Consumers Seek Eternal Bargains: Tanger CEO
Black Friday bargains aside, uncertain economic times have launched consumers on a never ending quest for "great value on great products", the president and CEO of Tanger Factory Outlet Centers old CNBC on Friday.
In the midst of a widening debate about whether early bird Thanksgiving deals are creating shopping fatigue, Steve Tanger, who runs the eponymous chain of North American outlets, told CNBC's "Squawk on the Street" that traffic at Tanger's shopping centers was set for another record year.
The search for value was not just limited to occasional holiday oriented sales, he said, alluding to something that could be even called 'Black Everyday.'
"Consumers want value every day on the best brand-name designer products in the world," Tanger said. "They get those at Tanger Outlets. There are a lot of different shopping venues. The outlet stores remain the place where they get the best value every day of the week," he added.
Despite a blanket of uncertainty covering the U.S. economy and retailers, Tanger said his outlet centers were doing brisk business, adding that his stores were "about 98.6 percent occupied" as of the third quarter of this year.
"We're going to try and fill as much of the demand for consumers loving the outlet experience and our tenant partners trying to provide great products for the consumers," Tanger said.
-By Javier E. David of CNBC.com