Key Points
The deals on clothes, electronics and footwear that have been enticing shoppers to splurge may reduce significantly, as retailers including Aditya Birla Fashion and Retail (ABFRL), Arvind and V-Mart have ruled out deep discounts in a move to spur profits...
Madura Fashion, which manages brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England, said that during the second half of the previous fiscal, especially the fourth quarter, it managed to reduce discounts by 500 basis points to drive profitable growth...
"We also realised that we were quite alright on inventory and we didn't see much elasticity and in discounting," Vishak Kumar, chief executive officer at Madura Fashion, told investors..
In FY24, retail sales growth rate fell year-on-year every month, reflecting weak consumer sentiment across segments such as apparels, footwear and quick service restaurants (QSR)..
Shailesh Chaturvedi, managing director at Arvind Fashions, said that after the pandemic, most retailers are moving to a direct-to-consumer model for online sales, which means they control the merchandise, assortment and price instead of ecommerce marketplaces...
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