Tanger Factory Outlet Centers has grown its occupancy to 97.2 percent as of June, with even more shoppers expected to hit the outlets this month for back-to-school shopping. Tanger Outlets (SKT) CEO Stephen Yalof joined Yahoo Finance Live to discuss the state of the consumer and the economic outlook for the outlet shopping industry as part of the weekly series "Retail Evolution: The New Era."
Yalof said, "Outlet centers are a value shopping experience for people that are looking to buy brands at the best possible price. And in this environment right now, that's what the customer is looking for."
With regard to luxury brands, Yalof added, "Our customer is an aspirational customer ... they're looking to buy into these brands that they may have never had an opportunity to buy into before ... we see part of the outlet narrative not only providing great value to shopper, but giving the retailer access to a whole new customer that they never saw before."
