Key Takeaways:
- Considering the prominence of Black Friday, and its global reach, tracking the market’s changes is key. To navigate this discount season, monitoring your competitors’ discount rates and the exact timing behind their discount strategies is crucial in strategically positioning your brand on the market and minimizing margin erosion.
- In the era of quiet luxury and the allure of timeless pieces, merchandising teams have a powerful ally in real-time data.
- Lectra’s latest eBook shares some key elements needed to best navigate discounts and stay ahead of a rapidly changing industry.
In the rapidly evolving landscape of the fashion industry, where trends and consumer preferences change at an unprecedented pace, precision and quick adaptability are not only a plus, but they are also imperative to drive brand success. How do leading brands nail discounting each season?
Uncover the secret to discounting smarter, not harder, especially in high-stakes periods like Black Friday and Holiday Sales, delving into the role of AI competitive intelligence in reshaping the fashion industry and helping brands not only adapt but thrive, leveraging real-time data to optimize decision making. As fashion brands are navigating a shifting industry, Lectra’s AI-powered competitive intelligence platform Retviews, has become a game-changer when it comes to mastering collection planning, pricing strategies, inventory management and promotional activities, with real-time market data which ensures that brands lead the charge towards success.
Dive in to get data-backed insights on:
- Mastering the marketing impact of your discounts.
- Nailing discount rates to maximize margins.
- Knowing what and when to discount, maximizing full price sales and minimizing inventory.
- Reclaiming your time for more confident decision-making.