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Apparel brands bring discount season early in India
10
Jul '12
Weak sales during the summer season has forced several global apparel brands and even Indian apparel retailers to announce their end of season sale three to four weeks in advance.
 
Several apparel retailers are already offering discounts to consumers, much earlier than usual months of August and September.
 
The end of season sale is normally used by retailers to exhaust their old inventory and get in new full-price stock in time for Durga Puja, Dusshera and Diwali festivals.
 
However, this time the discount sale has been announced well in advanced by retailers as they need capital to source their merchandise, orders for which generally needs to be placed about 100 days in advance.
 
Over the past year, Indian consumers have cut back on their spending due to persistent inflation, among other things. On the other hand, the margins of retailers have been severely stressed due to higher interest rates and cost of production.
 
While apparel retailers are upbeat about the coming festive season, they also fear another bleak year as Indian consumers waited for the discount sale rather than spending during the holiday season.
 
Adding to the woes of the retailers is the boom in e-retailing, as more and more consumers prefer to take e-shopping route rather than step out of their homes to make purchases.
 
Apparel retailers now only hope that they get good consumer response to their early sales.
 

Fibre2fashion News Desk - India

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