Efforts to cut bloated inventories are now paying off. 🔐
Stuck with a backlog of merchandise due to the coronavirus outbreak, retailers slashed prices on apparel and have been pushing the goods online. Their efforts to cut bloated inventories are now paying off.
The total number of transactions for the most recent period showed a 25 percent gain in the U.S. This compares with a 15 percent revenue gain and 29 percent transaction gain for pure-play e-commerce retailers in the U.S. With the Emarsys and GoodData data, it’s unclear what percentage of sales is from retailers such as Walmart and Target that have stores open, and curbside delivery.
Looking globally at the sales data, revenue of online fashion apparel and accessories in Italy rose more than 80 percent for traditional retailers for the most recent period reported while pure-play e-tailers saw sales gain 13 percent. In France, apparel sales jumped 14 percent at traditional retailers and 61 percent at pure-play e-tailers. In the U.K., online fashion apparel sales remained down, posting a 4 percent year-over-year decline. But at pure-play e-tailers, sales soared 49 percent.
This week, macys.com has apparel at 40 percent off, with free shipping on orders of $25 or more. Kohl’s is touting Levi Strauss & Co. tops and bottoms at 40 percent off as well as assorted Nike, Adidas and Under Armour items of 25 to 30 percent off.
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