This is Why You Should do Your Holiday Shopping Early This Year
Last year around this time we were told to get a jump on the holiday shopping because stores may run out of things we want to buy. Remember how ships were stuck waiting to get into a port and merchandise were on cargo ships for months and months waiting to get unloaded. We saw empty shelves down almost every isle. To avoid this some of retail’s biggest players chartered their own ships to keep shelves stocked.
This year, retailers are facing the exact opposite problem: they have too much stock to sell. Orders are made months in advance. Stores and brands over-ordered product based on the demand they were seeing when shoppers were shopping with money from their stimulus checks. And what happens when stores have excess inventory? Big sales come our way like “Black Friday” in October. Target and Walmart are among the chains that have all already started their holiday promotions, and Amazon’s second Prime Day starts today.
According to Adobe Analytics, discounts will hit record highs this holiday shopping season for electronics, toys, and computers. The early deals will push consumers to shop sooner, cutting into how much business retailers can expect to see on the real Black Friday and Cyber Monday, even though the steepest price drops are still likely to come in late November.
I will start my shopping early and hold out for what I feel are the best deals of the season. – Maryann Morgan
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