As Barney's goes bankrupt, average product discount hits all-time high
Big-name retailers are having a rough go of it this holiday season - Barney's ($BARNEYS) has already filed Chapter 11, Saks Fifth Avenue's parent company sold out to duck the retail apocalypse and Macy's is probably sweating declining foot traffic figures.
But who should be thankful, this time of year, is the consumer.
As Bloomberg's Kim Bhasin points out, deals are soaring at Barneys's, which is on the precipice of reducing headcount and footprint and closing stores as part of its asset sale. According to Bhasin, deals will rise to the 30% to 35% discount range, which is above where they have risen to at last tally - as of November 24, the average deal crossed the 20% off threshold.
With the countdown to Black Friday on, it will be worth watching to see if market leaders - or market laggards - try to dial up deals to steal market share at the holiday season.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.