Between a global pandemic and major cultural shifts, shoppers rightfully have pressing matters on their minds right now. This has caused significant financial challenges for brands, and according to the experts, the road to economic recovery will be slow. With piling inventory, many companies — even brands like Everlane that rarely mark down products — have recently offered deep discounts to bridge the way through the crisis.
Thus, business leaders face a dilemma between joining the discount frenzy at the risk of damaging their brands and continuing to sell at full price at the risk of alienating customers who are nervous to spend during these trying times.
