"Outlet" and "Off-Price" Formats in Costa Rica

Description of the workings of the retail scheme for discounts, off-price and outlet formats, and expertise in selling products at low prices which are from previous seasons or have minor flaws.

Monday, March 2, 2015

The objective of this marketing model is to pass on low prices to consumers and "... stay competitive in different retail segments in the country." This is the case of the Best Brands shop, which uses the off-price model, which has reported a growth of 10% in 2014, compared to the previous year.

With respect to the outlet format, Mario Martinez, CEO of Simo, told Elfinancierocr.com that "... The company set up an outlet store to transfer leftover goods which have spent two seasons in stores which offer the latest trends. The prices are dropped only because of the season, but the products are new, of the same quality, original, and have the same guarantees. Discounts go up to 30%. "

Meanwhile, William Fondevila, manager of Best Brands, added "... The off-price system allows us to set prices which are between 25% and 75% cheaper compared to other stores. The products are totally new, fashionable and trending products which sometimes have not yet reached other countries; of original recognized brands and top quality. The chain has specific purchasing offices to seize opportunities when importing products. "

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