1 of 1 Photo: AFP
I know you just went to Target the other day, but you should head back because they're doing some great discounts due to having an overflow of inventory.
"There is a need to clear down inventory - even if that means discounting - to rebalance stock levels and make more room" for these categories in high demand, said GlobalData Retail analyst Neil Saunders. The reason behind this is that people are making fewer high-end purchases because of inflation and they also don't have that extra cash from the stimulus checks. People are focusing more on buying necessities like food, household and self-care items.
Target isn't the only one experiencing these problems of having too much inventory. Walmart, Gap and Urban Outfitters are also planning to mark down prices to help clear out their overflow of inventory. Click here for more.