Retailers are discounting as heavily as if it were Black Friday or Cyber Monday
As a result of widespread temporary and, in some cases, permanent store closures across the U.S., inventory pileups are forcing retailers to offer rare discounts on full-price goods.Between March and April prices for apparel dropped by 12% — that’s four times higher than what is typically expected for this time of year, according to the Adobe Digital Economy Index ADBE, +2.78%, a report which analyzed one trillion online transactions across 100 million product categories.
“Apparel is experiencing discounting in April that is akin to the scale of discounting that certain categories experience during the Black Friday through Cyber Monday holiday sales period,” according to a report last week by Adobe. Related:‘Where else am I gonna find a $145 sun dress with grapefruits on it?’ J.Crew will have to slash prices to get people to buy their clothes, analysts say
“With Memorial Day weekend on the horizon, shoppers can expect to see some of the best offers all year long for things like mattresses, select appliances, home and garden and even automotive items,” Skirboll added.
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