EAST PROVIDENCE, R.I. (WPRI) — You may have noticed that major retailers, like Target and Walmart, have been promoting all sorts of sales lately.
But do you know the reason why?
Johnson & Wales University marketing professor Kristen Regine tells 12 News it’s because retailers are trying to clear out surplus inventory accrued during throughout the pandemic.
It all started when the supply chain starting becoming less reliable, according to Regine.
“When it started to become an issue, retailers started almost panic buying for the following year to make sure they were in a better position supply chain and inventory-wise,” she explained.
Regine said now that shoppers aren’t stuck at home, their spending habits have changed drastically.
“[Retailers] stocked up on TVs and small kitchen appliances,” Regine said. “It was during a time where families were hunkering down and staying home … and now everyone is like ‘let’s go back out to eat.'”
Rising inflation is also making shoppers more selective with their purchases, according to Regine. That’s why retailers are marking all sorts of items way down.
“Some as much as 40% off,” Regine said. “It is priced aggressively to move some of that stuff out.”
Regine encouraged shoppers to take advantage of these sales, especially since it’s unclear how long they’ll last.
The best way for shoppers to stay in the know, she said, is to sign up for their favorite stores’ news letters and pay attention to their advertisements.