A glimmer of relief is emerging at the checkout aisle: the return of discounts
Walmart , Best Buy , Gap , Target , Bath & Body Works and others are increasing promotions and lowering prices on merchandise to entice inflation-weary shoppers to buy extra goods sitting on their shelves.Months ago these chains stocked up on merchandise, preparing for supply chain shortages and what they projected to be robust consumer demand. But since they ordered, their plans have been derailed by the highest inflation in more than 40 years and slumping consumer confidence.
Walmart said it would take more markdowns than it previously expected to throughout the inventory, particularly for clothing.The company also introduced a new program for customers to buy refurbished items from brands like Apple and Samsung for cheap.Best Buy: On Wednesday, Best Buy said inflation was impacting consumer-electronics spending, and the electronics industry would be promoting more stuff.
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