Facebook Pinterest Search Icon SourcingJournal_horiz Tumbler Twitter Shape photo-camera graph-trend Shape latest-news icon / user
You will be redirected back to your article in seconds

The Markdown Virus is Worse Than Retailers Think

When it comes to sustainability, there is no way forward without a plan. Attend our in-person “Sustainability Summit: Road to 2030” June 1 in NYC. Learn from the industry’s best and brightest, and network to create those necessary partnerships!

What can retailers and brands do to stop the race to the bottom when it comes to markdowns?

First, they need to realize how bad the problem really is.

At a session titled “Markdowns: The Hidden Virus” at NRF’s Big Show Monday, Greg Petro, CEO of predictive analytics platform First Insight, said, in so many words, that the markdown problem is really bad.

In highlighting some First Insight research findings, Petro said over this last holiday season, 70 percent of consumers expected to see markdowns of 31 percent or more when they walked into a store or visited a retailer’s website.

What’s more, one-third of all shoppers visiting retail channels are looking for 100 percent of their purchases to be made on sale.

Read more at Sourcing Journal.

Related Articles

More from our brands

Access exclusive content Become a Member Today!