"Overcoming the COVID Recession"... Fashion Industry's Off-Season Promotions Gain Momentum

[Asia Economy Reporter Yujin Cho] The annual "off-season promotion" conducted by the fashion industry to clear out inventory such as winter down jackets has started nearly a month earlier this year. This is to overcome the worst recession ever caused by the inability to conduct winter and spring sales due to the novel coronavirus infection (COVID-19).

According to the industry on the 22nd, outdoor brand K2 has launched an off-season promotion, selling second-year down leftover products at discounts of up to 60%. From early next month, an additional promotion will be held at offline permanent stores, offering discounts on six popular products released last year, including Agnes and Alice. A K2 representative said, "This year's off-season promotion started about a month earlier than last year, and we plan to conduct it in two phases, including the second promotion starting early next month."

Black Yak is currently conducting off-season marketing for leftover products mainly at department stores, and plans to continue discount promotions at various dealerships from early next month. National Geographic Apparel is also holding a promotion selling winter outerwear released last year at discounts of up to 40%. The discount promotion will be conducted exclusively on the online mall until early next month. This is the first time since its launch in 2016 that National Geographic Apparel is conducting an off-season promotion for leftover products at the brand level.

In line with the untact (contactless) consumption trend, online mall exclusive promotions have also increased. Kolon Sports is holding a premium long padding special exhibition at external affiliated malls such as department store malls. On its own mall, Kolon Mall, last winter's products are being sold at discounts of up to 58%. A Kolon Sports representative said, "We are introducing off-season marketing that did not exist during the same period last year," adding, "We are currently holding discount events for winter products such as long paddings on our own online mall and affiliated malls."

Not only leftover products but also "pre-season promotions," where new products are purchased in advance, are expected to start somewhat earlier this year. Pre-season promotions are not aimed at clearing inventory but at selling new products at low prices ahead of the season. A representative from sports brand Fila said, "We are considering pre-selling winter new products to be released this year in August."

Earlier, Millet also started a promotion pre-selling fleece, a new product for this winter. Millet explained, "This targets early birds who want to purchase winter new products at reasonable prices. The fleece jacket, which has become a trendy item with a sold-out streak since last year, can be purchased at a special price."

This content was produced with the assistance of AI translation services.