It’s no secret that we live in a digital world where everything is accessible through the click of a button. In addition to making our lives easier, the Internet has also created unprecedented access to information and resources. Nowhere is this more apparent than in the fashion industry, where savvy shoppers can find insider tips, tricks, and price points on just about any clothing brand or store. With so much information available online, it’s possible to uncover insider details on just about any retail business. Take Marshall’s as an example. As one of the leading affordable department stores, they operate over 300 locations selling branded fashion at outlet prices. But how? How do they manage to sell branded merchandise at such low prices?
What is the Secret behind Marshall’s Success?
At first glance, Marshall’s may not seem like much of a secret. However, if you peel back the layers, it’s actually quite surprising how they manage to offer quality fashion for less. For starters, Marshall’s has differentiated itself by identifying a gap in the market. As a retailer, they’ve noticed that there exist two distinct demographics - younger and older generations. On one end, millennials are finding it difficult to access affordable fashion. On the other, there exists a more mature, less style-minded demographic that is looking to downsize their wardrobes. On top of that, the brand has also implemented a unique business strategy that offers customers two different experiences. First, the company has taken advantage of its prime retail locations, sourcing and selling overstocks and seconds from top designers such as Michael Kors, Calvin Klein, and Vera Bradley. Next, they’ve also leveraged their online presence to expand their customer base, offering a broader selection of products at discounted prices.
How does Marshall’s Offer Quality for Less?
Unlike other discount retailers, Marshall’s sources inventory from the top designers and brands around the world. And, if you’re wondering how they’re able to so affordably source inventory, it has everything to do with buying power. With such strong relationships with suppliers, they’re able to negotiate bulk orders at discounted prices. Then, they pass these savings onto their customers by slashing retail prices by up to 70%. As a result, consumers are able to access designer pieces at outlet prices. The company also saves on labor costs by outsourcing their logistics to a third-party company. In addition, they’ve also streamlined operations by using a single computer system across all 300 locations.
Conclusion
There’s no denying that the fashion industry is a cutthroat business. Nowadays, customers are more aware of the brands they’re shopping than ever before. And, with so much information readily available online, it’s easier than ever to uncover the secrets behind retail brands. With Marshall’s, you’re able to enjoy designer brands at discounted prices. All you need to do is follow the insider tips shared above and you’re on your way to scoring big on quality fashion for less.
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