Not yet end-of-season, but discounts abound

CHANDIGARH: Market forces, not exactly global financial slowdown, are about to make winters quite hot among shoppers. So if you are among those waiting for the end-of-season sale that starts around January end, its already time to go on a shopping spree.
While a number of shops, especially in Sector 17, have already started offering discounts, there are also some big brands offering discounts for the first time.So brands like Dockers, Tommy Hilfiger and Reebok that seldom sell goods on sale too are expected to lure customers with winter sale offers this season. As Darpan Kapoor, spokesperson for the Business Promotion Council of Sector 17, said, We predict 20-25% sale offers this time, which is reasonably well. There is rise in competition amongst the traders and to sustain themselves they have no option but to offer attractive schemes.
Market observers also opined that fall in exports may also be forcing brands to clear their stocks locally. Added to this, traders said decrease in fuel prices and low lending rates by banks have also increased cash flow in the market. As JPS Kalra, general secretary, Traders Association, Sector 17, noted, Top brands want to clear their old stock as recession has affected business. But customers have started feeling more comfortable after banks reduced their interest rates. Coming up of malls with branded apparels has also forced traders to start early sales. There is a sense of competition as every trader wants to be the first attracting customers, added Kapoor.
Another interesting point, as traders pointed out, is that tourists, who form a major chunk of buyers in Sector 17, have not come in large numbers this season, and therefore city residents would benefit from it. We do not want decrease in tourist inflow to hit sales. So most of the brands will come up with more schemes and discounts, said Subash Kataria, president, Traders Association, Sector 17.