The TJX Companies Inc. (TJX) has been aiming to improve its online sales for a long time after its failed attempt in 2004 following low sales and operating losses. Recently, the off-price apparel retailer launched its official online shopping site tjmaxx.com. The discount retailer launched its website quietly, this time without any fanfare.
As per Associated Press, tjmaxx.com, which became operational on Sept 19, 2013 can be operated from tablets and smartphones and is expected to appeal to the young people, who are the main target consumers for the company. The company's stores bring teen consumers the best of both worlds because they can get trendy up-to-date designer names at a deeper discount than the big department stores.
The official launch of the website is, however, not an isolated step by TJX towards going on line. In Dec 2012, TJX acquired Cheyenne, Wyoming-based off-price Internet retailer Sierra Trading Post to boost its online sales. TJX was able to leverage Sierra’s expertise and experience in online retailing and exploit it for its own e-commerce site.
More and more retailers are opting for e-commerce as it saves them from the chaos involved in discount shopping. It attracts new customers for the company and gives the existing customers the convenience to shop whenever they want from wherever they are. Other off-price retailers like Saks Inc. (SKS), Ross Stores (ROST) and Nordstrom Inc. (JWN) are also opting for e-commerce as a measure to boost their sales.
The TJX branded e-commerce website could prove to be a huge benefit for the company as discount stores in the U.S. are witnessing top-line growth even during recessionary times with their offering of branded clothing at discounted prices. Currently, TJX carries a Zacks Rank #3 (Hold).