The Sars outbreak has forced retailers to hold the earliest ever spring and summer sales in Hong Kong.
To cope with the decrease in sales, fashion companies have come up with aggressive discount promotions as a quick way to attract customers.
Retailers such as Joyce, Seibu and Swank are already offering 20 to 50 per cent discounts on selected merchandise, while contemporary wear boutique I.T. has introduced a coupon scheme that entitles shoppers to two $1,000 cash coupons redeemable upon future visits for every $2,000 spent.
Nelson Chan, menswear buyer at Swank, said the spring season usually started in February when new merchandise arrived in the stores.
'We are looking at an unprecedented season this year, with companies already offering up to 50 per cent discount,' he said. 'The crisis that we are looking at this season has never happened before.'
In the fashion sector, high-end luxury conglomerates such as LVMH and Gucci have predicted a decline in sales; casual-wear retail giants such as Giordano and Esprit have announced a 25 to 35 per cent plunge in sales since the outbreak.
