Price war has disastrous impact on Dutch clothing retailers

Dutch Bank (ABNAmro) released a report on June 12 that 40% of consumers prefer to buy clothes during the discount season. Dutch clothing retailers are starting low-price promotions earlier than ever this year, and the price war is against the Netherlands. Disastrous effects for clothing retailers. According to statistics, the bankruptcy rate of Dutch clothing retailers increased from 0.45% in 2007 to 0.83% in 2012, and is expected to reach 1% in 2013. In 2012, Dutch clothing sales fell by 11% and dropped by another 10% in the first quarter of this year. Although summer promotions have been launched in May, clothing sales are expected to continue to decline in the second quarter.