• Home
  • News
  • Retail
  • Value retailers see increase in footfall

Value retailers see increase in footfall

By Don-Alvin Adegeest


Scroll down to read more


Off-price retailer TK Maxx Credits: TK Maxx

In 2023, the fashion industry encountered challenges ranging from high prices to evolving workplace attire. Despite these headwinds, certain segments, particularly off-price and thrift stores, experienced significant growth as consumers shifted towards more economical choices, according to data release by Placer.ai.

The overall fashion category thrived during the holiday season, resulting in record sales. A detailed analysis of foot traffic and changing demographic profiles sheds light on the dynamic relationship among key fashion segments: non-off-price apparel chains, off-price retailers (including T.J. Maxx, Marshalls, Ross Dress for Less, and Burlington), and thrift shops. The data highlights a notable redistribution of foot traffic, indicating evolving consumer preferences and economic influences that have left their mark on the fashion industry's landscape.

Traditionally, non-off-price apparel chains attracted more affluent consumers, while off-price and thrift stores catered to a more budget-conscious clientele. However, the aftermath of the pandemic led to shifts in consumer behavior, with thrift shops quickly rebounding in median household income (HHI), while non-off-price and off-price retailers struggled to regain their pre-pandemic affluence levels.

The data also exposes distinctions in the household composition of visitors, revealing that thrift shops attract a disproportionate number of singles, particularly from areas with higher-than-average one-person households. In contrast, off-price and non-off-price apparel stores draw visitors from areas with smaller-than-expected concentrations of one-person households, indicating a family-oriented customer base.

As the fashion industry grapples with economic factors and changing consumer preferences, the outlook for 2024 raises questions about the trajectory of non-off-price favourites and the potential appeal of thrift stores to households.

TK Maxx
Value Retail