Off-price retailers are stocking up on discounted merchandise as Walmart, Target and other big retailers slash prices to unload excess inventory.
David Paul Morris / Bloomberg via Getty ImagesBig retail chains face mountains of excess inventory as long-delayed orders of goods that were popular during the earlier days of the pandemic pour in, only to be met by consumers whose preferences and shopping habits have changed.
“I don’t think any retailer could have planned [for] this drastic sort of cliff and how it was going to happen,” said Brett Rose, the CEO of United National Consumer Suppliers, a wholesale distributor that buys discounted and overstock products from manufacturers and resells them to retailers.Macy’s, Target, Walmart and other big retailers said inventory levels during the first quarter were up anywhere from 17% to 45% compared to the same time last year.
“They don’t want the clearance to cannibalize the full-price sales of those fresh products,” she said. “They would rather take the hit, move it through a channel where it can’t be compared to their full-price items and do the best they can with the new fresh product that’s arriving.” He said that according to Placer.ai’s research, about half of all shoppers at TJX, the parent company of Marshalls, TJ Maxx and HomeGoods, as well as Burlington and Ross, have household incomes of $50,000 or less. But as inflation continues to erode earnings and the threat of a recession grows, retail industry experts say, more consumers with higher household incomes could begin to trade down.
“I’m super excited to see more [clearance] red tags and yellow tags in Marshalls and TJ Maxx,” she said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Gold Price Forecast: XAU/USD bounces off $1,820 support zone, focus on US data, Fed’s PowellGold Price Forecast: XAU/USD bounces off $1,820 support zone, focus on US data, Fed’s Powell By anilpanchal7 Gold RiskAppetite XAUUSD Fed Recession
Baca lebih lajut »
Alaska Supreme Court ruling keeps Sweeney off House ballot - Alaska Public MediaOn Saturday the Alaska Supreme Court upheld a lower court’s ruling that will keep Tara Sweeney off the special election ballot. Three voters had sued, saying elections officials misinterpreted the law when they said Sweeney could not take the fourth spot.
Baca lebih lajut »
Yankees end 16-inning hitless streak, Aaron Judge delivers walk-off homer vs AstrosGiancarlo Stanton may have ended the New York Yankees' hitless streak but Aaron Judge put an exclamation point on the weekend against the Houston Astros.
Baca lebih lajut »
Alaska Supreme Court ruling keeps Sweeney off House ballotThe Alaska Supreme Court has upheld a lower court’s ruling that will keep Republican Tara Sweeney off the ballot for the August special election in Alaska’s U.S. House race.
Baca lebih lajut »
Christina Hendricks’ Go-To Makeup Remover Is 25% Off & Can 'Tackle' Removing Waterproof MascaraThis celebrity-approved makeup remover is so gentle yet said to be strong enough to remove waterproof mascara.
Baca lebih lajut »
Young Sheldon Actor Reacts to George Cooper Being Killed Off SoonYoungSheldon actor Lance Barber addresses his character George's impending death on the show. 'It doesn't worry me because we've known from the beginning. I've been blessed and so lucky to have all the time that we've had already.'
Baca lebih lajut »