Raise your hand if you’ve indulged in the sales. I’ll raise both of mine because sales are an important part of our lives. They can even serve as a psychological remedy for the post-holiday blues, making the return to everyday habits a bit more enjoyable, with the bonus of leaving us with a lighter wallet. They are a great opportunity for consumers to snag that expensive fashion piece at a discounted price of up to 50% off. Sellers are also pleased to some extent, if not entirely, as this helps them clear out their inventory in preparation for the spring pre-collections, expected in stores as early as the beginning of February.
In Italy, the sales began on January 3rd in the autonomous region of Valle d’Aosta and on January 5th in all other regions. They are anticipated to impact as many as 15.8 million families, with each expected to spend 306 euros, according to forecasts from the Confcommercio Research Office. The per capita expenditure is about 137 euros, contributing to a total turnover of 4.8 billion euros.
According to a survey conducted by Confcommercio in collaboration with Format Research, 63.8% of Italians plan to make purchases during the sales, often guided by advice found on various social media platforms. Clothing (95.2%) and footwear (86.3%) remain the most sought-after product categories, followed by accessories (46%). Leather goods and luggage items are expected to see the most significant increases compared to last year (+7.8%).
The January 2024 sales are in full swing, offering generous discounts across an array of products, spanning from high-end fashion to homeware
However, the question that arises is whether sales really help luxury brands maintain their image. The experts’ response is a resounding ‘No’, as an image and reputation should not be discounted. Indeed, some fashion houses like Louis Vuitton and Chanel refrain from offering discounts during the sales period, yet their deluxe image remains strong. In any case, even outside the flagship stores of fashion’s powerhouses, such as those on Via Monte Napoleone in Milan, queues remain long whether there are discounts or not. Ah, the compelling influence – and the power – of marketing...
Angelo Ruggeri
Journalist and Master Course Tutor & Fashion Styling Course Leader, Milan