TJ Maxx says its assortment of discounted brands is better than ever thanks to store closures elsewhere. Here's how it keeps prices so low.
who source products from its 21,000 vendors globally. These buyers are the"secret sauce" to its success, Neil Saunders, managing director of GlobalData Retail, told Insider. They know where to look for the best deals and cast their web wide.TJ Maxx's buyers know how to negotiate the best prices but they're also in a strong position to do so.
According to Morningstar research, it also buys up inventory when it's cheaper to store up for future seasons. And as it's happy to buy a limited assortment rather than the full collection of sizes and styles from a retailer, it is an attractive option for these stores and therefore has more leverage to bargain on price. TJ Maxx also sells products that are manufactured especially for the chain, which means it has direct control over the pricing in this area.
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