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What Penny Hoarder hasn’t been tempted by the thrill of a good deal?
If you’re into brand name goods, you’ve probably been lured to the local outlet mall in the hopes of snagging some luxury items at deep, deep discounts.
Whether you’re shopping for mid-range brands like Gap and Banana Republic, or the higher-end houses, like Coach and Burberry — outlet malls seem like great places to splurge at a fraction of the cost.
But are you really getting huge discounts at outlet stores? Unfortunately, the answer is usually no.
Here’s the truth about outlet stores that they don’t want you to know.
Do Outlet Stores Offer High Quality at Low Prices?
One reason to consider luxury labels (albeit at a wildly discounted cost) is because they’re made to last. Yes, part of their jacked-up price is due to the brand name, but it’s also because luxury goods are often made of higher-quality fabrics in a higher-quality manner.
If you don’t care that the Coach bag you got at an outlet is “so last season,” you can probably expect it to weather several seasons and still look fabulous, unlike the cute bags you might pick up for a steal at Target that last less than a year if you’re lucky.
Right?
Not necessarily.
Most consumers assume outlet malls stock their shelves — and clearance racks — with excess inventory, end-of-season or slightly flawed factory seconds (think: a seam with a few errant stitches). In other words, the same stuff you’d find at full-price retail stores.
But the truth is, many outlet stores sell their items cheaper than their retail counterparts because their quality is cheaper, too.
Say hello to a dirty little industry secret: made-for-outlet products.
As the Federal Trade Commission (FTC) reports on its Consumer Information blog:
“Many stores sell products at their outlets made exclusively for those outlets. These items may be of lower quality than what’s sold in the regular stores. For example, a jacket might…
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