The continued softness of consumer demand, coupled with huge oversupply, has produced the most promotional retail market we have ever seen. Our research shows that right now just 32% of non-food retailers are trading without any promotion whatsoever. What was the norm until a few years back is now increasingly rare. We are launching a weekly Tracker to measure trends in who is doing what, when.
Our new Promotional Tracker shows an upsurge of retailers introducing Christmas sales events right now across non-foods. The last week of October saw 16% of retailers with Christmas promotions. The first week of November we found the number up to 32%. Nevertheless, price promotions remain the dominant message and 50% of retailers are still focusing on price cuts, 6% down on the week before.
A key change comes in fashion. Here, an incredible 58% of stores had price promotions in the final week of October, falling to 45% in the first week of November. A significant number of players have started their Christmas promotions, rising from 12% the previous week up to 22%. Nevertheless, this underlines how the vast majority of the clothing market is keeping Xmas powder dry.
While most of the major department stores have kicked off Christmas, there are some notable exceptions still holding back. Some sectors have also yet to turn to Christmas and remain totally focused on price promotions.
Detailed analysis of promotions each week can be found in the premium content of the website. For access details, get in touch at email@example.com