Europeans Are Dressing Down as Inflation Bites, Zalando Says
- Outlook worsens for Europe’s largest online clothing retailer
- Mid-priced sales have weakened, online retailer says
Zalando expects revenue and profit will be in the lower part of its 2022 forecast range.
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European consumers are hunting for bargains, buying cheaper clothes as inflation crimps the budgets of many households, according to Zalando SE.
Europe’s biggest online clothing retailer said it’s seeing the first cracks in consumer spending as rising expenses lead shoppers to choose entry prices over mid-market clothing. More well-heeled shoppers are still opting for pricier clothes, however.