If you have yet to buy your holiday gifts, there is some good news. Excess inventory due to supply chain delays of 2021 means retailers are offering some steep discounts.
“So all the product that was supposed to arrive last year for the holiday season arrived for many retailers this Q1, January, February, March,” said Elaine Kwon of the retail consulting firm Kwontified.
U.S. retailers have been sitting on more than $700 billion in inventory since the summer, a hangover from the COVID shutdown shopping frenzy. Money saving expert Trae Bodge of TrueTrae.com says shoppers can expect deep discounts as retailers scramble to empty their warehouses.
“So I would be looking for a clearance level deals. I would say 40% to 70%. That’s the sweet spot for me,” said Bodge.
Stores everywhere are offering discounts, from “Buy one, get one free” to 75% off.
Experts warn: If you find a good deal, snatch it up fast.
“With the excess inventory, some retailers have actually pulled back on how much additional inventory they’re bringing in. So once the current inventory for some of these products sells out, it may be out for the rest of the year,” said Bodge.
These sales are expected to carry into the new year. Also, some stores like Target and Walmart offer purchase protection, meaning that if you buy it then find it for a cheaper price somewhere else, you can get a refund for the difference.