Despite a huge decline in newness from March to May, the demand for Jackets remained stable. The need to look the part for video conference calls from home has contributed to the steady sell-outs in these months.
With people spending more time outside due to the easing of lockdown restrictions, sell-out for Jackets rose strongly in June. It exceeded last year’s rate by 62%, signalling a renewed purpose for the category.
While most of the brands observed a huge decline in full-price sell-outs, Zara led with a 7% YoY improvement.
Covid-19 posed a challenge for brands to drive full-price sell-out. The number of products on discount from March to May was up by 75% on the same period last year, as brands resorted to discounting to move stock. While total sell-out improved by 8%, sell-out at full price dropped by more than half against last year.
H&M performed poorly with a below-average sell-out rate. The group’s net sales also reportedly fell by 50%, caused by the store closures in Q2.
Cos, the only brand with more newness this year, had 186% YoY increase in sell-out but was predominantly driven by discount.