If you're looking for designer brand apparels and accessories at a fraction of the price, look no further than off-price retailers.
Off-price retailers, like MyGoTo Brands, are the perfect place for finding fashion brand names and designer collections at a fraction of the cost. When brands have excess inventory and it’s time to make room for new arrivals, they first offer discount sales, after a certain period, they look to off-price retailers to purchase their remaining inventory at a deeply discounted rate. This allows brands to keep cash flowing and stay successful in business. Excess inventory occurs for reasons such as off-season products, manufacturing faults, production overload. Off-price retailers are able to turn a profit by selling the apparel and accessories to consumers at significantly lower prices than those found in boutiques, department stores, and other full-price retailers.
The way a brand deals with its excess inventory can make all the difference between unlocking cash flow or suffering a loss in revenue. As time goes on, holding costs like warehousing, insurance and taxes also cut into revenue. This is where off-price retailers come in. They operate by buying the products from the manufacturers and capitalizing on the unpredictable nature of consumer demand. These are hugely beneficial for manufacturers looking to shift excess units in order to recover money that would have otherwise been tied up. Off-price retailing acts as a solution for manufacturers.
Consumers have embraced the off-price business model, and it appears increasingly probable that this sector will be the primary benefactor of both brick-and-mortar and internet sales volume. In a world where fashion trends come and go, off-price may meet a variety of demands without having to go through the lengthy department store procedure of purchasing clothing from vendors months before it is supposed to be in shops. The off-price approach, on the other hand, is adaptive to changing demands and has shown to be a successful framework for keeping customers interested by allowing them to discover deals without having to wait for sales season.
Off-price retailers know that their core customer is a fan of high quality brands, and great deals. For shoppers, part of the attraction is that they never know what they are going to end up buying when they enter the store. It’s like a treasure hunt for the best deal, price, or item.