At Best Buy, Samsung TVs were cut from $1,400 to $900. At Target, a four-piece patio set originally priced at $1,090 is now just $443.
Consumers are experiencing sales galore as stores everywhere advertise big savings.
While many across the U.S. are being hit by higher prices at gas pumps and grocery stores, some shoppers are finding welcome relief at stores and malls across the country.
Store shelves that once sat empty because of supply shortages at the height of the COVID-19 pandemic are now packed to the brim.
Many retailers ordered products they stock more aggressively this year in an attempt to avoid such shortages once again. And once backlogs began to catch up, many retailers found themselves with a surplus of inventory.
The phenomenon, known as the “bullwhip effect,” has led many stores to offer deep discounts to free themselves of their overstock.
“Retailers went a little crazy stocking up on inventory, but now that inflation is rising and people are pulling back on spending, they are finding that they have too much,” consumer savings expert Andrea Woroch told Inside Edition. “And because of that, they are now rolling out discounts to get people to buy them.”
At Best Buy, Samsung TVs were cut from $1,400 to $900. At Target, a four-piece patio set originally priced at $1,090 is now just $443.
“It’s very unusual to see seasonal deals at the beginning of summer,” Woroch said, noting that such sales usually occur at the end of the summer.
At the Glendale Galleria Mall in Los Angeles, clothing stores like Macy’s are offering 20 to 50% off storewide.
“We love a great sale,” one shopper told Inside Edition.
After saving $100 on Crocs footwear, a shopper said, “It was a good deal, definitely.”
