Secret To Success For Off-Price Stores Is Thrill Of The Hunt, Retail Analysts Say

GLENDALE (CBSLA.com) — It’s the thrill of the hunt that retail analysts say is driving shoppers to off-price stores like Marshalls, T.J. Maxx, and HomeGoods.

Their profits are soaring while many department stores are suffering.

“One of the things that we found is that the reason that a lot of consumers are using these bargain stores is because they do like the lower prices but actually they like the experience as well,” said Neil Saunders, a retail analyst for Conlumino.

Analysts say consumers at off-price stores believe they are getting a great deal for their money.

Marshalls, for instance, compares its prices with suggested retail prices on their tags.

“I’ll go into Nordstrom Rack and then I’ll find something that’s like designer name that’s like let’s say $100 cheaper there than at a different store,” said Hera Der-Gevorgian, a shopper.

And retail analysts say department stores sales often can’t compete.

Read more and see the video at CBSLA.com.

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From 94.7 The WAVE

12 Things You Didn’t Know About In-N-Out
Video Interviews
The WAVE's Sunday Brunch

Listen Live