- Marjorie van Elven |
January is usually regarded by consumers as the best month of the year to score a bargain, but turns out those heavy markdowns are a dying retail tradition. Retail analytics firm Edited noticed most of the products advertised as reduced in January were already discounted months prior. While retailers still use January to clear dead stock, the heaviest discounts are no longer offered during this month as year-round discounting and Black Friday have become commonplace.
What retailers are doing instead of discounting in January
As a result, fashion retailers such as Asos, H&M and Uniqlo are offering alternative advantages in January, such as free shipping. January is also becoming the time to advertise new arrivals: in the UK, Edited has already spotted an 82 percent increase in new product mentions. Newsletters mentions of new products in the US have also jumped 38 percent compared to last year.
Another strategy many stores are using is to focus on products related to customers’ new year resolutions. As to be expected, activewear and fitness apparel are receiving a hard push from retailers on the first days of 2019.
Pictures: Pexels, courtesy of Edited