Fashion stores in the premium segment increased their sales by 78 percent during Black Week and Cyber Monday compared to the average week during the fall. It shows figures taken from Purply Retail's index. The contribution margin landed at 44.8 percent, which gives an average discount during the week of less than 20 percent.
Black Week and Cyber Monday are one of the year's most important and largest trading periods for the fashion industry, and already today, November 29, Purply Retail can report the figures for the stores included in the index. Turnover increases overall by 78 percent compared to an average week in the fall, and the contribution margin lands at 44.8 percent. If we separate physical and digital trade, we see that physical trade increased by 70.8 percent and digital by 328 percent.
Biggest week this year
Black Week is thus the biggest week of the year so far in terms of sales and was almost 14 percent bigger than the start of the summer sale in June. In addition, the contribution margin was a few percent higher than during the start of the sale last summer.
Average discount below 20 percent
Margins are often discussed during Black Week and Cyber Monday. In Purply Retail's index, we can see that the average discount lands below 20 percent. However, you should remember that not all stores have promotional prices throughout the week. When compared with the start of the sale in June, we can see that the average discount was lower during Black Week, even though sales were significantly higher.
Greater increase in digital channels
During Black Week and Cyber Monday, turnover in the store chains' digital channels increased by 328 percent compared to the average week during the fall. This also increased the share of turnover via the digital channels to 14.6 percent during Black Week, to be compared with approximately 8 percent during a normal week. This without us taking future returns into account. If we look at the contribution margin, we can see that it was the same in the stores as it was online. Our observation is that there were no specific online campaigns among the stores in Purply Retail.
Sweaters and outerwear popular
When it comes to product groups, sweaters and outerwear dominate both on the women's and men's side. Next week, we will take a holistic approach to the entire Black Friday period and see how much sales are affected in the weeks before and the week after. The team at Purply Retail