Surprise! Deep discounts are available in U.S. stores, surprising shoppers who have struggled with rising prices. Big sales are being made because of the merchandise from cargo ships that were stuck at sea during this supply chain crisis.
Burt Flickinger (Managing Director for Strategic Resource Group), stated that it was a retail armageddon.
He said that this is good news for shoppers.
He stated, “Biggest Discounts — Consumer Electronics, Sporting Goods, on Apparel, Clothes, and Accessories.”
This merchandise surplus is coming at a time where inflation is forcing consumers into a downward spiral. Flickinger claims that some stores have excess merchandise by 30% or more and that there is no room to store everything. Target recently acknowledged that it must “right-size” its inventory and plans to do so with “additional marking downs.”
Flickinger stated, “You have too much goods and too many shops chasing too few customers with too few dollars.”
Bargain Hunt sells extra goods at up to 70% less than retail. Bargain Hunt executive Norm Rankin sees something else this time.
According to Rankin, “The product’s condition — it has never left the box, it didn’t make it into the stores, it isn’t dog-eared, wrinkled, or ruffled having been stored on a shelf.”
Maryam Al-Hammami, a toy seller, is also being affected by the inventory overflow.
She spoke out about big-box stores, saying that her first thought was “I’m glad they’re not me.” “But then all of the sudden, I realized that I am them!”
She’s not yet having a sale. She’s trying to keep her toys in stock until the demand returns.
Al-Hammami stated, “It’s better to sit on product I bought for 20% less last September than it was for next month.”
After Labor Day, even more sales may be possible.
What about returns? Although retailers don’t like to mention this, many are now offering refunds to customers. They tell them to keep the item and not return it.
