Fashion grew quickly from a low base].” That’s partly because shoppers in Britain don’t see Amazon as the place to buy clothes and shoes from. Only 15% of consumers would think of browsing the website for blazers and suits, recent figures showed, and 42% would still simply go there for books. “Amazon is definitely a threat because of its sheer dominance but it’s held back by the fact that it doesn’t have that reputation as a fashion retailer,” says Willmott. It’s not helped by the fact that the website isn’t easy to browse and its indiscriminate offering puts people off. If you type in “black dress” on Amazon’s search box, you’ve got 141 pages of dresses to choose from. Willmott adds: “It’s not inspirational. You do see much more editorial content, the imagery has improved, but it has a long way to go.” Andreas Inderst, an analyst at Macquarie, adds: “With all due respect to them, it’s the Wild West there — you have hundreds of sellers and therefore, as a result, hundreds of results.” In his most recent letter to shareholders, the 20th since the behemoth went public in 2007, Bezos wrote: “Amazon has become the destination for millions of customers to shop for fashion… We’ve had some success over the years… We’ve also had billions of dollars’ worth of failures along the way.” Which category its fashion foray sits in could depend on Bezos sprinkling some of his trademark magic, and investors’ cash, on the venture. If Amazon does become fashion’s dominant player, High Street retailers rather than online rivals will suffer, the City reckons.
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