Currently, the most eye-catching business format in the market is undoubtedly discount retailing.

TJX, the global king of discount retail, has demonstrated such strength that it is incredibly enviable.

While the retail industry is generally forced to play a defensive battle, TJX still dares to expand aggressively.

It is said that in May of this year, at its financial report meeting, the company's CEO and President, Ernie Herrman, stated that in the next few years, the group will open at least 1,300 new brand stores.

It should be noted that TJX already has more than 4,900 stores, which is a substantial volume.

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In the latest fiscal year, its annual sales reached over 50 billion US dollars, equivalent to nearly 400 billion RMB, and its latest market value has surpassed the 100 billion US dollar mark.

In terms of market value, TJX is equivalent to 1.8 Targets, 24 Macy's, and 48 Kohl's, leaving many American retail department stores far behind.

At the same time, this discount retail brand is also very popular.

Its chain of discount stores selling discounted brand clothing, jewelry accessories, and fashionable home goods have a large selection of high-quality brand and designer products every week, even attracting the Duchess of Cambridge to shop.

Pop superstar Taylor Swift is also a fanatical fan, and it is said that when she is unhappy, she often goes shopping to "heal".

Many ordinary people in Europe and America who want to find some treasures may not necessarily drive an hour to the suburbs of the outlet.

Instead, TJ Maxx, which offers a large discount and a variety of goods, close to the community retail center, is their YYDS.

TJX focuses on clothing and home goods discounts, and many people in China are accustomed to comparing it with VIP.com, even calling it the "offline version of VIP.com", and have good expectations for the development of discount retail in China.

However, in reality, there is still a long way to go for VIP.com to be called the "online version of TJX".

Just looking at the volume, there is an insurmountable gap between the two - in terms of annual sales, TJX is twice the size of VIP.com, and the market value is 17 times that of VIP.com.

However, if you say that Chinese discounts are not as good as American ones, it is not necessarily true.

The American people have long been accustomed to discount consumption, and their consumption habits have fundamentally created the glory of TJX, while Chinese consumers have just begun to feel the charm of discount consumption.

In recent years, Chinese consumers have awakened to rational consumption awareness and have begun to redefine low prices: low prices should be based on the premise that brands and quality are guaranteed.

The attractiveness of 9.9 for consumers is fading, and big brand discounts are becoming more and more popular.

VIP.com's resurgence is very typical.

Many people were not very interested in it before, thinking it was a niche platform, but now a large number of young people have started to embrace discounts and have found this "treasure app".

Last year, VIP.com's advantage category of clothing and shoes saw a surge in revenue of 24%, driving the entire platform's GMV to exceed 200 billion for the first time.

More importantly, there are only 300 million American consumers, while there are as many as 1.4 billion Chinese consumers, and China has a much larger consumer market.

The gap in market size brings the growth space for domestic discount consumption can be imagined.