Since 2020 and the Covid-19 crisis, the same question has come up for traders: how will the sales take place? This consumption highlight begins this Wednesday and will continue until July 19
, in a context this time of inflation not seen for more than 30 years. The director of the economic observatory of the Institut Français de la Mode (IFM), Gildas Minvielle, knows the sector perfectly, but cannot see that it is “difficult to know exactly” how consumers will present themselves during these summer sales.
On the stock market in any case, the heavyweights of “fast fashion”, such as Boohoo, Asos, Zalando, or even Inditex (Zara), despite the insolent financial results of the Spanish giant, have been looking gray since the beginning of the year: their prices fell by 45%, 60%, 66% and 24% respectively. Performances to be compared with the European Euro Stoxx 50 index, which lost 20% of its value.
Household morality at half mast
Sandra Hoibian, Director General of the Research Center for the Study and Observation of Living Conditions (Credoc), for her part recently estimated that if consumers with tighter purchasing power cannot significantly reduce their food expenditure, they will “cut pleasure buying”.
The morality of households, which plays into their desire to consume, has also been hard hit since the beginning of the year, which began with the Omicron variant, recalls Gildas Minvielle. Added to this was the conflict in Ukraine and the rise in inflation in many expenditure items, energy, transport and then food.
The environmental factor
In addition, ask yourself the question of stocks, which the sales period should allow you to use up. In a very uncertain context, companies have also shown themselves to be more cautious in their orders and have favored closer sources of supply, such as Morocco, to meet demand more quickly and more efficiently.
Last factor of uncertainty: the environmental concerns of consumers, who are turning massively to the second hand. Stéphane Rodier, also treasurer of the National Clothing Federation (FNH), believes that the very principle of the sales must be rethought. “Producing in large volumes that we then have to sell off to get rid of is not at all ecological”, he regrets, calling for “global reflection” to bring out “viable solutions that do not do not consume for the sake of consuming”.
The sales are staggered from July 6 to August 2 in the Alpes-Maritimes and from July 13 to August 9 in Corsica. Overseas also has its specific dates.