While off-price stores like TJ Maxx and Burlington have existed for decades, the 2008 recession—the biggest since the dot-com boom—incited retailers to turn more heavily to the off-price business model. At the time, consumers across all socioeconomic levels were stretching their wallets and seeking out off-price and other discounts to extend their purchasing power. But a decade later, this recession-era relationship between brands and shoppers is still in place, despite the improving economy. Now brands and retailers are attempting to match consumer expectations and combat falling revenue and profit by selling more off-price products, even though they often carry lower margins.

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