Meaning : End of financial year sale
Category : Business
Sub Category : Retail
Type : Initalism
What does EOFYS mean or stand for ?
End Of Financial Year Sale is a retail store gimmick that is used to lure potential customers into a frenzied shopping. Huge discounts are posted and is coincided with the holiday season sometimes so that the general public can spend more. However the financial year ends on March 31st and in order to show higher sales for the current financial year as well as clear out existing stocks, these mega sales are held.