End-of-season sales click with retailers

Mumbai | Published: December 29, 2018 5:26:33 AM

During Christmas, Mall of India saw a footfall of over 1,10,000, DLF Place in Saket had over 1,00,000 people and Promenade recorded over 65,000 — Pushpa Bector, executive VP & head, DLF shopping malls.

The trend of end-of-season sale (EOSS) a week before Christmas was seen this year and retailers seem to be a satisfied lot and hopeful that new year’s sales will also be buoyant.

By Rakshita Sareen

The trend of end-of-season sale (EOSS) a week before Christmas was seen this year and retailers seem to be a satisfied lot and hopeful that new year’s sales will also be buoyant. The end-of-season sale offers started from December 20 this year across all DLF malls — DLF Mall of India (Noida), DLF Promenade (Vasant Kunj, Delhi), DLF Place (Saket, Delhi) and DLF Cyber Hub (Gurugram).

“During Christmas, Mall of India saw a footfall of over 1,10,000, DLF Place in Saket had over 1,00,000 people and Promenade recorded over 65,000,” claimed Pushpa Bector, executive vice-president and head at DLF shopping malls.

On a normal day, when there are no discounts or festivities, the footfall in Promenade and Saket malls is 40,000, and 55,000 in Mall of India, Noida, she added.

While commenting on the early discounting season, Pushpa said, “Winter as a season in Delhi is starting late. This is the same thing that we saw last year. The season does not set in before mid-December so brands take out the winter merchandise, which comes in November, on sale. This has become an annual event and the winter merchandise gets liquidated in this manner because no one wants to hold on to it for long.” The footfall for DLF malls increased by 15% in December and the sales across all brands grew over 20% in comparison to December 2017.

“We have seen highest numbers, both in footfall terms and sales. I am expecting the new year footfalls to be equally high because trends of the footfall have been very positive this year. The months of December, January and February are also expected to do well, for two reasons. One reason being EOSS and also that the winter season got delayed and another reason is that the marriage season is all the way till March,” Pushpa added.

Virtuous Retail South Asia (VRSA), a Singapore-based retail portfolio management firm, is aggressively expanding its pan-India portfolio which currently includes its flagship centres, VR Surat, VR Bengaluru and VR Chennai. The VR malls also recorded their highest footfalls and sales during Christmas.

“We recorded the highest footfall of almost 45,000 people this Christmas, an all-time high for us in Bengaluru, and in Chennai, we got over 75,000 and 65,000 in VR Chandigarh. This shows that Christmas and EOSS combined really have an impact,” said Pankaj Renjhen, the chief operating officer at VRSA.

While talking about the regular days, Pankaj stated they receive footfalls of around 30,000-35,000 during weekends and 12,000-15,000 on a weekday in VR Bengaluru, which is home to brands such as H&M, Max, Splash, ProjectEve, Adidas, Amante, AND, Forever 21 and many more.

Rajneesh Mahajan, CEO of Inorbit Malls, a part of K Raheja Corporate group, that has shopping malls in Mumbai, Navi Mumbai, Hyderabad, Bengaluru and Vadodara, also agreed on growth in sales and footfalls and said, “It may be too early to compare growth, but we are definitely seeing positive traction, with growth in footfalls and sales. The discounting is higher, with brands offering between 40-51%”.

K Raheja group’s departmental store chain, Shoppers Stop, that hosts many fashion brands, also saw a 20-25% growth in sales during the initial days of EOSS.

Uma Talreja, chief of marketing & customer officer of Shoppers Stop stated this year’s sales season was good due to the boost in growth from festivals and general holiday mood. The brands are offering up to 51% off and some brands have also extended the discount numbers from 50% to 70%.

Similarly, Lifestyle stores, Landmark group’s fashion retail chain, is also offering up to 50% discounts across brands such as Forca, Louis Philippe, Van Heusen, Jack & Jones, CODE, Ginger, Melange, Vero Moda, ONLY and others.

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