Summer sales have already started this Thursday in the main chains of the Inditex group (Zara, Oysho, Massimo Dutti), Mango, H&M, as well as in El Corte Inglés.
These sales are key for the textile sector, which has been unemployed for three months, and has only been able to sell through the online channel. Many businesses need to dispose of the accumulated stock during this time. The sector expects to obtain a turnover between 20% and 25% lower than last year.
Although traditionally the sales start on July 1, many chains have advanced them to today to take advantage of the weekend. El Corte Inglés, for example, had anticipated significant discounts, to mitigate the impact of the crisis. Other groups, such as Tendam (formerly Grupo Cortefiel), H&M and Mango, had already started their promotions, with discounts of up to 60%.
El Corte Inglés has brought the sales down to Thursday with the aim that customers "can make their purchases in a calm manner, without crowds and with more available store space". This year the campaign is called "New times. New sales" and emphasizes the social distancing that this new return to activity marks.
The Business Association for Textile, Accessories and Leather Trade (Acotex) expects a 25% lower turnover this year. "The sales are more diluted than ever" this year, the president of Acotex, Eduardo Zamácola, told the EFE agency, who believes that, although at first customers will be encouraged to buy, then sales "will deflate" . Acotex forecasts a drop in sales at the end of the year of between 25% and 30%.
The sector fears that there will be a price war, given the current situation, although there are some chains, such as Inditex, that have managed to manage the stock during these months of slowdown in physical stores. In the case of the Galician chain, which presented results two weeks ago, it closed the first quarter with an inventory 10% lower than a year earlier thanks to this rationing.
The decision to allow or not the discounts in physical stores generated much controversy during the de-escalation, as the government initially decided to ban them to avoid crowds, but there was a disparity of criteria between the ministries of Health and Commerce and Tourism. Finally, it was decided to allow them, after several changes of opinion in a few days.
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