Remember the whole Covid pandemic thing? I have a small glimmer of positive news that came out from all of it. And by the small glimmer of positive news, I mean for average everyday consumers… Not publicly traded companies or anything like that.
When the CCP bat fever was first getting underway, a BUNCH of Americans hopped online to buy stuff. More specifically, since people were spending so much time at home, they started to look around and see all the areas for improvement. In the first few months of the pandemic, we saw LOADS of people redoing their kitchens, bathrooms, landscapes, etc. We also saw a bunch of people who wanted to upgrade their TVs, furniture, appliances, etc. Essentially, people were buying stuff like never before due to the lack of leaving the house AND all the money the federal government was throwing around.
This led to shortages of things. Big box stores and online retailers couldn’t supply all the demand for home upgrades. And what happens when the supply isn’t enough to meet the demand? You supply more!
Buyers at all the major retailers put in massive orders for patio furniture, TVs, dressers, mirrors, you name it, in order to meet the consumer demand. This massive ordering spree coupled with the difficulty to find manufacturers during covid, resulted in big-time delays. Ordering a kitchen table and having to wait 8 months for it to arrive was not uncommon.
But that’s no problem, delays suck but by the time we’re in stock, the demand will still be there, right? WRONG.
According to NBC News, Target, Walmart, Kohl’s, Macy’s, and a bunch of other big box stores are finally getting the products in that they had ordered MONTHS ago. The problem is, the economic climate has changed since those orders were made (idk if you’ve noticed). Inflation is way up and the appetite for non necessitates is down.
At this point, retailers now have too much inventory and are needing to find a way to get rid of it all. WHICH IS A WIN FOR THE CONSUMER looking to save a buck!
Target, Walmart, and others have announced that starting in the middle of July, there are going to be sales like you’ve never seen before in order to purge the unwanted inventory from their books. Starting the middle of this month, you could see prices on things like patio furniture and TV’s drop DRAMATICALLY.
In other words, is this the best time to buy non-necessities, given how bad inflation is? Probs not… BUT if you’re going to anyways, you could get a STEAL.
Happy shopping.
