One Of The World's Biggest Retailers Is Coming Down Under
Australian department stores are about to get a new rival.
An American discount chain is about to enter the sector dominated by Myer and David Jones and plan to open 34 stores in April.
TJ Maxx will bring it’s ever changing range down-under, in a similar method to one that has been used by H&M, Zara and Top Shop.
“They’ll have new styles coming into the store every week, so that as soon as consumers go in, they think they’d better buy the product now, because next week it might not be there,” IbisWorld retail analyst Lauren Magner said.
“It creates that scarcity effect and encourages consumers to buy on the spot. And they know there’ll always be something new and fresh.”
It looks like Target is the store that is most likely to be at most risk but companies are being warned that ‘nobody is safe’.
TJ Maxx offers heavily discounted products, that change every single week. Their range includes clothing, homewares and even travel products.