Discounting news and archive

Discounting continues post holiday for inventory-heavy brands

What do Nike, Nordstrom, Amazon, Target and Levi Strauss have in common? Large inventories that continue to be discounted after Christmas in order to lower the stock glut. Target is a prime example with its latest bold promotional event, aptly called the “Target Clearance Run”, offering up to 50 percent of on certain categories. Substantial...

RetailFeatured

Why many retailers are facing excess inventory this season

Shifts in consumer behaviour are difficult to forecast, with many largescale retailers facing excess inventory this season. As shoppers shifted from buying into comfortable fashion categories that were high in demand during lockdowns, retailers needed to have invested into occasionwear as much as casualwear, less on homeware and perhaps more on...

Retail

Macy's opens Backstage at Herald Square flagship

Macy’s Herald Square’s 8th floor is now home to a new tenant, but one the department store chain is all too familiar with. Macy’s Backstage, the company’s off-price retail chain, has officially opened, bringing the magic of Macy’s discounted offerings to Manhattan. This marks the first Macy’s Backstage in Manhattan. The new space delivers a...

Retail

Data shows retailers are discounting early to clear 2020 stock

With a second wave of Covid-19 lockdown restrictions to contend with, retailers must navigate the holiday and discounting season with data to be able to respond as quickly as possible. According to retail data intelligence experts Edited, Black Friday reductions are being offered early. In Europe Italy is aligning the number of products reduced...

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How retailers can capitalise on Black Friday

Black Friday may be a saving grace for many retailers, who to date faced a tumultuous year and are currently navigating lockdown 2.0. For fashion businesses, Black Friday may be an opportunity to sell older and slow-moving stock ahead of Christmas and the heavy discounting season. Discounts are deep Data analytics giant Edited in its latest...

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Sale of the century: how retailers should approach discounting in crisis

In the UK, the spring summer discounting season is already hailed as the sale of the century. Not since the financial crisis in 2008 has so much product remained unsold. Unsurprisingly retailers are desperate to offload their stock. Many began discounting in March and April, at the start of lockdown when governments ordered stores to be closed....

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The end of January sales as we know them

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...

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...

Report |FOLLOW UP

Another 3 reasons why Asos is so succesful

London - Some may say that fashion retailer Asos is one of a kind. The British e-tailer has managed to steer clear of all the challenges faced by its high street rivals and achieved a 33 percent increase in revenues to 1.9 billion pounds for the year to August 31. Profits before tax grew 145 percent to 80 million pounds, as Asos increased its...

Report

Fashion prices on the cusp of rising as retailers kick off mid-season sales

London - UK shop prices are said to be on the edge of increasing according to the British Retail Consortium, as retailers struggle to balance the higher import costs. Shop prices declined by the smallest amount recorded over the last four years in September, falling a mere 0.1 percent in comparison to the 0.3 percent year on year drop in August,...

Fashion |OPINION Featured

Discounting costs luxury its cachet

London - Discounted luxury fashion and designer deals found in second tier stores may do great things for a company's profit margins, but ultimately they damage the cachet of the brand. Customers who are willing to spend four digits on a designer handbag at full price may be alienated when the same bag can be purchased for half price at...

Fashion |STUDY Featured

Finding the sweet spot in discounting

In a perfect retail landscape, brands and retailers would be able to order the exact number and style of products to satisfy consumer demand, without fear of ending up with an surplus. However, since we live in a volatile world which is constantly changing, certain practices of the industry such as discounting and sales are unavoidable. Although...