There is one thing, at least, that consumers agree on, regardless of age or sex: Off-price stores are the place to go.
Nine out of 10 U.S. adults shop at off-price stores, according to an ICSC Research report titled Consumers Flock to Off-Price Stores. Off-price retailers include the likes of Burlington, Marshalls and T.J.Maxx. They are as popular among Millennials (94 percent of whom patronize them), as among Gen X-ers (93 percent) and baby boomers (88 percent). And that popularity is divided about equally among men (90 percent) and women (91 percent).
Nine out of 10 adults shop at off-price retailers, the survey found
The quality and the style of off-price store items are just as good as those of other types of stores, according to 79 percent of shoppers.
About half of the overall respondents said they frequent off-price stores more than they do other types of retailers, with 62 percent of them saying they go at least once per month. More specifically, nearly one-quarter visit these stores about three times per month. Some 18 percent visit once per week. By generational group, Millennials visit most frequently, with 74 percent of them shopping at these stores at least once per month, versus 58 percent of Gen-X shoppers and 55 percent of boomers.
About 60 percent of these shoppers cited everyday low pricing as the top reason for patronizing off-price retailers, and 71 percent of them said they go to browse for bargains rather than to seek specific items.
Apparel is the most popular item bought at off-price retailers: Clothing tops the shopping lists of 62 percent of these consumers across all the demographic groups. Clothing is favored particularly among the boomers, by a rate of 68 percent, versus a rate of 63 percent among Millennials and of 55 percent among Gen X-ers.
Some three-fifths of these shoppers say that more of their off-price store visits result in a purchase than do their visits to any other type of retailer. This is particularly so among those earning less than $35,000 annually; nearly 70 percent of these say that their visits result in a purchase.
By Edmund Mander
Director, Editor-In-Chief/SCT
