The biggest discounts in the history of retailing are taking place before our very eyes. Even luxury stores like Saks and Neiman Marcus are playing the game. If it's full price, it's on sale.
The other day I'm at Somerset with my kids are we walking by sweaters at Saks. The entire collection is 50% off and it's right after Thanksgiving. Customers aren't even interested at looking at them let alone buying them. A year ago they would have been snapped up.
If 50% is no big deal, what about 60%? What about 70%? We walked around the store and found just about everything on sale and customers seemed fazed and not motivated to buy.
Online retailers are offering free shipping on any size order and huge discounts. Consumers are being inundated with sales, special offers and the like as never before.
Here are my questions of the day: At what point is the discount big enough for you to make a decision to buy? Another question: Knowing the specific goods on sale now, can you buy them at full retail again later? And finally, what products will you buy at full retail price?
I know one product category that is doing very well at full retail price: Alcoholic beverages. As Jimmy Buffet says, "It's Five O'clock somewhere!"
Happy Tuesday!
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