NEW YORK — Christmas in October?
Many consumers and retailers are looking for that sigh of relieve as we head into the holiday season.
Big box retailers like Walmart and Target to major department stores – retailers are cutting prices, the result of too many unsold items on store shelves.
“So, a lot of retailers are still sitting on a lot of inventory and select categories. And so I would expect to see deep discounting,” smart shopping expert Trae Bodge of TrueTrae.com, said.
Recently, Nike reported its inventory levels soared to 65% in North America, its largest market. The company said it has too much clothing in stock.
Some experts say now might be the time to start crossing items off your wish list.
“Retailers are sensing that consumers are going to be tightening their belts with inflation as high as it is. So retailers are really looking to incentivize consumers to shop now,” Bodge said.
Target is one of the retailers getting into the pre-season. They are running “Deal Days” beginning Oct. 6 through Oct. 8 in stores and on their website. Any items purchased during the deal days will qualify for a price adjustment if its Target price lowers on or before Dec. 24.
Amazon also announced their Prime Early Access sale which will be held from Oct. 11 through Oct. 12, exclusive to Amazon Prime members.
For shoppers who do most of their purchasing online, FedEx CEO Raj Subramaniam’s recent comments may have been worrying, saying the company is reducing flights, trimming hours for its staff and closing 90 FedEx office locations.
Others like USPS said they are ready for the demand and has hired an additional 28,000 employees and has hundreds of package sorting machines.
“The things that I would hold off on would be the things that are more typically deeply discounted around Black Friday, Cyber Monday like TV’s,” Bodge said. “I would also hold off on any winter apparel, those would be more deeply discounted later in the season.”
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