{"id":165952,"date":"2020-03-25T18:33:00","date_gmt":"2020-03-25T18:33:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/covid-19-prompts-surge-in-fashion-discounting\/"},"modified":"2021-08-06T12:05:11","modified_gmt":"2021-08-06T12:05:11","slug":"covid-19-prompts-surge-in-fashion-discounting","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/covid-19-prompts-surge-in-fashion-discounting\/","title":{"rendered":"COVID-19 prompts surge in fashion discounting"},"content":{"rendered":"
Year-on-year price comparisons show UK\u00a0fashion\u00a0retailers are discounting stock at \u201cunprecedented levels\u201d<\/strong> since the COVID-19 crisis hit, according to data and analysis from LovetheSales.com<\/a>.<\/p>\n <\/p>\n The strict lockdown measures for \u201cnon-essential retail\u201d have put many fashion businesses in jeopardy,<\/strong> especially those without an online presence, but even those which do have an e-commerce business to partially fall back on are being forced to slash prices earlier in the season like never before.<\/p>\n Many would say, SS20 was already looking tough before the outbreak really took hold, and retailers had already started to discount. But that is now rapidly escalating.<\/p>\n LovetheSales.com helps consumers shop the online sales through one website,\u00a0 tracking more than 6m full-price and discounted products across 1,000-plus global retailers.<\/strong> It said that between 19-25 March, 2020, the number of products discounted online increased by 21% compared to the previous week and by 40% compared to the same period last year.<\/strong><\/p>\n Some categories fared worse than others, and discounts have been particularly large in footwear and accessories. In the seven-day period to today, 25 March, men's footwear discounts rose 30% on the week<\/strong> and 31% on the year. Women's footwear discounts grew to an even bigger 34% on the week, and 39% on the year. And discounts on women's accessories rose 31% compared to the previous week and a massive 71% year-on-year.<\/p>\n