Bargain hunters are in their element right now. Because this year has not been as successful as planned for many retailers, they are giving discounts of up to 70 percent on their products. The warehouses have to be emptied to make room for the autumn goods that have already been ordered.
The motto is now or never. Sales are mainly in the fashion sectors, which change their range every season and need space. Prices are falling, especially in fashion, shoe and sports shops. On average, 200 euros in turnover is spent. In many places, the sale has not yet reached its peak.
The discounts will be increased again significantly towards August
The sales usually start with smaller promotions and lower discounts on individual product groups or collections. Swimwear, for example, is already being sold at high discounts, as customers traditionally buy it at the beginning of summer and not towards the end of the season. Towards August, the discounts become higher and extended to other product groups. In the current heat wave, people are more likely to go to the toilet than to the fashion stores, and therefore there are still many cheap offers available.
The changeable weather in the spring has contributed to the fact that the stocks of summer clothing in textile shops are larger than planned. The enormous competition from Chinese online providers also slowed down the turnover. The turnover remained below the previous expectations. The entire non-food trade experienced a nominal and real decline in turnover again in the first quarter of 2024, and since then it has only improved very slowly. “At the moment you see a lot of red prices in the fashion retail trade, across the entire range,” says Rainer Will, head of the industry association. A welcome exception were the buying impulses that retailers received from the European Football Championship. “Ultimately, we expect an additional turnover of around 150 million euros,” says Will. The electronics trade in particular managed to significantly increase turnover in the TV segment.
Last sales week from July 22nd to 27th in Designer Outlet Parndorf
At Designer Outlet Parndorf, people are very satisfied. Shopping activities are often combined with holidays there. The longer opening hours – until 9 p.m. during the week – also have a positive effect, because it is a bit cooler in the evenings. The summer sale runs until the end of August. Another highlight is the Final Sale Week from 22 to 27 July, where our guests can discover even more offers,” explains centre manager Mario Schwann.
“We are making room for the new collections and there is a large selection of summer shoes for women, men and children, reduced by up to 50%,” reports Deichmann manager Silvia Kosbow. Sandals, mules, but also trendy canvas shoes and espadrilles, which are particularly popular this year, are available. Many bags and accessories are also discounted.
“We are reducing items for which we have excess stock by up to 70 percent,” explains Unito boss Harald Gutschi (Universal, Quelle, etc.). Selected product ranges, such as the current swimwear, are being reduced by 25 to 30 percent. In addition, an offensive was launched for many capital goods (e.g. furniture and technology) and prices were reduced by an average of around five percent compared to the previous year, despite inflation. Gutschi: “Price reductions are necessary to achieve acceptable sales when buyers are cautious.”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
