Bargain hunters soon might find large discounts at some of their favorite stores. And they have the COVID-19 pandemic to thank for the deals.
The Wall Street Journal reports some of the nation’s biggest retailers — Walmart, Target and Macy’s — may offer big price breaks on products such as:
- Electronics, including laptops and TVs
- Outdoor furniture
These products are arriving two years late — thanks to pandemic-related supply chain issues – and now, retailers are willing to offer big price breaks starting around July 4.
Mickey Chadha, a Moody’s Investors Service analyst, tells The Wall Street Journal: “There are going to be discounts like you’ve never seen before.”
Why have retailers become so generous? According to the WSJ:
“Retailer discounts are part of an effort to get shoppers interested in buying things again as Americans shift their spending to concerts, eating out, and travel they missed out on. Deep discounts are expected on oversize couches, appliances and patio furniture that are more expensive for companies to store in their warehouses, analysts say.”
The WSJ says that some retailers may hold out against offering bargains too quickly. But others that sell their own product lines — such as the Gap — may have no choice but to offer great deals soon.
Bargains also are more likely in metro areas, where more product was ordered during the pandemic, the WSJ reports.
On the other hand, products that are unlikely to see great deals are:
- Home staples
- Luxury items
For more tips on cutting costs the next time you shop, check out “9 Best Shopping Apps to Save Money.”