Welcome to Prame Outlets

What are Outlets?

Outlets stores are owned and operated by the manufacturer, allowing for substantial discounts due to the elimination of the middleperson.

The majority of merchandise is first quality and in-season. Irregular and damaged merchandise accounts for less than 15 percent of all Outlets goods. Outlets stores are different than off-price stores, which sell a variety of quality, name-brand goods at reduced prices. Off-price stores are not owned and operated by the manufacturer and typically buy over-allotments from department stores. Marshall's and T.J. Maxx are examples of off-price stores. Outlets stores are also different than discount stores, which sell inexpensive merchandise at reduced prices due to large quantities purchased. K-Mart and Wal-Mart are examples of discount stores.

Do Shoppers Really Save?

On any given day, a consumer visiting a Prame Outlets center will receive between 20-35% off of manufacturer's suggested retail prices. While these prices are comparable to what a consumer would receive if they visited a department store sale, these are an Outlets center's base prices and everyday values.

When Outlets go on sale, consumers can expect to receive up to 70% off of regular retail prices. This includes savings on apparel, accessories, shoes and home furnishings.

Facts About Outlets Centers in America

The Outlets industry represents approximately $15 billion in total retail sales, which is less than 2% of total non-auto retail sales.
260 Outlets centers, with a gross leasable area of 55.5 million square feet, were open as of December 31, 2002.
More than 14,000 stores were open in manufacturers' Outlets centers as of December 31, 2002
The average size of manufacturers' Outlets center was 213,461 square feet as of December 9, 2002.
Outlets centers/stores nationwide offer excellent value every day of the year.
Merchandise at Outlets is a combination of current-season factory overruns, last season styles, seconds and samples. The majority of merchandise at Outlets is first quality.
Outlets centers can be found in a variety of architectural styles ranging from theme villages to indoor malls to outdoor strip centers.

Outlets Shopper

Who Shops at Prame Outlets centers?

Median household income	$56,847
Percentage of repeat shoppers	83%
Average travel time to reach Outlets center	54 minutes
Average length of visit at Outlets center	2 hours, 6 minutes; 60% longer stay than regional mall visits
Average number of stores visited	7 stores
Average expenditure per visit	79% higher than regional malls
Percentage of shoppers eating and/or drinking at food court	47%
Percentage of shoppers anticipating return visits	96%
Median age of shoppers	42
Median household size	2.9
Percentage of shoppers with children under 18	39%
Percentage of shoppers who are married	67%
Percentage of shoppers who are tourists/out-of-state visitors	24%

Outlets History

Mid to late 1800's	Apparel and shoe mill stores on Eastern seaboard began offering excess and damaged goods to employees. Eventually these mill stores opened their doors to consumers.
1936	Anderson-Little, a manufacturer of men's clothing, opens the first "factory-direct" stores. These Outlets were located in remote areas.
1940's	Factory Outlets continue to grow over the next 40-50 years. During this period, Outlets served mainly as centers for the disposition of over-runs and damaged merchandise.
1970's-1980's	Several economic factors contributed to the growth of the Outlets industry during the 70's and 80's: · Decrease in consumer's discretionary income · Energy crisis · Increased awareness and desirability of designer labels · Manufacture of private-label merchandise · Increased financial risks associated with traditional retail channels (i.e., department store viability) · Consumer importance placed on quality, value and status
1974	Vanity Fair opens first multi-tenant manufacturers' Outlets center in Reading, Pennsylvania. This factory conversion led the way for other such projects.
1980	The first enclosed Outlets center opens in a non-metropolitan market to avoid direct competition with retail accounts.
1980's	Outlets centers continue to grow, especially in areas of high tourist trade due to: · Over saturation of regional malls · Outlets becoming profit centers for manufacturers · Growth of private-label merchandise · Technological advances in apparel manufacturing
Late 1980's	Manufacturers' Outlets experience phenomenal growth as the industry becomes more sophisticated due to: reduced sensitivity to retail stores, increased emphasis on customer service, in-season merchandise is emphasized in Outlets stores, visual merchandising, sophisticated store design, better center ambiance and amenities.
1990's	Manufacturers' Outlets rank as fastest growing segment of retail industry, representing an $12.2 billion dollar industry and more than 300 centers nationwide.
2001	Outlets industry stabilizes, with over 260 centers nationwide and $14.1 billion in gross sales.