Tanger Inc. Common Stock (SKT)

Competitors to Tanger Inc. Common Stock (SKT)

Brookfield Properties Retail Group

Brookfield Properties Retail Group, a division of Brookfield Asset Management, operates a variety of retail centers, including shopping malls and outlet centers. It competes with Tanger by providing high-quality retail spaces that attract both high-end and discount retailers, thereby catering to a diverse customer base. Brookfield has the advantage of capital from its parent company, allowing it to renovate, manage, and upscale existing properties. This financial backing enables it to offer a more diverse product mix and comprehensive tenant services compared to Tanger.

CBL & Associates Properties, Inc. 

CBL & Associates Properties operates shopping centers and has a significant presence in the outlet sector as well. They compete with Tanger by offering a mix of outlet and traditional retail shopping experiences. CBL has a strong focus on regional markets, which allows them to tailor their offerings to the local demographics. Their competitive advantage lies in the diversification of retail formats, which can appeal to a wider range of shoppers. However, unlike Tanger, they face challenges with financial stability and overall portfolio performance, placing them at a slight disadvantage.

Outlet Centers of America

Outlet Centers of America primarily focuses on developing and managing outlet shopping centers across the United States and competes directly with Tanger in the outlet sector. Their strategy involves creating value through strategic locations and partnerships with retailers. While they may not currently rival Tanger's scale, they emphasize lower operational costs and localized marketing strategies to attract customers. However, without the extensive branding power and market presence of Tanger, they are still considered a niche competitor within the outlet segment.

Simon Property Group 

Simon Property Group is one of the largest owners of retail real estate in the United States, and like Tanger Inc., it operates outlet and shopping centers. The competition arises primarily from their ability to attract tenants, generate foot traffic, and enhance customer experiences. Simon has a diversified portfolio that includes regional malls and premier outlet centers, giving it a broader market appeal. Moreover, Simon's larger scale provides it with negotiation power and financial stability, which enhances its capacity to invest in development and marketing initiatives, making it a strong competitor in the outlet space.

The Mills Corporation (part of Simon Property Group)

The Mills Corporation, now embedded within the Simon Property Group, originally focused on large-scale retail and entertainment centers that included outlet shopping. While it has transitioned into a subsidiary of Simon, its competitive perspective still plays a role in how Tanger competes within the wider retail outlet landscape. The Mills' extensive experience in developing entertainment-focused retail spaces complements Simon's strategy, making it challenging for Tanger to compete on the same level, especially in terms of destination shopping experiences.