While department stores have faced intense pressures from Amazon and the growth of online sales more generally, consumers continue to head to brick-and-mortar, off-price chains in healthy numbers, keeping the performance of that sector stable.
Off-price retailers sell racks of second-hand merchandise, closeouts, last season’s products, overruns and returns from other apparel companies at rock-bottom prices. The rapidly shifting inventory and “treasure hunt” experience help draw shoppers in. Furthermore, while apparel sales account for the bulk of sales at off-price chains like TJ Maxx, Ross Dress for Less and others, many companies are looking for ways to increase their product mix, with the home products category gaining popularity.. . . more