Why You Should Skip The Mall And Head To An Outlet centre Instead

shopping

Photo: Tinou Bao via Flickr

Recession? What recession?That’s what outlet stores were likely asking themselves as profits soared to $30 billion in sales last year, reports ABC.

So why are consumers buying in at a record pace?

It’s all about round-the-clock deals and unbeatable quality.

Consumer Reports surveyed 17,753 readers and found 60% were “completely or very satisfied” with their purchases, putting stores like Jockey and Carter’s, Izod, and Coach at the top of their list of 58 major brands.

And as Consumer Reports’ Tod Marks told ABC, “About three-quarters of those surveyed characterised the merchandise they bought as excellent or very good.”

Consumer Reports did its homework as well, assessing the real value of discounted duds. The findings: A Ralph Lauren oxford shirt priced at $76 in retail can be had at an outlet store for $40, although the retail offering might be the better pick. 

Bottom line: If you’re looking for a deal this weekend, head to the outlets.

 

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.