Which of the following best describes extreme value retailers?

Extreme value retailers are primarily characterized by their focus on offering a wide variety of general merchandise at very low prices. These retailers appeal to cost-conscious consumers by providing products that meet basic needs without the frills of higher-end offerings. They typically stock a broad assortment of goods, which can include everything from household items to food products, all while maintaining a low-price strategy.

This model is effective because it allows these retailers to attract a large customer base that prioritizes value over brand prestige. By focusing on a full line of products at significantly lower prices than traditional retailers, extreme value retailers can turn a profit through high sales volume rather than high margins on individual items.

In contrast, the other options describe different types of retail strategies. Luxury brands are focused on exclusivity and high pricing, clearance items imply a focus on overstock or discontinued products rather than a full line, and designer merchandise suggests a premium pricing strategy that does not align with the core concept of extreme value retailers, which are all about affordability and accessibility.