When I was a kid, my mom would pull me out of bed when it was still dark the day after Thanksgiving. She gave me militant instructions: this is what we need, this is where it is, these are the psychological tactics you’ll use against other buyers to ensure we come out of Target with a reader DVD 75% marked down. This year, however, there weren’t many deals worth getting up early.
If you’ve been browsing store shelves or shopping online, you may have noticed a worrying lack of significant sales. You are not alone, according to the Washington Post. Like so many other facets of American life, major markdowns fell victim to supply chain issues. The overall cost of goods having increased by 6.8% since January 2021, for the post office, it’s not entirely surprising that discounts are weakening. The days of 50%, 60% and 70% sales are probably over in the near future. Due to inflation, labor shortages and transportation difficulties, major retailers are reducing discounts to customers to reduce costs and maintain profits.
“This season’s discounts, which range from 5% to 25%, are well below the historical average of 10 to 30%, according to Impact Analytics and Cowen & Co,” writes the post office.
The challenges created by the pandemic have given sellers a new opportunity. They are able to maintain higher prices, even during the biggest buying seasons of the year, because demand has not declined. “Brands haven’t had a window like this in a long time, so they’re cutting back on any kind of promotion, discount or reward,” said Milton Pedraza, CEO of the Luxury Institute. the To post.
And the lack of impressive sales (among other factors) could be the reason why there was a drop in online sales during Black Friday this year. In 2020, Americans spent $ 9.2 billion on Black Friday, while in 2021, Americans spent around $ 8.8 billion, according to Adweek. This is the first year that there has not been an increase in spending during the shopping vacation. With the fear of shortages and the lack of big discounts to attract customers, more and more shoppers have started shopping outside of the usual Black Friday / Cyber Monday window.
Maybe the lack of sales will make some of us smarter, more diligent buyers. Or maybe we’ll just spend more money checking out our holiday gift list.