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Off Price Retail Market : Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Off Price Retail MarketThe global Off Price Retail market size is projected to reach USD 450540 Million by 2027, from USD 236080 Million in 2020, at a CAGR of 8.7% during 2021-2027. Key drivers of the off-price retail market include the advent of online shopping and booming Gen Z consumers.
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The covid 19 impact has accelerated the demand for off-price retailers which in turn will fuel the growth of the off-price retail market. The various advantages of off-price retail will drive the growth of the market in the coming years.
The benefits of off-price retailing
Off-price retail stores are seeing a massive jump in sales owing to several factors. Retailers sell brand names and designer products at half of the original price. Consumers are able to get bargain deals whenever they want thereby removing the need to wait for annual sales. It is like a treasure hunt as the customer is not aware of what they are going to buy. This will bolster the growth of the off-price retail market in the forthcoming years. Users are always excited about the best deal, price, or item. The entire industry relies on excess inventory. The ever-changing stock allows them to serve the customers better than non-essential retailers. Brands are able to extend the product lifecycle and sell the unused stock thereby helping them to maintain a healthy cash flow statement. The supply chain does not go to waste.
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Off-Price Retail Market Share
Based on type, the segmentations include retail apparel, and footwear, home fashions, Jewelry and Accessories, and others.
Based on sales channels, online sales, and offline sales.
Based on region, North America is expected to dominate in the off-price retail market share due to the presence of key players and booming online shopping.
By Type
• Retail Apparel and Footwear
• Home Fashions
• Jewelry and Accessories
• Other
By Sales Channel
• Online Sales
• Offline Sales
By Company
• TJX Companies
• Ross Stores, Inc.
• Burlington Stores, Inc.
• Nordstrom Rack
• Macy's Backstage
• Saks Off 5th
• Bluefly
• GEO CLEAR
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