The global Off Price Retail Market size is projected to reach US$ 424774 million by 2028, from US$ 218235 million in 2022, at a CAGR of 8.19% during 2022-2028. Off-Price Retail Market research report is an expert’s analysis which mainly includes companies, types, applications, regions, countries, etc. Also, the reports give an analysis of sales, revenue, trade, competition, investment, and forecast. Off-Price Retail market research covers COVID-19 impacts on the upstream, midstream, and downstream industries. Also, this study offers detailed market estimates by emphasizing statistics on several aspects covering market dynamics like drivers, barriers, opportunities, threats, and industry news & trends. The Global Off-Price Retail Market size is estimated to reach $14.9 billion by 2026, expanding at a CAGR of 19.3% over the forecast period of 2021-2026.
Off-price is a trading format based on discount pricing. Off-price retailers are independent of manufacturers and buy large volumes of branded goods directly from them. The off-price retail model relies on the purchase of over-produced, or excess, branded goods at a lower price, thus being able to sell to consumers at a discount compared to other stores which purchased an initial run. Among the largest retailers of this type are TJX Companies and Ross Stores. The model is more common in countries that import fashion-oriented or household goods, as the discount role in producer countries is usually filled by factory outlets or small-scale open-air marketplaces.
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Global Off-Price Retail Market: Segmentation Analysis
By Type
· Consumer Electronics
· Food Retail/Grocery
· Apparel & Footwear
· Durable Good
· Furniture and furnishing
· Others
By Application
· Internet Sale
· Store Sale
Geography
· North America
· Europe
· APAC
· RoW
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Key Players:
· Hexagon
· IBM
· Cisco
· NEC
· SAP
· Esri
· SAS
· Nice Systems
· Splunk
· Verint Systems
Key Developments in the Off-Price Retail Market: -
- To describe Off-Price Retail Introduction, product type and application, market overview, market analysis by countries, market opportunities, market risk, market driving force
- To analyze the manufacturers of Off-Price Retail, with profile, main business, news, sales, price, revenue and market share
- To display the competitive situation among the top manufacturers in Global, with sales, revenue and Off-Price Retail market share
- To show the market by type and application, with sales, price, revenue, market share and growth rate by type and application
- To analyze the key countries by manufacturers, Type and Application, covering North America, Europe, Asia Pacific, Middle-East and South America, with sales, revenue and market share by manufacturers, types and applications
- To analyze the manufacturing cost, key raw materials and manufacturing process etc.
- To describe Off-Price Retail sales channel, distributors, traders, dealers etc.
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Impact of COVID-19 on Off-Price Retail Market
The outbreak of the COVID-19 pandemic has not only resulted in halted production activity but has also disrupted the global supply chain. In a downturn scenario, people buy off-price to save money when the economy is poor; however, when the economy is strong, people shop off-price since they have money to spend. However, the pandemic year/s were markedly different, with off-price businesses being less protected from macroeconomic conditions. They were not immune, for example, to supply chain problems elsewhere or, more lately, inflation. Some also saw their marketing damaged by name brands pulling back in favor of selling directly to customers, a trend that is also affected their full-price department store competitors. Furthermore, several off-price players had specific problems this time, as they have little to no e-commerce and were hit particularly hard when stores were temporarily closed for prolonged periods.
On the other hand, select players could grow during the tumultuous period. For instance, TJX Cos. net sales increased by 27% over 2020 and 14% from two years ago to $13.9 billion, while comps at open locations increased by 13% compared to two years ago. The company’s net income increased to $940.2 million from $325.5 million the previous year. This was due to the robust e-commerce presence of the company, which enabled an increase in international sales.
Detailed TOC of Global Off-Price Retail Market Research Report 2022
1 Report Overview
2 Global Growth Trends
3 Competition Landscape by Key Players
4 Off-Price Retail Breakdown Data by Type
5 Off-Price Retail Breakdown Data by Application
6 North America
7 Europe
8 Asia-Pacific
9 Latin America
10 Middle East & Africa
11 Key Players Profiles
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
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