by Apparel Resources News-Desk
07-June-2019 | 1 min read
After a dismal Q4 (January-March) during which many fashion retailers saw low growth in same-store sales, the fashion brands and retailers are counting on end-of-season sales.
Renowned fashion retailers including Lifestyle, Brand Factory and Central have now advanced end-of-season sales and in the process are offering 50 per cent discount on merchandise this month as the pressure is built to enhance their top line.
These firms have been using different strategies varying from flat discounts to cash backs and other lucrative offers. The message is clear and that is to extend the sale period and sell the inventory.
In the week ahead, other big names such as Shoppers Stop and V-Mart too are set to join the race to commence their end-of-season sales.
The start has been good and corroborating on the same, Kishore Biyani, Founder and CEO, Future Group, said “The response so far has been good and the sale period would be extended for a few more weeks to capitalise on the momentum.”
Notably, for most of the apparel retailers, the average same-store sale growth has been floating between 3 and 9 per cent in Q4, which is much lower than what it was in Q3 (between 8 and 20 per cent).
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