Aberdeen indie Signature 2 notched up a 12.5% hike in sales for the five weeks to August 22 after introducing a shorter but sharper summer Sale strategy.
The premium casualwear independent discounted deeper than ever before this summer but cut back its Sale period from eight to six-and-a-half weeks. Owner Patrick Ritchie has since vowed not to discount product more than twice a year.
Ritchie was inspired to change the strategy by John Lovering, chairman of department store chain Deben-hams, who said at the beginning of the year that customers were craving special products over the lowest price. Ironically, Debenhams has pursued regular promotions this summer.
Signature 2 stocks Lacoste and Ted Baker. It was rebranded from Attitude earlier this year. Sister store Signature has been trading on
Aberdeen’s Union Street for 20 years and sells premium brands including Hugo Boss, Polo Ralph Lauren and Sand.
Both stores reduced Sale product by 25% and 35% for week one of the sale, upping the discount to 50% for the following fortnight and then finishing at 70% for a week and a half. During the 50%-off period, sales jumped 58%.
“I’m so against special discount weekend deals. The public see through that and you make a rod for your own back,” said Ritchie. “The British public are holding out for the next Sale, so we have been clear and let them know that if they don’t buy now, they won’t get another discount until the winter Sale.”
Although the same strategy was adopted by sister store Signature, sales fell 2.6% over the period. How-ever, Ritchie attributed the decline to the rebranding of Signature 2 from the previous Attitude fascia.
Ritchie added that he was looking to grow the business at Signature with brands including Hugo Boss and Lyle & Scott.