Off-price retailers are outperforming apparel retailers
T.J. Maxx, Marshalls, Burlington and Ross Dress for Less have been winners for the past few years, boasting consistent year-over-year (y-o-y) foot traffic growth, according to Placer.ai. And the success of off-price is not just limited to apparel — discount home furnishing chains have also been outperforming their full-price counterparts.
Following several years of economic uncertainty, shoppers have adjusted their spending habits to focus on cutting costs where possible. And the off-price segment is reaping the benefits of this consumer trade-down.
T.J. Maxx, Marshalls, Burlington and Ross Dress for Less all saw consistent y-o-y visit growth between June and October 2023, a metric that becomes even more impressive given the strength of the segment’s foot traffic in 2022.
Some of the visit growth is likely due to the of