Retailers like Loft, American Eagle, and Saks Fifth Avenue are continuing unprecedented sales both in-store and online in an effort to get rid of excess inventory
, many are still struggling with piles of excess inventory — prompting continued deep discounts both online and in-stores. at brands like Gap, Victoria's Secret, Madewell, and American Eagle early in the coronavirus outbreak in April, several others have followed suit, both on their e-commerce sites and at reopened physical stores. However, while these deals may look appealing to consumers, retail experts warn of the lasting reputational and long-term damage of deep discounting.
Still, that hasn't stopped brands like Loft, for example, which recently launched a 70% off sale online, selling items like jumpsuits for as low as $10 at final sale. Others, like Tom's Shoes, implemented a 65% flash sale, with a section on its website dedicated to footwear under $25, significantly lower than its average prices.
"All of this is pretty much going into the past season already," Hwang said of the Saks Fifth Avenue assortment on Wednesday. "I'm curious to see what the store's going to look like in September. I'm sure they'll find ways to fill the store but they're not going to have as much product because a lot of designers were canceling."Bethany Biron/Business Insider
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Why Getting Rid Of The Aunt Jemima Brand Isn't EnoughTo simply announce the rebranding of Aunt Jemima and state their solidarity with the Black community still doesn’t compensate the women used to inspire the brand in the first place.
Lire la suite »
As Spain welcomes back tourists, this tiny island finds ‘hearts divided’ between hope and anxiety“On the one part we need tourists…on the other part, there is some fear and some anger.' Spain is allowing some tourists to visit its islands. But with no ICU beds or ventilators, residents of this tiny island have mixed feelings about reopening.
Lire la suite »
TikTok Pitches Hard to Brands, YouTube Focuses on TV ScreensBoth TikTok and YouTube made their virtual pitches to advertisers at the annual NewFronts marketing conference.
Lire la suite »
Second wave of shutdowns prove reopening won't save restaurants - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Lire la suite »
The Drive Thru: New bankruptcies, protests at Adidas, and the slow reopening of NYC - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Lire la suite »
As states reopen, smartphone data shows some reluctance to go out - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Lire la suite »