ASOS active customers down 16% to 18 million: How retail customer data can signal problems before earnings

ASOS’s interim results for the 26 weeks ended March 2, 2025, show active customer numbers down 16% to 18 million, average order frequency unchanged at 3.41, and average order value up 3% to £42.38. The article recommends that investors first look at the directions of active customer numbers, order frequency, and marketing spend in the KPI table: revenue growth alongside declining frequency means growth is coming from new customers, while stable frequency alongside a shrinking customer base indicates customer attrition rather than existing customers becoming inactive. Companies define active customers differently, so comparisons across periods for the same company are more reliable.