Q: I’m already seeing a lot of buzz about Black Friday sales in the news. How much should I expect to mark down this season, given that some of the bigger retailers are offering steep discounts?
A: We’re expecting markdowns among our menswear retailers to be similar to last year’s. You don’t have to go to mark down severely to compete, but you do have to offer promotions that drive business.
Keep your eye on what your direct competition is doing, and make sure your promotions are in line with theirs. For more tips on holiday promos, see our Top 5 Dos and Don’ts of Holiday Marketing.
Date answered: 11/17/2010
Question raised by: Joe