Bargain Hunt, formerly ''Essex Bargain Hunt'', is an American

discount store A discount store or discounter offers a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient distribution to keep down cost ...

chain. Founded in 2004, Bargain Hunt is headquartered in

La Vergne, Tennessee La Vergne ( ) is a city in Rutherford County, Tennessee. The population was 38,719 at the 2020 census. La Vergne lies within the Nashville Metropolitan Statistical Area. History La Vergne was incorporated in 1861. Historical variant names inc ...

with retail locations in Tennessee,

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and

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History

''Essex Technology Group'' — Bargain Hunt's parent company was founded in the year 2000 in Nashville by Robert Echols and Phil Pfeffer. They started the company as a wholesaler of closeout goods. The company bought

overstock Overstock, excessive stock, excess2sell, B-stock, or excess inventory, is the result of poor management of stock demand or of material flow in process management. Excessive stock is also associated with loss of revenue owing to additional capita ...

and excess inventory goods from big box retailers and sold them. Initially, the focus was on

electronics The field of electronics is a branch of physics and electrical engineering that deals with the emission, behaviour and effects of electrons using electronic devices. Electronics uses active devices to control electron flow by amplification ...

and computers. The first store was opened in 2004 in Nashville and was known as ''Essex Bargain Hunt''. The company also began an

online store Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the r ...

selling directly to retail customers from its original Nashville location. The strategy was to sell items that were too big or expensive to sell online. After a successful run, Essex launched the Bargain Hunt superstores using locations abandoned by stores such as Staples and Circuit City. The name was later changed to Bargain Hunt. In 2020, the company won one of the Alliance Awards 2020.

Expansion

Bargain Hunt opened its first store in Nashville in the year 2004 and went on to expand in Southern and Midwest United States. The chain operates more than 80 stores in 10 states as of 2017. In 2015,

Thomas H. Lee Partners Thomas H. Lee Partners, L.P. is an American private equity firm based in Boston investing in middle market growth companies across financial technology and services, healthcare and technology & business solutions. History Founded in 1974 by ...

acquired a majority stake in the retail chain.

Retail Format

Bargain Hunt stores are typically around 20,000 - 25,000 sq ft. in size and sell products such as electronics, movies and music, furniture, home improvement, clothing, footwear, jewelry, toys, health and beauty, pet supplies, sporting goods and fitness.

Sales Strategy

The stores sell name brands at a discount of 30% to 70% on regular prices and play in the

extreme value In mathematical analysis, the maxima and minima (the respective plurals of maximum and minimum) of a function, known collectively as extrema (the plural of extremum), are the largest and smallest value of the function, either within a given ran ...

retail space. The store also utilizes a discounting program that drops the prices on items by specific percentages depending on the time they have been on shelves. The company will eventually discount its merchandise on a 30, 60, and 90 day cycle (30 days gets 30% off, 60 days gets 60% off, etc.).

External links

Official website

LinkedIn

References

{{reflist Retail companies established in 2004 Discount stores of the United States American companies established in 2004 2004 establishments in Tennessee Companies based in Tennessee