Retviews data showcases an interesting difference between these popular categories, all of which have an evidently similar out-of-stock rate, their discount rates and the volume of discounts being vastly different. Among the most discounted categories stand occasion wear pieces skirts, dresses, and blazers, with an average of 42% of the skirt category being discounted at an average rate of 18% across leading retailers’ collections. On the other end of the spectrum stands loungewear, as only 27% of sweatpants are discounted, with an average discount rate of 11%.
Is there a large amount of leftover stock in occasion wear, provoking higher discounts, as brands invested in the consumer shift for the holiday season - which was put on hold by the Omicron variant, inevitably putting a damper on holiday parties and the dressier styles shoppers were excited to flaunt?
Don't Miss Out - Stay Ahead of the Industry
Discount strategies vary vastly among different countries and key markets, which in turn makes pinpointing the ideal strategy to avoid waste and maximize margins crucial for fashion retailers. Knowing how to tackle different regions is an essential factor in optimizing a brand’s retail strategy and getting ahead of competitors as the fashion industry is experiencing a vast shift, driven by factors such as logistic issues, pandemic recovery, and circularity.
Fashion retailers are using the automated benchmarking solution Retviews to stay ahead of the industry shift, monitor competitor strategies, adapt their own pricing, and discount strategies and in turn be able to optimize performance in the industry. Don’t miss out on getting ahead of the changing industry - find out how automated benchmarking can help your brand tackle discounts and nail the perfect retail strategy.