To stock or not to stock — that is the question Michael Kors and Ralph Lauren are asking
Getting it right "This holiday season is more critical than the recent past to get this right," Bassuk said. "There’s a lot of speculation about whether retailers are really able to manage inventory properly in the world of omnichannel." Michael Kors and other upscale brands are still using discounts to drive sales. But they’re aiming to be more targeted with their promotions. Michael Kors CEO John Idol has pledged to cut the number of days with big promotions by as much as 65% this quarter. The company is currently offering 25% off purchases, but that deal ends on December 12. Building an impression of scarcity is key for high-end brands. To that end, Michael Kors lowered its number of stock-keeping units by 12% in December month, according to research firm Edited. Less is more Overall, there’s little sense that promotions have abated this holiday season. In the week leading up to Black Friday, the number of marked-down apparel and accessories was up threefold from the same period ...
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