In an aggressive Black Friday move, PrettyLittleThing slashed its prices by 99%, making headlines with a £20 dress sold for just 20p.
- The promotion included ten items priced under £1, which were rapidly snapped up, highlighting consumer demand.
- Boohoo Group, facing financial pressures, similarly slashed prices by up to 93% to garner shopper interest.
- Discounts were fleeting, lasting only an hour, yet resulted in swift sell-outs for highlighted items.
- This aggressive pricing war underscores the intense competition among retailers to attract attention during Black Friday.
In a bold move to capture shoppers’ attention on Black Friday, PrettyLittleThing, owned by Boohoo Group, reduced prices of selected dresses, tops, and skirts by an unprecedented 99%. This staggering discount saw a pink cut-out mini dress, previously priced at £20, being sold for a mere 20p. Such dramatic price cuts immediately caught the eye of consumers eager for bargains. The company listed a total of ten clothing items each priced at less than £1, including a black sheer bandeau mini dress originally at £22 now selling for just 22p, and a sheer brown camisole top reduced from £12 to just 12p.
The flash sale went live just after midday and was valid only for one hour. Products were quick to sell out, demonstrating a surge in buyer demand within moments of the sale’s commencement. This was not PrettyLittleThing’s first foray into extreme discounting, having previously launched similar aggressive price cuts during Black Friday 2020.
In a parallel strategy to appeal to deal hunters, Boohoo Group offered up to 93% off on various items. For instance, a tropical print bandeau top and diamante gold-trim bikini brief saw reductions from £15 and £10 to merely £1. These bargains were also swiftly purchased.
The deep discounts from Boohoo Group coincide with significant financial hurdles, as the company reported a pre-tax loss of £147.3m for the six months leading up to 31 August 2024. In response, Boohoo sought to raise £39.3m through a share issue earlier in the week, indicating broader financial restructuring efforts.
These price-slashing tactics reflect the broader competitive landscape among retailers during the Black Friday period, where capturing consumer interest through aggressive pricing is pivotal.
The intense competition of Black Friday sees retailers slashing prices to vie for consumer attention, as demonstrated by PrettyLittleThing’s striking 99% reductions.
