Consumers make hay while discounts linger

The ‘End of Season’ or monsoon sales are here again. Consumers are rushing in to make the most of this opportunity by utilising their weekends to shop for their favorite brand. Heavy and extended discounts coupled with flat 50 percent off days

at some malls are attracting huge crowds across metros.

Brands

are offering merchandie almost half the rates

And almost every Indian and foreign apparel as well as fashion accessories label is participating in the discount season this time. From a Zara to a Vero Moda or Tommy Hilfiger, brands are offering merchandise almost at half the rates. On the first two days after the sale season kicked off, the rise in footfalls at malls and retail stores have resulted in a sales jump of around 50 percent in some cases.

Given the fact that slow economy, inflation and low consumer buying had affected summer sales, inventories piled up with brands and retailers while consumers patiently waited for the bargains. They jumped at the opportunity as soon as brands announced their clearance sale. Brands such as Paul & Shark, Kenneth Cole, Diesel, Timberland and Quiksilver are offering discounts of up to 50 percent. Overall positivity owing to festive and wedding seasons ahead has cheered the brands and retailers alike, since around this period, consumers splurge on shopping.

With a tremendous response pouring in, retailers now expect inventories to get over or to be significantly lower by the end of the sale season making way for fresh stocks. Experts also point out that this sale season has been the best period so far.

However, the current trend also means that consumers will throng stores only when they get good discounts or bargain deals. How far is this it going to help the apparel industry in the long run remains to be seen. Of course, the industry doesn’t have an answer to this question, but for now, it wants to celebrate the boom in demand that’s keeping sales registers ringing.