Off Price Retail Market, By Product Category (Apparel and Footwear, Home Goods, Electronics, Beauty and Cosmetics, and Others), By Price Range (Low-end, Mid-range, and High-end), By Demographics (Men, Women, and Children), By Distribution Channel (Brick-and-Mortar Stores, and Online Retail), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : May 2024

Code : CMI6007

Pages :165

Formats :

Excel and PDF

Industry : Smart Technologies

Market Concentration and Competitive Landscape

Off Price Retail Market Concentration By Players

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Changing Shopper Preferences Stimulate Multichannel Growth

Customer shopping preferences and behaviors have radically transformed over the past decade with the rise of ecommerce and online platforms. Off-price retailers recognized this evolving landscape and proactively expanded their multichannel strategies. Where once shoppers would exclusively hunt for discounts at brick-and-mortar outlet stores, now off-price chains seamlessly integrate the in-store and digital experiences to meet consumers wherever most convenient. Features like buy online pickup in store, free shipping minimums, and mobile apps allow busy households to conveniently discover deals, plan purchases, and execute transactions however fits their schedule. Retailers also gain invaluable shopper data and insights from robust websites and apps to better tailor assortments and messaging. Customers coming online initially for information gathering or inspiration increasingly complete transactions via the digital channels. During COVID-19 quarantines, off-price businesses with versatile ecommerce infrastructure were able to continue operations and maintain cash flows while many competitors shut down.

Key Players Insights