Holiday season yet to bring cheer to apparel retail

Now along with low consumer sentiment, physical retailers are battling online discount wars. No wonder, they are yet to witness growth in sales during the holiday season that kicks start before Christmas. While there was a 15 to 25 percent like-to-like growth in pre-Diwali shopping, December has seen lower than expected footfall at stores/malls..

For instance Arvind Lifestyle Brands having labels like US Polo, Nautica, Arrow and others under its fold, was expecting over 15 percent rise in sales during the pre-Christmas shopping season. While retailers are seeing some activity as the Christmas is approaching, it is muted than expected.

Retailers are hoping that this week leading to the year-end would puch-up sales. For examples, mall developers claim that with holidays starting this week, they would definitely witness heightened footfalls and sales as families would step-out to enjoy the festive spirit in malls while shopping for Christmas and New Year. Many fashion labels have also extended their discount sales by 10-15 days to clear their inventory.