Price Versus Location in Modern Retail

>> Friday, September 10, 2010

For many stores, success solely relies on its location.  Location, Location, Location is the mantra for most business success. However, in the case of factory outlet stores, success is no longer about location but about selection and price. Basically, it comes down to, “Do you carry name brands?” and if so, are the prices low enough to get people to travel long and wide to purchase your inexpensive products. With regards to outlet stores, some big retail chains have separate branded factory outlet stores, like the Nordstrom outlet (or Nordstrom Rack), however, some retail chains like Office Depot and Underground Station just offer sales and great prices year round, instead of having separate out let stores.  

For the most part money is tight for everyone in this economy. Because of this, our mission is to make certain we are getting the most ‘Bang for Our Buck’ on whatever we purchase so we can make our money last. Most of us have heard of Nordstrom outlet stores or Office Depot and Underground Station store locations that offer INSANE deals on products we use every single day. While many retail chains can be somewhat pricey for the products they sell, a nationwide presence like an Underground Station Store and many Office Depot locations still cater customers; offering superior discount prices that keep consumers coming back year after year.

While products typically offered at outlet stores are less expensive, they do share the same great quality materials that are sold in their high end mother ship branded stores. A Nordstrom outlet is one such case; selling great merchandise for a great price. On the other hand, Office Depot locations and Underground Station store entities oftentimes purchase products in bulk, selling the most cutting edge technology or the best cutting edge styles. And because they have so many products on hand, they are able to sell their offerings at a lower price point satisfying the average consumer with a price that is right, a win-win for everyone.


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