Have you ever wondered why such discounts on fashion products? Have the fashion industry got trapped?
If you look closely at the fashion industry, they are not using sales as real sales, but they are offering as a marketing technique to attract customers.
Let’s get deeper into the topic of why there are 50% or more discounts on fashion.
What is a 50% discount on fashion?
When it comes to fashion, most people will be aware of how to spend their money on fashion. About 65% of people are only interested in clothes purchasing and the other 40% try to decrease the cost of spending on the clothes.
Even the country’s two biggest e-commerce stores such as Amazon and Walmart have announced discount offers that range from 50% to 80%. They have announced offers that come with a limited period and the main reason behind all their offers is to expecting sales by 8 times during this period than the normal days.
For example, the fashion industry will announce the discount offers like;
If the original price of the cloth is $2000
Then the discount offer will be 40%
The other benefits include free shipping
And the sales hours will be 48 hours
The amount you will pay is $1200
Even though you will be saving $800 but still the fashion industry has made a profit by selling the products within a shorter period by announcing the discount offers and limited period.
Why the fashion brands always announce the sale?
While crossing the fashion stores or streets, you would have noticed that there will be boards hanging on the wall that mentions 50% off or sometimes more. Have you ever wondered why the fashion industry is not announcing sales at a specific time?
But if you look closer, you would have noticed all these discounts and offers are clearly a marketing strategy. The fashion industry depends on two factors, the one which is mass production and the other is economic of sale.
So, the fashion industries always try to sell a large number of clothes so they always end up using the basic strategy which is offering MORE clothes for FEWER prices.
Other industries always offer 50% discounts or more only at the time of special events, but industries like fashion will announce the discount rate at any time possible. As per the amendment of the law in 2001, the fashion industries are allowed to offer discounts during any time of the year.
Here is another important reason for announcing frequent sales in the fashion industry. As we all know that fashion is the only thing that keeps on updating so in order to dismiss the old collection as quickly as possible, the fashion industries will be announcing 50% discount or more.
Cool deals on the clothing
As we all know that the fashion industry will be announcing 50% discount sales or more during all the season, but the offer will really be cool during the sale season.
The sale of winter wear will start in the month of January even though most people start to wear winter clothes in February. If the customers will wait for a longer time, then the price of winter clothes will go lower as the fashion industry needs to make space for spring clothes.
When it comes to the shoe category, it is the only thing that will be in sale all through the year. There is no specific time to buy a shoe, as there will be always a great deal no matter what.
There are certain times where the fashion industry will launch the product even before its needs. For example, swimwear will hit the market even before the summer start; it will hit the stores in the month of February.
These kinds of marketing strategies will attract the customers and they will start the shopping earlier leading to high sales.
Sportswear is also a part of the fashion trend, and the sportswear will be on sale during all seasons. But during any occasional events, the fashion industry will announce a huge sale but that comes with a limited period.
For example, recently Puma has announced a discount offer of up to 50% but the offer was limited till February.
Before the summer starts, the sale of the footwear will begin. Even though the clothing industry has faced a loss still the footwear industry has similar peaks in the market. When compared to the overall revenue growth all over the world, it will increase from $365.5 billion in 2022 to $530.3 billion.
The Christmas season or December month is the period where children-related clothing or toys will be in high sale. The stores will offer discounting during that period.
In the clothing category, clothing like tops and shirts, and skirts will start the sales in the market even before the summer began.
It has been noted that the worldwide revenue growth of the clothing store has been decreased from 15.3% in 2018 to 7.6% by 2022. On the e-commerce side, the annual growth of clothing has been projected only to 3.3% between 2017 and 2024.
In order to improve the purchase rate and to upgrade the new style, most fashion industries are announcing discount offers which are 50% or more. But still, the fashion industry needs to set some discount strategies and uses some innovation and ideas to take the profit to the future years.
The fashion industry should know that sales are a kind of short-term marketing tactic and it will come used in emergency situations to increase sales. The customers are psychologically tied to the sales so people will pay more that has lower prices.