BERLIN--(BUSINESS WIRE)--Apr 10, 2025--
The fashion industry is navigating inflationary pressures by adopting strategic discounting strategies, according to a recent report by 7Learnings in collaboration with Dealavo. The report analyzes price data from 966 brands and 1,006 retailers across 2023 and 2024, revealing key trends in pricing and discounting.
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Key Findings: Strategic Discounting and Price Convergence
The report shows that while overall prices increased in 2024 due to rising costs, the rate of increase slowed compared to 2023. Retailers are using discounts more strategically to maintain affordability and competitiveness, rather than implementing broad price hikes. This approach allows them to offer value to customers while preserving brand image.
Another significant trend is the convergence of pricing strategies between brand websites and marketplaces. Historically, brands had higher prices on their platforms, but they are now aligning with marketplaces to remain competitive. This shift reflects increased pressure and changing consumer expectations.
AI in Pricing Optimization
The report also highlights the role of artificial intelligence (AI) in optimizing pricing strategies. AI tools enable retailers to make data-driven decisions, tailoring discounts to consumer behavior and market conditions. A case study featuring Tamaris demonstrates how AI can reduce overall discount rates by 5%, enhancing profitability without impacting sales volume.
Promoting Data-Driven Strategies
Felix Hoffmann, co-founder and CEO of 7Learnings, emphasizes the importance of data-driven strategies: “Our analysis shows that fashion companies leveraging AI and modern technologies can optimize pricing and remain competitive long-term. This report provides valuable insights and practical recommendations for improving pricing and discounting strategies in the coming year.”
Outlook and Recommendations
Looking ahead, the report advises fashion companies to focus on targeted, data-driven discount strategies and AI-supported price optimization. This approach will help increase profitability while maintaining consumer engagement. Retailers should move away from broad seasonal promotions and make targeted adjustments based on demand forecasts and market analyses.
About 7Learnings
7Learnings provides an AI-powered pricing platform that helps retailers predict pricing impacts, determine optimal prices, and reduce manual labor by up to 80%. Founded in Berlin in 2019, its clients include international companies like Westwing, Bonprix, and Tom Tailor.
Fashion price index 2023-2024
SPRINGFIELD, Ill. (AP) — The driver of a car that barreled through a building used for a popular after-school camp in central Illinois, killing three children and a teenager, was not under the influence of drugs or alcohol and may have had a medical emergency, police said Thursday.
No decisions have been made on whether to file charges against the 44-year-old driver, Illinois State Police Director Brendan F. Kelly said at a news conference. The driver is not in custody, Kelly said.
Evidence that she may have had a medical emergency was “not conclusive” and the investigation is ongoing, Kelly said.
The car went off the road Monday, crossing a field and smashing into the side of the building in Chatham used by Youth Needing Other Things Outdoors, also known as YNOT. It traveled through the building, striking people before exiting the other side.
Six other children were hospitalized. Four of them remained hospitalized, including one in critical condition, a state police spokesperson said after Thursday's news conference.
Those killed were Rylee Britton, 18, of Springfield, Ainsley Johnson, 8, Kathryn Corley, 7, and Alma Buhnerkempe, 7. All of the children were from Chatham, a community of about 15,000 outside the Illinois capital of Springfield.
The driver was not injured but was taken to a hospital for evaluation after the crash, Kelly said. She voluntarily submitted blood and urine samples that tested negative for drugs and alcohol, he said.
“Some evidence has been developed indicating the possibility of a medical emergency leading up to the crash,” Kell said. “However, the investigation of this information and other evidence has not yet concluded and will continue until all leads and research have been exhausted.”
He would not elaborate on the possible health issue or say what evidence investigators have indicating a medical emergency may have occurred. He also would not say whether the driver was conscious and alert when emergency responders reached her.
Security camera footage showed the vehicle was “a substantial distance” away when it left the roadway, said Jamie Loftus, founder of YNOT Outdoors. It crossed the field, a road, the sidewalk and YNOT’s parking lot before crashing through the building “with no apparent attempt to alter its direction,” Loftus said earlier this week. The vehicle then crossed a gravel road and crashed into a pole and fence.
Kelly said the vehicle traveled more than 1,300 feet (396 meters) but would not elaborate and also would not say how fast the vehicle was moving.
He said he could not provide a timeline for completing the investigation and said charges, if appropriate, would be up to the Sangamon County state's attorney.
Associated Press writers Scott Bauer in Madison, Wisconsin, and Sophia Tareen in Chicago contributed.
Illinois State Police Director Brendan F. Kelly speaks at a news conference Thursday, May 1, 2025, in Springfield, Ill., about the car that crashed through an after-school program in Chatham, Ill., killing multiple children. (AP Photo/John O'Connor)
Brandy Fletcher leaves flowers at the scene after a car barreled through a building used for an after-school camp Tuesday, April 29, 2025, in Chatham, Ill. (AP Photo/Erin Hooley)
An overhead view shows the scene where victims were killed when a car barreled through a building used for an after-school camp, Tuesday, April 29, 2025, in Chatham, Ill. (AP Photo/Erin Hooley)
Police tape is left at the scene after a car barreled through a building used for an after-school camp Tuesday, April 29, 2025, in Chatham, Ill. (AP Photo/Erin Hooley)
Damage is visible at the scene after a car barreled through a building used for an after-school camp Tuesday, April 29, 2025, in Chatham, Ill. (AP Photo/Erin Hooley)
