Several lifestyle, apparel and footwear brands have started mid-season and flash discounting, weeks before the usual end of season sales (EOSS) to clear unsold inventory after demand faltered over the past two months.Historically, retailers launch EOSS by June end before fresh season merchandise hits their shelves. However, brands have now either started cutting prices or will initiate a sale period in the coming week. "Based on the sales done in previous year, many retailers stocked items expecting similar momentum," said Lalit Agarwal, chairman of hypermarket chain V-Mart. Despite May showing some improvement, retailers have started discounting earlier than the normal schedule. "Retailers have also advanced their sales to compete with online retailers that are already offering discounting ahead of their mega sale."

Source: Economic Times June 12, 2023 15:11 UTC