Press commentary on discounting in times of economic uncertainty. Read the article.

“Realistically, if your brand is struggling, all these rules about discounting go out the window,” said Richie Siegel, founder and lead analyst of the consultancy Loose Threads. “I am not a proponent of discounts in a normal retail environment,” he went on, “but this is not a normal retail environment.”

In Siegel’s eyes, brands now must implement as many new approaches as they can if they want to survive the next few months. Companies that relied on one message and a simply marketing approach may be left in the dust. “I worry that companies are being too precious right now,” he said. “In one month or two months they are going to regret that because they have inventory burning a hole in their pockets.”