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“Racking” Up for Millennials

The luxury off-price boom may be a way to train younger consumers to appreciate (and buy) the finer things in life later on.

By Debra Hazel | Updated on January 03, 2014

The luxury off-price boom may not have been just a way for retailers to appeal to suddenly cash-strapped customers, says a recent article. It may be a way to train younger consumers to appreciate (and buy) the finer things in life later on.

A recent BuzzFeed article notes that with 141 units, Nordstrom Rack now outnumbers its full-price stores (117). The same is true of Saks Fifth Avenue, which has 41 full-line stores and 70 Off-Fifth locations. (Neiman Marcus, on the other hand, has 41 Neiman’s stores, 2 Bergdorf Goodmans, and 36 Last Call clearance centers – for now.)

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