An analysis of three-year's worth of data showed the impact of marking down apparel.
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Fung Global Retail & Technology managing director Deborah Weinswig partnered with First Insight to dive into more than three years of pricing and consumer preferences data on the women’s wear market. After crunching the data, the analysis revealed the impact of a market flush with markdowns that seem to be changing consumer behavior.
“On average, across all women’s wear categories tested between January 2013 and June 2016, consumers were willing to pay only 76 percent of full price,” the authors of the report noted. “Consumers not seeing the value at full price is a key driver of the markdown challenge that has been plaguing retailers and brands.”