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The worldwide COVID-19 pandemic has caused many retailers to close their physical stores, causing a sudden increase of excess inventory. Nike (NKE) alone saw an inventory spike of 7% in the fiscal quarter ending February 2020. Retailers are turning to different measures to keep business afloat.
Almost half of the online merchandise for U.S. mall stores is on sale this week. Refinitiv discovered this in a collaboration with StyleSage, which analyzes retailers, brands, online trends and products across the globe. The discount penetration (how much of the assortment is on sale) rose