- Vivian Hendriksz |
London - Black Friday 2017 shopping frenzy is set to kick off today and although British shoppers are expected to spend 10.1 billion pounds during the week, fashion retailers will have to up-end their sales approaches as a late start to winter weather may impact their sales.
Sales of casual outerwear and accessories, which normally are flying off the shelves during this time of year have stagnated due to the unseasonably warm weather. Which is why more fashion retailers are set to use Black Friday and the holiday shopping period to help clear their inventories for more desired stock.
Fashion retailers, such as Zalando, H&M and Asos have already begun discounting, with the German etailer offering flash sales in its premium, sports, winter and partywear sections in the run-up to Black Friday on November 24. Asos is offering up to 60 percent off of selection jackets, knits and denim while H&M is offering 30 percent off selection basics and denim as well as free delivery.
Sellouts of outerwear items, such as jackets and coats, were down 40 percent in October, despite a 7.6 percent increase in new arrivals year-on-year, according to data from retail analytics company Edited. Although there was an 18.7 percent increase in thicker, warmer coats, like quilted and puffer jackets, discounts and sellout rates are currently lagging behind in comparison to last year. With Black Friday campaign starting on Friday, fashion retailers are expected to drop prices.
For example, there as a 66 percent increase in the number of times coats were mentioned in retailers newsletters in October 2017 compared to 2016. "Retailers couldn’t have anticipated this year’s warmer weather, and therefore stocked according to 2016 sales," commented Katie Smith, senior retail analyst at Edited. "By scrutinizing the data in real-time to understand this discrepancy, retailers can make immediate changes to their strategies during the year’s pinnacle shopping season."