This is the most competitive markdown season we’ve ever experienced. It feels as if retailers are racing each other to the bottom. At most of our local shopping destinations, spring and summer clothing are discounted at least 40% off but the prices of shoes and handbags vary a little bit.
Some boutiques are offering even lower discounts than department stores. For instance, Lanvin and Prada are both offering customers a 50% savings. Below is a comparison chart of Barneys, Bergdorf Goodman, and Saks Fifth Avenue. For the first time, we are adding Neiman Marcus to our local department store list as it’s now open at Hudson Yards.
Bergdorfs currently has the best discounts– when accounting for their extra 25% off through the weekend– and the greatest selection. Next week will be a very big week for the next wave of markdowns usually comes pretty quickly. Stick around and we will be sure to keep you posted.