Dive Brief:
- Hoping to drive e-commerce and in-store traffic, Simon plans to host its second annual National Outlet Shopping Day event on June 10 and 11 across more than 90 Simon Premium Outlets and The Mills locations in the U.S., Canada, Thailand, Mexico and Malaysia, the company announced Wednesday.
- The company said it will also host livestream shopping events and introduce limited-time offers on its website.
- Among the retailers participating in the event are Banana Republic Factory Store, Tommy Hilfiger, Kate Spade New York, J. Crew Factory and Polo Ralph Lauren, per the press release.
Dive Insight:
Simon’s National Outlet Shopping Day may mark the start of the summer sale season — one that is usually defined by Amazon’s Prime Day. In 2021 and 2022, the e-commerce giant offered Prime Day sales in July, during which it offered discounts on items for those shoppers with a Prime membership.
The timing of Simon’s event could boost sales as it has for other retailers previously. In 2021, the Adobe Economy Index found that overall e-commerce sales exceeded $11 billion during Amazon’s Prime Day sales. The following year, shoppers spent $22.4 billion during the 2022 Prime Day week, up 6.1% year over year.
As inflation takes its toll on consumers’ wallets, shoppers focused on more affordable products during last year’s Prime Day sales. According to a report from Numerator, more than half of consumers bought items for less than $20, and only 5% of items sold for more than $100. With inflation continuing to fluctuate in 2023, Simon appears to seek shoppers hunting for more bargains.
“We were delighted by the overwhelming response to last year’s inaugural National Outlet Shopping Day,” Mikael Thygesen, chief marketing officer at Simon, said in a statement. “With word-of-mouth momentum, more great deals, and shoppers seeking value in the current economy, we expect excitement surrounding this year’s event to be even higher.”
