Overstocked retailers roll out the discounts
October 10, 2022
Retailers were holding a record amount of inventory — $732 billion as of July, up 21 percent from last year — according to Census Bureau data. This has led to deep discounting as retailers look to turn merchandise ahead of the Christmas selling season. “There is an increasing smell of desperation in the air because retailers are saddled with a ton of excess,” said Elaine Kwon, managing partner at Kwontified. “Some brands that claim they never discount are going to start discounting, especially outerwear, winter wear, cold weather items, inventory from last winter — they’re desperately trying to get rid of that before their new stuff comes in.”
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