SALT LAKE CITY — Many large retailers are dealing with excess inventory — their warehouses and stores are packed. For retailers, this is a situation that costs them a lot of money. For consumers looking to fight inflation, this is a bargain hunting opportunity.
In the days of the pandemic, when many of us were stuck at home, we bought things like televisions, furniture, exercise equipment, sportswear like there was no tomorrow. But tomorrow has finally arrived.
“So retailers rushed to order these items, many of which were then delayed, and now all of these shipments have arrived and retailers are sitting on a lot of overstocked goods,” explained smart shopping expert Trae Bodge. .
Bodge said stores like Target, Walmart, Kohl’s and others are now slashing prices on thousands of these overstocked products. We’re talking 50% off, 70% off, and even bigger discounts.
TOO MANY TRICKS! Stores panicked when there were supply chain issues and overordering. Now the warehouses are full to bursting. How it could mean cheaper things for you tonight on KSL 5 News at 6 p.m. @KSL5TV @KSLIvestigates pic.twitter.com/obY6rEes65
— Matt Gephardt KSL-TV (@KSLGephardt) July 19, 2022
“Retailers who can at least try to break even, or make a little profit, will now be discounting and trying to eliminate this merchandise so they can bring in the new fall merchandise,” Bodge said. .
Many overstocked items will also find their way directly from warehouses to the shelves of discount stores like TJ Maxx, Ross and Marshalls.
As for returns, Bodge said, retailers are sitting on so much inventory right now, many will just give you your money back and let you keep the things you don’t want.
“So if you’re ordering online and it’s not working for you, you can contact the retailer and they can give you credit and tell you to keep their merchandise instead of sending it back,” she said.
But it’s easy to get caught up in the frenzy of all these big deals right now, and that worries Bodge. She warned that you won’t save anything if you end up with credit card balances in your rush to grab a bargain.
“Be very honest with yourself about how much wiggle room you may or may not have in your budget, and then shop around accordingly,” she advised.
Bodge thinks it will only take a few weeks for the overstock frenzy to even out.
As for back-to-school shopping, aside from some electronics and clothing, she said you’ll find better deals later this summer.