2018 has been a tricky one for the High Street. The last few months, particularly over the Black Friday period, proved to be less fruitful than many anticipated. We’ve all heard the headline stat that ASOS has experienced a 40% decrease in share prices.
Generating a successful end of year has therefore been of heightened importance. Across the board, retailers went in with big discounts – between 50%-60% seemed to be the magic number.
Coming in at 50% were brands like Reiss, Urban Outfitters, Next, ASOS, Dorothy Perkins and Ted Baker.
Down at 60% were Karen Millen, New Look, River Island and French Connection.
Topshop went in with a whopping 70%! And with some of autumn key dress trends down to just £15! If anyone’s looking to snap up that all important NYE outfit at a low price, this might be the place.
Whilst most brands qualify their discount with ‘up to’, Allsaints braved a flat 20% off everything – including their existing sale lines. This lead to 2 visible discounts across much of their product set. However, due to their higher original price points, you’re still probably paying around the £100 mark. It’ll be interesting to see how this strategy fairs against the rest.
Mango’s approach was also quite interesting, offering an extra 15% off their sale lines when you purchase 3 items. I’m a big fan of this ‘spend more, save more’ approach. During the sale season, low AOV can be a real sticking point, so attempts to boost this metric are essential. And it keeps things interesting for consumers, who are often more than willing to make a multi-purchase in their bid to make the most of their post-Christmas cash.
Finally, H&M and Zara seem to have gone for a softer approach. Both of their sites were simply advertising the Boxing Day sale with no specific markdowns. Perhaps a smart approach when targeting thrifty Boxing Day shoppers who enjoy the thrill of hunting through lines for the best bargain. Or perhaps this may make these brands less prominent amongst the noise? Only time will tell.
So that’s it – your Boxing Day sale wrap up. Stay tuned for my retail wrap up of 2018. It’s definitely been an eventful one!