The report titled “Off-Price Retail Market – Size, Share, Growth, Opportunities, and Competitive Analysis, 2022 – 2028” offers strategic visions into the global off-price retail market along with the market size (Value in “US$ Mn”) for the historical period 2017 to 2021 and estimates for the forecast period 2022 to 2028. In addition, this study covers an in-depth analysis of multiple market segments based on Type and Application across five different regions covering 20+ countries. 

 

Key insights associated with forecast factors for the market during the forecast period 2022-2028 have also been covered. The report also provides the impact of COVID-19 on the global and regional off-price retail market in the short, medium, and longer-term for conservative, likely, and optimistic scenarios, respectively. 

 

Off-Price Retail Market Dynamics

The global off-price retail market has experienced numerous innovations and disruptions during the historical period. Increasing disposable income in emerging economies is rising wallet size, resulting in consumers with more money to spend and more enthusiasm for lifestyle-related product consumption. The trend is expected to continue soon, influencing demand for the off-price retail market to grow. Medium and high-income households predominantly drive consumer electronics and durable goods adoption in the region due to rapid urbanization and population expansion. In addition, the availability of low-cost consumer electronic devices, including smartphones and televisions, from various local firms encourages low-income people to buy them. The demand for off-price retail is increasing as a result of this.

 

Additionally, consumer behavior is fast-shifting due to, in large part, the tremendous expansion of e-commerce. Customers have many options before purchasing, which presents a significant possibility for market expansion. As a result of the rapid developments in digital marketing, modern firms must communicate with potential customers through various platforms. Email, social media, and traditional paid ads are examples of multi-channel marketing strategies projected to promote market expansion over the projection period.

 

Segmental Analysis

How does the potential demand for apparel and footwear impact Off-Price Retail Market?

Off-price retailers provide a constant supply of fashion items. Consumers can shop for products on online sites all year, similar to the ease of full-price players, though some sizes and colors may be limited. Furthermore, online fashion marketplaces have grown in popularity, providing customers with a wide range of options on a single website.

 

Why are internet sales as an application seen as an attractive segment?

The retail and internet channels in off-price are increasing at different rates. The prevalence of outlet malls gave the offline channel a tremendous head start. It accounted for three-fourths of the off-price market in 2015. Since then, the internet channel has grown rapidly. It generated predicted sales of €17 billion in 2021. According to one data, internet channels will account for nearly all of the growth in off-price in the forecast years.

 

Regional Analysis 

North America is dominating the global off-price retail market as it holds the lion’s share, backed by the fact that major key players are based in the region, such as TJX Corporation, Walmart, Ross Stores, DollarTree, and others. According to 2018 estimates, there are more than 6,300 off-price retail outlets in the United States, accounting for more than 80% of the global off-price market segment. The region's dominance can also be attributed to the higher purchasing power of the people in the region since their disposable income is higher compared to other regions. Additionally, e-commerce penetration in the region is also significant, promoting the sale of off-price goods to a greater extent.

 

During the forecast period, however, the Asia Pacific region is expected to grow at the highest rate due to increased buying power. There has also been a significant internet penetration in the region, as compared to previous years, which has contributed to the market's growth.

Competitive Landscape

Key players in the global off-price retail market focus on continuous product innovation and commercialization of high-end product offerings. The off-price retail market is seen as a fragmented market. However, the emergence of new players is expected to further result in market share distribution at the regional level. Prominent players in the market include Walmart, Burlington Coat Factory, Marshalls, Target Corporation, DollarTree, Ross Stores, Inc., J. C. Penney, Stein Mart, Ross Stores, and TJX.

 

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has not only resulted in halted production activity but has also disrupted the global supply chain. In a downturn scenario, people buy off-price to save money when the economy is poor; however, when the economy is strong, people shop off-price since they have money to spend. However, the pandemic year/s were markedly different, with off-price businesses being less protected from macroeconomic conditions. They were not immune, for example, to supply chain problems elsewhere or, more lately, inflation. Some also saw their marketing damaged by name brands pulling back in favor of selling directly to customers, a trend that is also affected their full-price department store competitors. Furthermore, several off-price players had specific problems this time, as they have little to no e-commerce and were hit particularly hard when stores were temporarily closed for prolonged periods.

 

On the other hand, select players could grow during the tumultuous period. For instance, TJX Cos. net sales increased by 27% over 2020 and 14% from two years ago to $13.9 billion, while comps at open locations increased by 13% compared to two years ago. The company’s net income increased to $940.2 million from $325.5 million the previous year. This was due to the robust e-commerce presence of the company, which enabled an increase in international sales.

 

Key Segments of Off Price Retail Market

Type 

• Consumer Electronics 
•  Food Retail/Grocery 
•  Apparel & Footwear 
•  Durable Good 
•  Furniture and furnishing 
•  Others

Application

• Internet Sale 
• Store Sale

Region

• North America
• Europe
• Asia Pacific
• South America
• MEA

 Key Players Analyzed

Walmart, Burlington Coat Factory, Marshalls, Target Corporation, DollarTree, Ross Stores, Inc., J. C. Penney, Stein Mart, Ross Stores, and TJX.

Key Market Opportunities

• Growing demand from emerging economies

Key Market Drivers

• Benefits offered by Off-price retail are driving the market growth 
• Increase in disposable income & per capita apparel expenditure in emerging economies
• Growing penetration of the internet and increasing cross-border commerce 

 

1.      Executive Summary

1.1.    Global Market Outlook

1.2.    Demand Side Trends

1.3.    Supply Side Trends

1.4.    Recommendation and Analysis

2.      Market Overview

2.1.    Market Taxonomy

2.2.    Market Definition & Scope

3.      Market Background and Foundation Data Points

3.1.             Global Retail Industry Outlook

3.2.             Recent Developments in Off-Price Retail Market Segment

3.3.             Regulatory Policies and Landscape

3.4.             Market White Space Assessment and Opportunity Analysis

3.5.             Key Market Trend Analysis

3.5.1.  By Type

3.5.2.  By Application

3.6.             Development Patterns in Off-Price Retail Market

3.7.             Competitive Scenario and Trends

3.7.1.  Market Concentration Rate, by Region

3.7.2.  List of Emerging, Prominent and Leading Players 

3.7.3.  Mergers & Acquisitions

3.8.             Scenario Forecast for Demand

3.8.1.  Optimistic Scenario

3.8.2.  Likely Scenario

3.8.3.  Conservative Scenario

3.9.             Macro-Economic Factors

3.10.         Market Dynamics

3.10.1.         Market Driving Factors and Impact Assessment

3.10.2.         Prominent Market Challenges and Impact Assessment

3.10.3.         Market Opportunities

3.10.4.         Challenges in Off-Price Retail

3.11.                     COVID-19 Impact on Market Value

3.11.1.         Value Depreciation in 2021

3.11.2.         Quarter-On-Quarter Impact and Recovery Assessment

3.12.                     Expected Demand Volume (Mn Units) and Value (US$ Mn) Recovery Curve

3.12.1.         Likelihood of V-Shape Recovery

3.12.2.         Likelihood of U-Shape Recovery

3.12.3.         Likelihood of L-Shape Recovery

4.      Global Off-Price Retail Market - Pricing Analysis

4.1.    Regional Pricing Analysis by Application

4.2.    Pricing Break-up

4.3.    Global Average Pricing Analysis Benchmark

5.      Global Off-Price Retail Market Demand (in Value or Size in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2028

5.1.    Historical Market Value (US$ Mn) Analysis, 2017-2021

5.2.    Current and Future Market Value (US$ Mn) Projections, 2022-2028

5.2.1.  Y-o-Y Growth Trend Analysis

5.2.2.  Absolute $ Opportunity Analysis 

6.      Global Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028, By Type

6.1.    Introduction / Key Findings

6.2.    Historical Market Value (US$ Mn) Analysis by Type, 2017-2021

6.3.    Current and Future Market Value (US$ Mn) Analysis and Forecast by Type, 2022-2028

6.3.1.  Consumer Electronics

6.3.2.   Food Retail/Grocery

6.3.3.   Apparel & Footwear

6.3.4.   Durable Good

6.3.5.   Furniture and furnishing

6.3.6.   Others

6.4.    Market Attractiveness Analysis by Type

7.      Global Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028, By Application

7.1.    Introduction / Key Findings

7.2.    Historical Market Value (US$ Mn) Analysis by Application, 2017-2021

7.3.    Current and Future Market Value (US$ Mn) Analysis and Forecast by Application, 2022-2028

7.3.1.  Internet Sale

7.3.2.   Store Sale

7.4.    Market Attractiveness Analysis by Application

8.      Global Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028, By Region

8.1.    Introduction / Key Findings

8.2.    Historical Market Value (US$ Mn) Analysis by Region, 2017-2021

8.3.                         Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

8.3.1.  North America

8.3.2.  Europe

8.3.3.  Asia Pacific

8.3.4.  South America

8.3.5.  Middle East and Africa (MEA)

8.4.    Market Attractiveness Analysis by Region

9.      North America Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028

9.1.    Introduction / Key Findings

9.2.    Pricing Analysis

9.3.    Historical Market Value (US$ Mn) Analysis by Region, 2017-2021

9.4.                         Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

9.4.1.  By Country

9.4.1.1.    U.S.

9.4.1.2.    Canada

9.4.1.3.    Mexico

9.4.2.  By Type

9.4.3.  By Application

9.5.    Market Attractiveness Analysis

9.5.1.  By Country

9.5.2.  By Type

9.5.3.  By Application

10.  Europe Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028

10.1.                     Introduction / Key Findings

10.2.                     Pricing Analysis

10.3.                     Historical Market Value (US$ Mn) Analysis by Region, 2017-2021

10.4.                     Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

10.4.1.     By Country

10.4.1.1. Germany

10.4.1.2. Italy

10.4.1.3. France

10.4.1.4. Spain

10.4.1.5. UK

10.4.1.6. Rest of Europe

10.4.2.         By Type

10.4.3.         By Application

10.5.                     Market Attractiveness Analysis

10.5.1.     By Country

10.5.2.         By Type

10.5.3.         By Application

11.  Asia Pacific Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028

11.1.                     Introduction / Key Findings

11.2.                     Pricing Analysis

11.3.                     Historical Market Value (US$ Mn) Analysis by Region, 2017-2021

11.4.                     Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

11.4.1.     By Country

11.4.1.1. China

11.4.1.2. India

11.4.1.3. Japan

11.4.1.4. South Korea

11.4.1.5. Rest of Asia Pacific

11.4.2.         By Type

11.4.3.         By Application

11.5.                     Market Attractiveness Analysis

11.5.1.     By Country

11.5.2.         By Type

11.5.3.         By Application

12.  South America Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028

12.1.                     Introduction / Key Findings

12.2.                     Pricing Analysis

12.3.                     Historical Market Value (US$ Mn) Analysis by Region, 2017-2021

12.4.                     Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

12.4.1.     By Country

12.4.1.1. Brazil

12.4.1.2. Argentina

12.4.1.3. Rest of South America

12.4.2.         By Type

12.4.3.         By Application

12.5.                     Market Attractiveness Analysis

12.5.1.     By Country

12.5.2.         By Type

12.5.3.         By Application

13.  Middle East and Africa (MEA) Off-Price Retail Market Analysis 2017-2021 and Forecast 2022-2028

13.1.                     Introduction / Key Findings

13.2.                     Pricing Analysis

13.3.                     Historical Market Value (US$ Mn) Analysis by Region, 2017-2021

13.4.                     Current and Future Market Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

13.4.1.     By Country

13.4.1.1. GCC Countries

13.4.1.2.  South Africa

13.4.1.3.                   Rest of MEA

13.4.2.         By Type

13.4.3.         By Application

13.5.                     Market Attractiveness Analysis

13.5.1.     By Country

13.5.2.         By Type

13.5.3.         By Application

14.  Market Structure Analysis

14.1.   Market Analysis by Tier of Companies (Off-Price Retail)

14.2.   Market Concentration

14.3.   Market Dashboard

14.4.   Key Player Heat Map Analysis

15.  Competition Analysis

15.1.   Competition Benchmarking

15.2.   Competition Deep Dive

15.2.1. Walmart

15.2.1.1. Overview

15.2.1.2. Product Portfolio

15.2.1.3. Regional Revenue

15.2.1.4. Segmental Revenue Breakup

15.2.1.5. Recent Development

15.2.1.6. SWOT analysis

15.2.2.         Burlington Coat Factory

15.2.3.         Marshalls

15.2.4.         Target Corporation

15.2.5.         DollarTree

15.2.6.         Ross Stores, Inc.

15.2.7.         J. C. Penney

15.2.8.         Stein Mart

15.2.9.         Ross Stores

15.2.10.   TJX

15.2.11.   Other Key Players

 

16.     Appendix