Courtesy of ModeSens
- An increase in luxury sales indicates that more people than ever are looking to invest in high-end pieces.
- Krystle Craycraft, CMO of ModeSens, says the two best times to buy designer correspond with end-of-season turnover: the end of fall/winter and spring/summer.
- Fall/winter historically has better prices, due to additional holiday discounts.
As Business Insider’s Mary Hanbury previously reported, luxury fashion is on the rise.
Whether you’re splurging on a single, high-end item or you’re a regular consumer looking to get the best value, one key question remains: When is the best time to buy designer?
For Krystle Craycraft, Chief Marketing Officer for online fashion assistant ModeSens, a platform that compares products and prices across 12,000 luxury brands and 160 stores, the answer isn’t a complicated one.
"For consumers who are more price savvy, and may want the latest styles but definitely not wanting to pay full price for it, the best time to shop is usually two times a year," Craycraft recently told Business Insider. "That’s May through July and then November through January."
Courtesy of ModeSens
This simple logic aligns with the endless cycle of designer launches during fashion weeks. Craycraft said that as these sales seasons progress, markdowns increase, reaching as high as 80% in some cases. Holding out for those sales, though, is not without a downside: When customers wait for more discounts, they also risk shopping from more limited inventories, especially in regard to size and color on popular items.
Craycraft noted that winter sales are the best, as they are often combined with holiday promotions.
"May through July is really just when designers mark down," said Craycraft. "Because the November through January time frame overlaps with the holiday season, there are usually more discounts on top of the markdowns. It’s a really generous time to shop."
Courtesy of ModeSens
Despite these bi-annual trends, there’s always the possibility of outlier sales.
"Throughout the year, because of the way that designers sell through retailers, the pricing can be different," said Craycraft.
See Also:
- I visited the Chanel store in SoHo the day after Karl Lagerfeld died, and it was clear why the brand has been an icon for nearly 100 years
- A chief marketing officer who works with 12,000 luxury brands says consumers are caught up in ‘logo-mania,’ and it’s helped a famously flashy brand make a huge comeback
- Karl Lagerfeld owned around 1,000 of the high-collared, white shirts that defined his iconic look — here’s how you can make your own work uniform
Source: Business Insider – feedback@businessinsider.com (Marissa Perino)