Discount news and archive

Sale and special offers: a closer look at the discounting practices in the fashion industry

Discounting has become somewhat of the norm in the fashion industry today, with clearance culture emerging as the solution to excess stock for many retailers and brands. But could this practice be doing more harm than good? This background piece looks at sale and discounting practices. Contents • In fact, there’s not always a sale on • What...

Business

AI-driven shopping app Yaysay secures 10.3 million dollars in funding

Yaysay, a shopping app utilising artificial intelligence (AI) to provide a personalised gamified experience, has secured 10.3 million dollars in funding in order to launch its Beta mode into the market. The app, co-founded by industry veterans from Casper, Gilt Groupe and Stitch Fix, aims to make off-price shopping a “five-minute daily habit”,...

Business

Asos takes to Secret Sales in bid to right-size stock portfolio

Fashion e-tailer Asos has unveiled a new partnership with non-full-price marketplace Secret Sales, through which customers can shop products from the brand. Secret Sales shoppers will be able to access an initial selection of up to 1,000 products from Asos-owned brands, including Asos Design, Reclaimed Vintage, Topshop and Miss Selfridges, all...

RetailFeatured

Consumers are favouring secondhand marketplaces amid cost-of-living crisis

A new report by Cardlytics has found that consumers are being driven towards discount brands and secondhand marketplaces as the cost-of-living crisis continues to take a toll on UK spending. According to the advertising platform’s State of Retail Spend report, over half of consumers are planning to shop at discount homeware and fashion brands...

Retail

Seven Dials sees the return of annual Winter Festival

The three day shopping event, Seven Dials Winter Festival, has been celebrated in the West End of London. The event, which combines shopping, dining and culture saw a variety of in store offers from independent flagship brands at Seven Dials. 20 percent discount was available in stores such as Emin & Paul, Miller Harris, Coco de Mer, and...

RetailFeatured

Half of global luxury shoppers buy at discount

Half of global luxury shoppers are partial to a bargain. According to the YouGov Affluent Perspective’s Global Luxury Retail Report 2018, half of all global luxury shoppers state they “only buy luxury when it is discounted.” The report, which focuses on the 56 percent of global affluents shoppers who purchase luxury products and services across...

Fashion Featured

Is full price fashion over?

It is well documented that fast fashion brands have had a negative impact on consumer shopping habits. Many customers are no longer willing to pay full price for clothing, with discounting, off-price retail and affordable fast fashion changing the global retail landscape. But never before has high-end fashion had it so tough. Today I visited...

Management |REPORT

Is it time UK retailers ditch discounting for good?

London - Even though Black Friday may not have quite the draw to the high street as it did in the past, in 2017 the discount shopping day boosted online sales across Europe by 509 percent. 47 percent of all womenswear was reduced in price as well, according to the WGSM Barometer, underlining the growing appeal to snag a fashionable deal....

Retail

Retailers prepare for a bumper shopping season with early discounting

London - Fashion retailers across the globe are preparing for a difficult holiday trading season. The rate of discounts has skyrocketed over the past few weeks, according to the latest data from Edited, as online retailers being cutting prices earlier than previous years. The rate of discounts in September grew 2.8 percent in comparison to last...