Luxury outlet: Saks Fifth Avenue Off Fifth

May 20, 2008 9:00:00 PM PDT
In our ongoing series 'On the Money': Where to get great shopping deals, now more than ever. In this tight economy, many people are pinching pennies.

But if you are in the mood for some retail therapy, Eyewitness News reporter Lauren Glassberg has a look at where to head.

And sales are a big part of the outlet shopping experience where rarely anything sells for full price.

And now more and more retailers are realizing that during tough economic times, their outlets offer them a strong opportunity to make money.

Vanessa O'Connell covers the retail industry for the Wall Street Journal and says as retailers hope to make more money off of their outlets.

Consumers stand to gain as well.

That's because retailers are improving the outlet shopping experience.

Saks for example is changing its off fifth outlets, upgrading the lighting and displays, adding sales people and even offering alterations.

The stores will go from looking like this one in Jersey Gardens to the one that is a prototype in Orlando.

Plus, the inventory is changing.

Even the name is flip flopping from 'Off Fifth' to 'Saks Fifth Avenue Off Fifth' lending more prestige.

This may encourage shoppers to bypass the swanky retail stores altogether in favor of the outlet option.

But for some shoppers, there's only one thing that matters - savings.

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