High end department stores plan to open more outlets
August 12th, 2010
High-end retailers have finally realized that they can’t survive on full price sales alone. Shoppers like a deal and have been spending more time and money in outlet stores. A recent study found that 75 percent of people who earn more than $100,000 annually say they are shopping at outlets more than they did before the recession.
HIgh-end department stores are giving shoppers what the want. Bloomingdale’s, Lord & Taylor, Neiman Marcus and Saks Fifth Avenue are all opening more outlet stores. (Unfortunately the are opening them only on the East Coast, so far, although NM is testing a new outlet concept in Dallas.)
Facts to know about outlet shopping: Most merchandise is made solely for the outlet stores. Prices run 30-70 percent lower for items sold at the main stores and 30-50 percent less for outlet-only goods. This goes for any outlet store such a Coach, Banana Republic, Ann Taylor, etc.
The best outlet shopping in the Denver area is the Colorado Mills Neiman’s Last Call. This store still sells designer merch that has been in the full price stores at low prices.
