Thanks for Visiting!

Register for free to get the full story.

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

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

Dive into the data to see how leading off-price retailers, including T.J. Maxx, Marshalls, Burlington, and Ross Dress for Less performed in Q3 2023.

By 
Bracha Arnold
November 15, 2023
The State of Off-Price Retail: Discounts Seal The Deal
SHARE
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
Key Takeaways

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. 

Learn how downtown regions across US cities are measuring up with our free tools.
Check out the latest trends for
No items found.
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
SHARE
Get 3 brand & industry
breakdowns every week
Subscribe to the newsletter
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.

Recent Publications

Get 3 brand & industry breakdowns every week

Subscribe to the newsletter
Text Link
T.J. Maxx
Text Link
Marshalls
Text Link
Burlington
Text Link
Off-Price
Five Below and Ollie’s Bargain Outlet: A Pre-Holiday Snapshot
Kroger: Getting into The Seasonal Swing 
Avison Young Launches Office Busyness Index Powered by Placer.ai to Provide Unmatched Insights on Office Utilization Across Major U.S. Markets
Off-Price Ahead of the 2024 Holiday Season
A Beautiful Season Ahead: Ulta and Sally Beauty Supply
Sportswear Ahead of the 2024 Holiday Season 
Placer 100 Index: October 2024 Recap 
Placer.ai Office Index: October 2024 Recap
Placer.ai Mall Index: October 2024 Recap 
Halloween’s 2024 Retail & Dining Impact – Party City Carries the Season
Checking in With Department Stores: Nordstrom and Macy’s
Superstores and Wholesale Clubs Ahead of the Holidays
Home Depot and Lowe’s Heading Into the Holidays
Starbucks and Dutch Bros: Short Visits Lead the Way
Planet Fitness: Raising the Bar(bell)
Checking in With Full-Service Restaurants: First Watch, Chili’s, and Outback Steakhouse
RBI and Yum!: QSR Resilience in 2024
Boot Barn and DSW: Stepping Up Their Game
Target’s October Circle Week: A Data-Driven Snapshot
Chipotle, Shake Shack & Wingstop: Dining Success in Q3 2024
Playa Bowls and Tropical Smoothie Cafe: Berry Big Business
Cheesecake Factory & BJ’s Restaurants: Full-Service Success
Checking in on McDonald's and Wendy's 
Sprouts Farmers Market: A Specialty Grocer With a Traditional Twist
CAVA: The Craze Continues
Placer.ai Reaches $100M Annual Recurring Revenue
Catching Up With Carter's 
A Texas Roadhouse and LongHorn Steakhouse Showdown
Placer.ai Mall Index: September 2024 Recap – Labor Day Peaks and Holiday Season Predictions
Albertsons Q3 Check-In
Looking Ahead to the 2024 Holiday Season
Trader Joe's: Continuing to Thrive in 2024
Bowlero and AMF: A Ten-Pin Knockout
Recreational Retail: Store Performance in 2024
Placer.ai White Paper Recap – September 2024
A QSR and Fast-Casual Face-Off
Sam’s Club’s In-Store Retail Media Network Opportunity
The Rising Stars: Six Metro Areas Welcoming Young Professionals
Costco in 2024: A Deep Dive
Sherwin-Williams in 2024: Brighter Than a New Lick of Paint
Life Time and Orangetheory: Premium Fitness Flourishing
C-Stores: More Than A Pit Stop
Darden: Dining Dominance Undeterred 
Placer 100 Index for Retail and Dining: August 2024 Recap
Placer.ai Office Index: August 2024 Recap
Placer.ai Mall Index: August 2024 Recap – Back-To-School In Full Swing
Auto Parts Retailers: The Traffic Continues
Pumpkin Spice Works its Magic Once Again
School Season Sparks Retail Growth
Placer.ai White Paper Recap – July & August 2024
Big Lots’ Big Rightsizing Move in Four Data Points
Fun Away From The Sun: Checking in With Eatertainment
Domestic Migration and Population Growth: Strong Currents Off The Carolina Coast
The Civic Impact of Summer Events
Retail Trends in College Towns: A Back-to-School Snapshot
Five Below and Ollie’s Bargain Outlet: Consumers Still on the Hunt for Discounts
Macy’s & Bloomingdale’s: Into 2024 and Beyond
Limited Time Only: The Trend Continues
Beauty in 2024: Many Ways to Win
Dollar General & Dollar Tree: Powering Ahead in Q2 2024
The Home Depot and Lowe's Foot Traffic Remodel in Q2 2024
Superstore Update: Summer Savings Spree
Placer.ai Mall Index: July 2024 Recap – From Fourth of July to Back-to-School
Placer.ai Office Index: July 2024 Recap
Summer Movie Madness: Blockbuster Films Boost Foot Traffic
Driving Success: Toyota in 2024
Denny’s and IHOP: An All-Day Breakfast Matchup
Warby Parker: Seeing Clearly Now
Planet Fitness at the 2024 Halfway Point
Serving Summer 2024: RBI and Yum! Brands Q2 Foot Traffic
Starbucks, Dutch Bros., Dunkin’: Finding Summer Success
Fast Food and Fast Casual Favorites, Plus CosMc’s Takeoff
Chipotle and Sweetgreen: Fast-Casual in Q2 2024
First Watch, Texas Roadhouse, and Applebee’s: An FSR Roundup
Albertsons Companies: H1 2024 Recap
Teaming Up For Success: Sports Stadium Sponsorships
Limited Time Offers: Price Wars Boost Visits
Placer 100 Index for Retail & Dining: June 2024 Recap
Placer.ai Mall Index: June 2024 Recap
Placer.ai Office Index: June 2024 Recap
Inside Out 2: The New Blockbuster Bringing Crowds Back to Theaters
Petco and PetSmart: A Head to Head
Frozen Delights: Exploring Ice Cream Chains Across America
Placer.ai White Paper Recap – June 2024
Barnes & Noble: Writing a New Story
Small Format Stores - Sprouting, Blooming, and Expanding
Retail and Dining on Father’s Day
Thrift Store Visit Scores
Charting Value Grocery’s Visit Growth
Placer 100 Index for Retail & Dining: Introduction and May 2024 Recap
Digging Into Darden: Q2 2024 Update
2024 Retail and Dining Trends Update
TRU and avid: Midscale Hotels on the Rise 
Diving Into Kroger: A Strong Start to 2024
Placer.ai Mall Index: May 2024 Recap – Mall Visits on the Rebound
Placer.ai Office Index: May 2024 Recap
2024 Memorial Day Recap
Las Vegas: A Tourism and Migration Deep Dive
Eatertainment Chains: Full on Food, Fun, and Foot Traffic
The Promise of Luxury Apparel