Retailers have a problem on their hands right now - they’ve got too much stuff to sell. A problem for them, but a good thing for customers.
Shopping now may be your best time to score big bargains ahead of the holidays.
This time last year there were warnings to get a jump on your holiday shopping before stores ran out of everything. Supply chain issues were causing widespread shortages, and everything from electronics to Christmas trees were in short supply.
But fast forward one year and now retailers are faced with a surplus of goods. That means discounts, and a lot of them!
Get New England news, weather forecasts and entertainment stories to your inbox. Sign up for NECN newsletters.
Mark Mathews, vice president of research development and industry analysis with the National Retail Federation, says retail sales last year were at a record 14%, and since orders are made months in advance, stores over-ordered products based on demand. But by the time inventory arrived, consumer behavior had changed.
“So, suddenly you have a lot of items that aren't necessarily selling,” says Mathews. “And now, as we move into the holidays, you need that shelf space. So you need to be able to move those items in. The way that retailers tend to do that is to discount it.”
Adobe predicts early deals will push customers to shop earlier than ever, cutting into Black Friday and Cyber Monday traffic.
Responding to your consumer needs and connecting you to your money.
“And they're looking for discounts earlier and retailers are offering those discounts right now,” says Mathews.
The biggest discounts will be on computers, with markdowns as high as 32%.
Electronics are set to hit 27%, televisions and apparel 19% and appliances could reach up to 18% in discounts.
As we head into the holiday shopping season, experts say there are certain days that are better to shop for a particular item.
Thanksgiving Day will be the best day to shop for electronics. Black Friday is the day for televisions, but wait until November 27 to buy apparel and sporting goods.
And, you’ll likely find the biggest discount on computers and furniture on Cyber Monday, but if you’re shopping for appliances, hold off until December first.
Have a consumer complaint? Reach out to the NBC10 Boston Responds team online or call 1-888-521-NEWS.