A glimmer of relief is emerging at the checkout aisle: the return of discounts. Here's where you can find them.
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.
People are also reading… This has left retailers with too much of the wrong stuff: Think back to the early days of the pandemic, when everyone was redoing their homes and buying new laptops. Stores are overloaded with that stuff now, and they need to discount those items to juice demand. "These retailers have mispositioned their inventory," said Brian Nagel, a retail analyst at Oppenheimer & Co."In certain areas, they're too heavy on inventory and need to clear it out."
So shoppers can expect to find more deals on discretionary goods such as clothing, electronics, furniture, home goods and bath items — the stuff that has been highly sought after since the start of the pandemic and many people may have already bought.™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.
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