SIC Code 5999-31 - Factory Outlets (Retail)

Factory Outlets (Retail) is a type of retail store that sells products directly from the manufacturer to the consumer. These stores offer a wide range of products at discounted prices, making them a popular shopping destination for bargain hunters. The products sold in factory outlets are often overstocked, discontinued, or slightly imperfect, but still of good quality. Factory outlets are typically located in out-of-town locations or in shopping centers, and they often have large parking areas to accommodate the high volume of customers. These stores are known for their spacious layouts and large product displays, which allow customers to easily browse and compare products. The business model of factory outlets involves cutting out the middleman and selling products directly to the consumer. This allows manufacturers to sell their products at lower prices while still maintaining a profit. Factory outlets also help manufacturers to clear out excess inventory and generate revenue from products that may have otherwise gone unsold.