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Discount Shopping With No Shame

Discount Shopping With No Shame
Television personality Bethany Frankel at an exhibition at the Getty Images Gallery in New York (Jason Kempin/Getty Images/2008 file)

By    |   Thursday, 23 May 2024 08:13 AM EDT

Even the top 1% richest are digging into the clothing racks at Marshalls and T.J. Maxx to find deep discounts of up to 90%, The Wall Street Journal reports.

Amid cumulative inflation of nearly 20% over the past three years, they’re shopping at chaotic, neon-lit bargain basement stores without a shred of shame.

“Years ago, people would hide” if they saw a familiar face at a deep discount chain, says Lyss Stern, a marketing CEO who lives on the Upper East Side in New York’s Manhattan.

“But now, everyone goes,” Stern says.

That includes “Real Housewives” reality TV star Bethanny Frankel, who posts TikTok videos about her TJX hauls.

Frankel gets a kick out of meeting fans in the aisles, boasting, “I am bigger than Madonna in T.J. Maxx.”

Consumers’ interest in finding bargains has been boosted by social media. The hashtag #BestFindsAtTjMaxx” has garnered 58.5 million views — and #MarshallsFinds boasts a staggering 1.3 billion views.

“We always appreciate seeing our customers’ excitement about their amazing ‘hauls’ that they share across social media,” says a TJX spokesperson.

In fact, everyday people have taken to bragging about their discount finds on social media.

Great Finds

How big are the discounts and how great are the goods? They range from 10% to as much as 90% on designer labels including Valentino, Coach, Gucci, Longchamp, Jason Wu, Moschino, and Simkhai.

Frankel’s recent finds have also included Moncler cashmere coats, LoveShackFancy dresses, Pat McGrath Labs cosmetics, Tom Ford sunglasses, and Golden Goose sneakers.

Still, some of the designer merchandise remains very pricey. A Loewe handbag that normally retails for $3,500 was discounted 23% to $2,700 at a Manhattan T.J. Maxx. A Chloe purse that sells for $575 was marked down 56% to $250.

A Jason Wu dress that had been featured on “Aquaman” by starlet Indya Moore was slashed from $675 to $180.

It is no wonder, then, that just this week TJX Cos. raised its annual profit forecast and beat first-quarter sales estimates, boosted by robust demand. Off-price product categories including clothing and home goods has helped drive demand at TJX for four straight quarters.

Higher-income households with an average annual income of $125,000 are also shopping at discount warehouse Costco in greater numbers.

Shopping Strategy

Die-hard bargain apparel shoppers have developed strategies for their heists. They swear by shopping in person as opposed to on lackluster, out-of-date websites, in order to see the quality of the goods for themselves and to find items that have just hit the shelves.

This “gives you the touch-and-feel experience,” says New York stylist Stacy Garson.

They also recommend wearing leggings so as to be able to quickly try on clothing right in the aisles, amid all the shopping madness, and to avoid jam-packed dressing rooms that lack privacy.

Most discount stores have gems mixed in with the mundane, and that is definitely the case with the oft-overlooked beauty section at Marshalls, says Dr. Zaida Carstens, 69, a retired physician in Riverside, Calif.

One thing discount die-hard shoppers all agree on: it is very time-consuming to wade through oceans of merchandise in search of a “wow” item.

Gerson compares shopping at Marshalls, even in the posh Hamptons, to having lunch with a high-maintenance girlfriend:

“It’s something to do. It’s a fun experience. But it can be a lot of work.”

© 2024 Newsmax Finance. All rights reserved.

Even the top 1% richest are digging into the clothing racks at Marshalls and T.J. Maxx to find deep discounts of up to 90%, The Wall Street Journal reports.
discount, shopping, inflation
Thursday, 23 May 2024 08:13 AM
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