ECONOMY

Retailer gets creative in sales pitch

With price cuts failing to stir consumer interest in the midst of the economic crisis, a men’s clothing retailer is offering customers the chance to renew their wardrobe for free in a bid to get shoppers through the door. Customers at men’s apparel and accessories retailer Prince Oliver can return clothing bought three to four months previously and exchange them for new items with no questions asked. The used goods are swapped with new items, to the same value, and then passed on to a charity group by Prince Oliver, which has also lowered its prices in a bid to make the offer more appealing. Prince Oliver hopes the marketing campaign will help the company hold onto market share and shore up revenues at a time when retailers have reported a sales drop of up to 50 percent recently. »Sales and offers are not enough these days. We need to offer additional incentives to get shoppers into our stores and for us to maintain turnover,» Prince Oliver’s commercial director Panagiotis Kalpakas, told Alpha Television recently. The summer retail sales season starts on Thursday and will run through the end of August.