German Retailers Plan to Start Markdowns in Coming Weeks
Enlarge image
Shoppers in the Mall
(© picture alliance / dpa)
Shoppers in Germany can hope for lots of good deals in the coming weeks, especially if they are interested in clothing at whopping discounts. “On average, retailers want to reduce prices by 20 percent – even more in the apparel segment, where four out of ten retailers are planning to slash prices by up to 60 percent,” accounting and consulting firm Ernst & Young noted in its “Trade Barometer,” published Friday from its offices in Stuttgart. “The Germans have in the past few years really become a nation of bargain hunters,” said Thomas Harms, a partner at Ernst & Young. He further explained that customers have become accustomed to discounts, and have taken them for granted – meaning that a retailer who does not offer discounts should expect sales losses. According to the survey, more than one in five surveyed retailers wants to offer more deals in the future. Some have already held up to 20 sales this year.
