Decoding T.J. Maxx's Pricing Strategy

What is the primary reason T.J. Maxx sells items at a lower price?

• Price matching with competitors

• Producing their own products

• Buying excess merchandise and canceled orders

• Exclusive online sales

What psychological effect does T.J. Maxx utilize to show value to customers?

• The anchoring effect

• The scarcity effect

• The halo effect

• The bandwagon effect

How does T.J. Maxx compare its prices to show discounts?

• Asking customers for their opinion on value

• Setting their own comparison prices

• Comparing to similar products when identical items are not available

• Using the highest price found online

What does T.J. Maxx's comparison price indicate?

• The cost to produce the item

• The price at which most items sell

• The lowest price available online

• A reference to regular retail prices

How often does T.J. Maxx's inventory change?

• Monthly

• Weekly

• Daily

• It varies significantly

What is a key factor in T.J. Maxx's ability to quickly stock new merchandise?

• Automated warehouses

• Advanced AI technology for inventory management

• Buyers have authority to cut deals on the spot

• Exclusive contracts with shipping companies

What is T.J. Maxx's internal saying about merchandise setup?

• "First come, first serve"

• "Quality over quantity"

• "Customer is king"

• "Door to floor in 24"

How does T.J. Maxx's store layout contribute to the shopping experience?

• Using high-tech displays

• Grouping items by type and changing layout

• Offering virtual reality tours

• Organizing items by brand

What unique challenge does T.J. Maxx face with e-commerce?

• Their website is not user-friendly

• They do not sell online

• Their core strategy focuses on in-store experiences

• Online prices are higher than in-store

Why does T.J. Maxx perform well during economic downturns?

• Online shopping becomes less popular

• They offer luxury brands exclusively

• Customers are more conscious of bargains

• They lower their prices even more