Sales start on Tuesday with first-ever post-recession profits forecast
Monday, June 30, 2014 @ 10:22 AM
SUMMER sales on the high street officially start on Tuesday (July 1) and for the first time since the start of the financial crisis, the fashion industry is expecting to see a profit.
Discounts ranging from 30 to 50 per cent can be found in the first week or two, but as the sales progress and stocks become lower, goods at up to 70 or even 80 per cent off are fairly common.
Despite certain industry insiders' views that the government's having relaxed rules on when shops could hold sales means summer and post-Christmas 'no longer have the same ring to them', figures show that more stock is shifted during these two periods nowadays than before the recession.
And with an estimated turnover of 2.7 billion between July and early September this year, it will mean takings are up by 3.5 per cent on summer 2013.
Until July 2012, shops were only allowed to hold sales in summer and just after Christmas, lasting for a minimum of a week and a maximum of two months.
Now there are no limits as to when and for how long sales can be held, but instead of this leading to cut-price deals year-round which take the novelty off finding bargains, in practice it means shops are choosing to start their sales a week or two earlier to increase takings.
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