US retailers stocked up on goods last autumn and winter only to face a demand downturn as consumers divert spending to increasingly expensive fuel and food
In many parts of retail, particularly clothing, there’s a sea of red price-reduction stickers washing across stores and websites as retailers mark down their unwanted stock. Shoppers should make the most of these sales — they may be as good as it gets for a while.
The reductions aren’t confined to apparel. Home furnishings, electronics, bikes, sneakers and even scented candles are all on sale after retailers from Best Buy to Bath & Body Works warned about sales and profit. US online prices fell for the first time in more than two years in July, according to Adobe Analytics, with the biggest reductions in electronics, computers and toys, while food and pet-supply costs remain elevated.
Yet consumers and policymakers should not take the current scenario for granted. Amid the fallout from the great inflation meeting the great pandemic rotation, consumer-goods companies will soon start to re-evaluate their buying strategies.
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