Friday, October 24, 2014
The outlet rise
I know most of the people if not all may have missed this story about the rise of outlets as the news says that the affluent are also thinking about cutting down on their extravagant ways of shopping and are trying to rein in the budget without seeing as compromising on brands. The news was saying that since the outlets sales are rising much faster than stand alone luxury stores, some of the luxury brands are having their outlets nearby the original stores so that the people don’t have to go far away to shop and in this way you can get the more frugal customer including the well to do ones also shop there. Although it is a well know fact that the full price luxury stores have different quality (as documented in numerous articles) but when you are wearing the same brand with lower price you are not going to advertise that you have brought it from an outlet store, let other people deduct it if they want. It is the feeling good inside that we are wearing the same clothing as the rich people wear. And for me if I can save some money and still enjoy wearing name brand clothes and other items, why not. So the retailers have also figured this thing out and if you can still make money on your lower priced items than to let people go to another retailer, why not just let them shop your brand at a lower price. The revenue goes to the same company. So let’s start shopping at outlets now.