Discount news and archive

Why loyalty, not discounts, is shaping retail’s next growth phase

As the festive rush fades and discount fatigue sets in, many retailers are entering the new year questioning whether traditional promotional playbooks are still fit for purpose. While deep discounts continue to generate short term spikes in traffic, they are increasingly failing to deliver what brands need most: repeat engagement, loyalty and...

Sale and special offers: a closer look at the discounting practices in the fashion industry

Discounting has become somewhat of the norm in the fashion industry today, with clearance culture emerging as the solution to excess stock for many retailers and brands. But could this practice be doing more harm than good? This background piece looks at sale and discounting practices. Contents • In fact, there’s not always a sale on • What...

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Business

AI-driven shopping app Yaysay secures 10.3 million dollars in funding

Yaysay, a shopping app utilising artificial intelligence (AI) to provide a personalised gamified experience, has secured 10.3 million dollars in funding in order to launch its Beta mode into the market. The app, co-founded by industry veterans from Casper, Gilt Groupe and Stitch Fix, aims to make off-price shopping a “five-minute daily habit”,...

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Business

Asos takes to Secret Sales in bid to right-size stock portfolio

Fashion e-tailer Asos has unveiled a new partnership with non-full-price marketplace Secret Sales, through which customers can shop products from the brand. Secret Sales shoppers will be able to access an initial selection of up to 1,000 products from Asos-owned brands, including Asos Design, Reclaimed Vintage, Topshop and Miss Selfridges, all...

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Retail

Consumers are favouring secondhand marketplaces amid cost-of-living crisis

A new report by Cardlytics has found that consumers are being driven towards discount brands and secondhand marketplaces as the cost-of-living crisis continues to take a toll on UK spending. According to the advertising platform’s State of Retail Spend report, over half of consumers are planning to shop at discount homeware and fashion brands...

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Retail

Seven Dials sees the return of annual Winter Festival

The three day shopping event, Seven Dials Winter Festival, has been celebrated in the West End of London. The event, which combines shopping, dining and culture saw a variety of in store offers from independent flagship brands at Seven Dials. 20 percent discount was available in stores such as Emin & Paul, Miller Harris, Coco de Mer, and...

Fashion

Maurices partners with Operation Gratitude to expand commitment to military members

Maurices has announced its partnership with Operation Gratitude in support of military members. Operation Gratitude is a non-profit focused on supporting the military, veterans and first responders. On November 30, Maurices will begin selling limited edition Americana t-shirts online and in stores for 10 dollars, with 100 percent of the net...

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Retail

Half of global luxury shoppers buy at discount

Half of global luxury shoppers are partial to a bargain. According to the YouGov Affluent Perspective’s Global Luxury Retail Report 2018, half of all global luxury shoppers state they “only buy luxury when it is discounted.” The report, which focuses on the 56 percent of global affluents shoppers who purchase luxury products and services across...