By Ashley Lutz, Business Insider
Grocery Outlet wants to be the “TJ Maxx of grocery stores.”
The Los Angeles-based regional chain has 251 locations and plans to expand to 376 by 2020, according to a recent profile in Frozen & Refrigerated Buyer magazine that was cited by RetailWire. It is on track to gross $2 billion in sales this year.
TJ Maxx offers lower prices than department stores by paring down the shopping experience and passing savings on to consumers. The apparel store has been blamed for the downfall of brands like Nordstrom and Macy’s.
Grocery Outlet says that it sells items at a 40% to 70% discount off regular stores’ prices by offering surplus items, seasonal closeouts, and discontinued items. While some of its goods aren’t up to manufacturer standards, none of what it sells is past the sell-by date.
Here’s why Grocery Outlet is becoming a viable threat to industry giants like Walmart, Kroger, and Whole Foods…
Read full article here: The ‘TJ Maxx of grocery stores’ is coming for Kroger, Walmart, and Whole Foods