This article was originally posted on LearnVest.com.
Oh, the outlet mall.
It gleams like an oasis of designer savings in the desert. It’s a day of promised savings, rewarding the dedicated shopper who will find a trove of off-price goods that were sold at luxury retailers—perhaps last season, but who’s counting?
That is occasionally still true. But over the last few decades, as retailers recognized the profitability of attracting Americans looking for a deal (yes—they will use this great quality about you against you!), they began to build an industry around outlet shopping that is completely separate from their regular business. And it’s working–there are 13,000 outlet stores around the country, and every year outlets draw more tourists than attractions like Washington D.C.’s museums or Philadelphia’s Liberty Bell.
The industry is based on some secret tactics designed to fool the customer–don’t be suckered.