For shoppers the sale season continues as several promotional offers by retailers are still going on unlike previous years when they ended by mid-February.
For shoppers the sale season continues as several promotional offers by retailers are still going on unlike previous years when they ended by mid-February. Brands like H&M, Zara, Vero Moda, Marks & Spencer, among others are continue to offer discounts or promotions on select items. For instance, H&M and Zara have a tag in their stores saying mid-season-sale and are offering discounts on select items. Zara is offering flat 50% discount on select items while H&M has a large section of the store displaying items on sale with apparels starting from as low as `500.
Marks & Spencer is offering denims and jeggings saying buy one and get the second one at half the price. Brands like Lee are exhorting consumers to try its newest range of body optix denim and win gift voucher worth `500. Vero Moda is offering one top free with purchase of two tops, Wrangler says shop for `5,995 and get gift voucher worth `1,500 or shop for `4,495 and get gift voucher worth `750. Eastern wear brand Seven East is offering up to 50% off on select items. Besides apparels, watch brand ASPEN, Anne Klein too have 50% off.
Analysts say that with stiff competition from online retail as well as international brands like H&M, Zara, entering the country the retail scenario is changing. Individual brands and retailers are trying to attract customers by offering sales. Sunil Shroff, CEO, Viviana Mall said, “In January-February most of the retailers offered end-of-season-sale across malls which continued till end of February. The move helped retailers witness around 15% to 20% higher sales during this period compared to last year. While the flat sale across brands is over, many brands are continuing with promotional offers and sale on select merchandise to gain customer loyalty.”
Aggressive discounts are likely to impact the margins of retailers by at least 15 to 20%, while sales may have increased by around 20%, Rajat Wahi, partner and head, consumer, retail and agri sectors, KPMG, told FE. Rajneesh Mahajan, executive director, Inorbit Malls, said, “At Inorbit too select brands are continuing with sale and promotions while the fresh stock for summer is on display.
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This helps the retailers to attract customers and showcase their new range of fashion. This time, the duration of sale was longer than previous years. Around six-week sale used to happen in previous years, while this time it continued for almost eight to nine weeks and many retailers announced sale ahead of the schedule. The focus is to drive sales and recover money from the dead stock”.