Retailers, consumers and prices
At Banana, never having to pay full price — until May 1
After becoming accustomed to discounts of 50, 60 or 70 percent, will consumers tolerate paying the full amount listed on a price tag? And if so, when will that happen? And does “full price” now mean selling items for 10 percent to 20 percent below what they were sold for a year ago?
Well, at Banana Republic there will be no full-priced purchasing for select credit card holders until May 1.
The apparel retailer sent a mailer this week to holders of its “Luxe” credit card. In it, the retailer offers an additional 10 percent off any full-priced or sale item when it is charged on a Luxe credit card between Feb. 1 and April 30.
“Just a small gesture to show you how much we appreciate having you as a customer — and a reminder that we’re here for you through thick and thin,” writes Jack Calhoun, president of Banana Republic.
Looks like full price won’t be in full effect until later this spring at Banana Republic.