Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

The State of Off-Price Retail: Discounts Seal The Deal

by 
Bracha Arnold
 on 
November 15, 2023
The State of Off-Price Retail: Discounts Seal The Deal

There’s something about off-price fashion. The segment, which includes retailers such as  T.J. Maxx, Marshalls (both of which are owned by TJX Companies), Burlington, and Ross Dress for Less, has been a winner for the past few years, boasting consistent year-over-year (YoY) foot traffic growth. And the success of off-price is not just limited to apparel – discount home furnishing chains have also been outperforming their full-price counterparts. 

Today, we dive into the foot traffic of the four industry leaders to explore how discount home decor chains are faring following a year of retail ups and downs. 

Visits, Visits Per Venue Up For Major Retailers

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 year-over-year (YoY) 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 off-price chains’ expanding brick-and-mortar footprint. But the increase in average visits per venue indicates that the rise of the off-price segment is not just a product of larger store fleets – the individual stores themselves are increasingly crowded, highlighting the continued rise in demand for affordable apparel.  

Home Brands: Taking Home The Goods

TJX Companies also owns two home furnishings and decor stores – HomeGoods and Homesense. The two stores sell different product lines, with HomeGoods focusing on smaller decorative items, and Homesense on furnishings, lighting, and general home needs.Homesense recently made headlines when it announced the shuttering of its e-commerce site, choosing to focus on its brick-and-mortar business instead. To that end, the store has been adding more locations recently and has grown its U.S. fleet by 9 stores between Q2 2022 and Q2 2023

And the decision to focus on brick-and-mortar stores may prove to be a strong bet for TJX Companies. The two chains also experienced impressive foot traffic growth for all analyzed months, with September 2023 YoY foot traffic to HomeGoods and Homesense were 12.1% and 11.0% higher than last year, respectively. Homesense is now focusing on opening stores in the country’s south, a bet that may well pay off as more high earners relocate to Sunbelt states.

Off-Price And On Target

The off-price segment continues to shine as customers look for ways to spruce up their homes or wardrobes without breaking the bank.

Will this retail strength continue into the holiday shopping season?

Visit placer.ai/blog for more data-driven retail insights. 

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
Text Link
T.J. Maxx
Text Link
Marshalls
Text Link
Burlington
Text Link
Off-Price
Checking in With Discount & Dollar Stores
Peeking Behind The Curtain: Movie Theaters in 2023 and Beyond
Diving Into Brick-and-Mortar Eyewear
Getting Into Gear: Exploring The Auto Part Industry
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024: Placer.ai’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains
Placer.ai Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance
Placer.ai White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap
3 Mall & Shopping Center Trends for 2024
Bakery Chains Rising To The Top
Placer.ai and Esri Partner to Deliver Geospatial Analytics
Tampa Tourism Trends
Going For The Green: The Changing Dynamics Of Country Clubs
Christmas Day Dining Recap
Major Urban Shopping Districts – Holiday Season Recap
Placer.ai Office Index: December 2023 Recap
Recapping the 2023 Holiday Shopping Season
Placer.ai White Paper Recap – December 2023
7 Retail & Dining Segments to Watch in 2024
Diving Into Holiday Season Favorites
Super Saturday and Christmas Eve Eve: A Winning Combination
3 Budget Grocery Chains Finishing 2023 On a High Note
Making It In America: International Chicken Chains Bring The Heat
Domestic Tourism at a Glance: A Q3 2023 Roundup
Five Pizza Chains On The Rise
Jewelry Brands Taking Advantage of the DTC Opportunity
Secondhand News: Kids' Thrift Shops
Recapping 2023’s Dining M&As
MetLife Stadium Kicks Off Football Season
Placer.ai Office Index: November 2023 Recap
Small Coffee Chains Brewing Big Success
Placer.ai White Paper Recap – November 2023
Thanksgiving Travel 2023 Recap
Checking in With Nike and Lululemon
Black Friday 2023 Retail Recap
Starbucks’ 2023 Holiday Menu & Red Cup Day Performance
Turkey Wednesday 2023
Who Attended the 2023 Pickleball Championship? 
Three Surprising Holiday Shopping Trends
What’s in Store for Ulta Beauty This Holiday Season?
Best Buy and Department Stores: A Holiday Deep Dive
Discount & Dollar Stores: Strength Toward The End of the Year
The State of Off-Price Retail: Discounts Seal The Deal
Placer Mall Index Recap: October 2023
Placer.ai Office Index: October 2023 Recap
Retail Corridors Ahead of the 2023 Holiday Season
California, Here Gap Comes
Checking in With Home Improvement
Getting Into the Glasses Game: Warby Parker Takes Over
Fitness Positioned for a Strong 2023 Finish
White Paper Recap: October 2023
Coffee Giants Brewing Up Business
Popeyes and Burger King Lead the Way
Diving into Yum!
Looking Ahead to Black Friday 2023
Blockbusters Drive Movie Theater Comeback
Crocs and Boot Barn: Shoe-Ins for Success
McDonald’s and Chipotle's Winning Recipe
The State Of Steak: Checking in With Texas Roadhouse
Pleasant Pastimes: Pickleball Potential Proves Potent
Who’s Driving Downtown Manhattan’s Weekend Revival?
Diving into Downtown Manhattan Foot Traffic Trends
Rite Aid: Rightsizing Right
Major League Soccer: Its Die-Hard and Casual Fans
The Anchor Recap: September 2023
Placer.ai Office Index: September 2023 Recap
Placer Mall Index Recap: September 2023
September White Paper Recap
The Consumer Habits of College Students
JCPenney: Rightsizing and Revitalizing
Pent-Up Demand Ahead of October Sales Events
4 Strategies Retailers are Using to Drive Traffic to Their Venues
5 Key Regional Grocery Players Impressing in 2023
Upscale Kitchenware Trending Up
Costco Finds More Room for Growth
Four C-Store Chains Making an A-Grade
National Parks + Outdoor Summer Activities
Diving Into Darden: Summer 2023 Update
The Summer Event Effect
Messi: Massive in Miami
Looking Back on Back to School 2023
The Anchor Recap: August 2023
Placer.ai Office Index: August 2023 Recap