What is Off-Price Retailing in Retail? Explained

Off-Price Retailing is a business model where retailers offer brand-name and designer products at discounted prices. These products are typically acquired through various means, such as overstock, closeouts, or end-of-season merchandise, enabling retailers to sell them at a lower cost than traditional retail outlets. Off-price retailing appeals to value-conscious consumers seeking quality goods at reduced prices. Retailers following this model, such as T.J.Maxx, Marshalls, and Ross Dress for Less, capitalize on providing a diverse selection of discounted merchandise, creating a unique shopping experience that sets them apart from conventional retail stores.