In a bid to boost sales, businesses associated with the fashion sector have been observed announcing discounts much ahead of their scheduled time this year. Generally, these establishments begin their discount processes from the month of July. However, due to rising inflation and international geopolitical complexities this time around, they have been seen offering discounts earlier than scheduled.
According to sources in the industry sector, sales volume in the country’s fashion segment has decreased by 30% over the past two months. Due to the price hike of petrol, diesel, CNG, LPG, and daily essential commodities, a large majority of consumers are currently shying away from extra expenditure.
An impact has been observed on the sales of fashion brands under these circumstances. Therefore, with the objective of increasing sales, nearly six leading fashion brands and online retail platforms like Myntra, Nykaa Fashion, and Flipkart are offering up to a 40% discount on various items in the fashion segment.
Ahead of July, Myntra, Nykaa, Flipkart Offer Early Discounts to Tackle Fashion Slump
