Retailers are kicking off the new year by slashing prices across various product categories. The sales come as Americans seek to make the most of reduced prices on holiday gifts and festive items.
According to an estimate from the National Retail Federation, US shoppers spent between $979.5 billion and $989 billion during the holiday season. This represents a 2.5% to 3.5% increase in retail sales compared to last year.
To stimulate demand, retailers are now offering bigger discounts than last year, with some stores even holding “going out of business” sales. Budget-conscious shoppers have been taking advantage of these deals, which is especially important for retailers struggling to attract consumers amidst inflation woes.
Some notable retailers offering significant post-Christmas sales include:
* Amazon: Winter sale with up to 40% off on products like vacuum cleaners and air fryers
* Walmart: Clearance sales with discounts on items like air fryers (50%) and artificial Christmas trees (70%)
* Best Buy: “Ring in the new year” sale offering discounts on laptops, televisions, video games, and appliances
* Hobby Lobby: Up to 75% off select clearance items including home decor, arts supplies, and party goods
* Lowe’s: Closeout event with up to 40% off lights and ceiling fans, as well as 50% off select vanities
The sales come at a time when some retailers are facing challenges due to high inflation and store closures. However, the discounts may not have a significant impact on overall prices, given that American shoppers have grown accustomed to reduced prices over the past few months.
Source: https://www.cbsnews.com/news/after-christmas-sales-amazon-target-lowes-best-buy-ulta-walmart