Off-Pricers Face Slow Recovery After A Rough Year
Off-price retailers, which tend to be insulated from macro disruptions and fare well in economies weak and strong, have not escaped the trouble that the pandemic has brought to retail. The retailers sell mostly clothes, a category all but ignored by consumers stuck at home for work and play. Month after month last year, apparel sales plunged, leaving even off-pricers to grapple with rising inventory. Their lack of e-commerce, usually a selling point for consumers eager for a store-based treasure hunt, was a liability in a period when stores were forced to close for varying amounts of time, with many consumers continuing to shy away from them when they’re open. And in recent weeks all off-price retailers noted higher freight, wage, supply chain and pandemic-related costs. Read more at Retail Dive.
