Week 4 – Retailing Management : How and why do retailers take markdowns? What does this mean for consumers?
Expert Answer
Price drops, even if relatively small attracts today’s discerning shoppers who are on the constant active mobile technology, checking and comparing every single price move by the retailers. This price slash is known as a markdown, where consumers experience a discount or a lowered price on products than the listed price. Historically markdowns have been viewed as an inevitable part of business strategy by the sellers in order to help sell old or slow moving inventory.
Even in today’s
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