One of the fastest-growing categories in retail is positioned to become an even more formidable competitor.
Off-price stores, whose sales growth has outpaced others in the industry over the past several years, have long struggled to overcome the very thing that's made them popular with consumers: The art of the treasure hunt.
In the past, when traditional retailers or brands have tried to offload inventory to these stores, which include T.J. Maxx and others, the stores are handed a long list of codes that correspond to each style up for sale.
Because these lists are so tough to decipher, off-price buyers are often stuck searching for images of each of these products, or placing bulk orders without knowing exactly what they're getting.
A new software solution hopes to change that. Created by 2-year-old technology company Inturn, the program automatically calls up images for each item being sold, thereby speeding up the negotiation process. Items can also be filtered by brand or category — for example, dresses or T-shirts — making it easier for stores to buy products as a collection.