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2/10 net 30 - this means the buyer must pay within 30 days of the invoice date, but will receive a 2% discount if they pay within 10 days of the invoice date. 3/7 EOM - this means the buyer will receive a cash discount of 3% if the bill is paid within 7 days after the end of the month indicated on the invoice date.
In the 1960s and 1970s the term "discount department store" was used, and chains such as Kmart, Zodys and TG&Y billed themselves as such. The term "discount department store" or "off-price department store" is sometimes applied to big-box discount retailers of apparel and home goods, such as Ross Dress for Less, Marshalls, TJ Maxx, and Burlington.
Discounts are up to 80%. One more relatively young off-price retailer in the U.S.A. is Saks OFF 5TH network, appearing in the market in 2016. Saks OFF 5TH network operates over 100 stores in the United States, and offers women's, men's and children's clothing and footwear, and also accessories and household products from over 800 premium brands.
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