Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • News
  • Events
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • News
  • Events
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Retailers have an inventory problem as lockdown lifestyle fades

Retailers have an inventory problem as lockdown lifestyle fades

  • Categories Retail News, Top News
  • Date June 7, 2022
  • Comments 0 comment

The big-box retailer Target said Tuesday that it’s having inventory troubles. Target has a lot of stuff, including furniture and appliances, that nobody seems to want to buy. And it’s not the only company sitting on too much of the wrong goods.

The last couple of years have been tricky for folks who manage retail inventory. “My goodness. I think I would rank that up there with having the job of a central banker these days, what your strategy would be,” said Jennifer Lee, senior economist with BMO Capital Markets.

Spending trends have taken some sharp turns, she said. Early in the pandemic, retailers braced for a recession that turned out to last only a few months. Coming out of it, relief checks meant lots of us had extra cash.

“Consumers figured out how to do online shopping, and that caught businesses off guard, so they started ramping up their inventories to meet this new demand,” Lee said.

Demand for things like casual clothes and stuff to make our homes more comfortable. But now, “higher prices are probably scaring consumers off a little bit,” Lee added.

The rising cost of gasoline and food makes us less likely to splurge on a patio set, for instance.

But inflation aside, people are starting to spend their money differently from the way they did during the height of the pandemic, according to Jennifer Ryan, a professor of supply chain management at the University of Nebraska, Lincoln.

“They’re not staying home, so they’re not investing in home goods. They’re not investing in sweatpants,” she said. “They’re going to weddings, they’re going to restaurants, they’re going back to the office.”

All this leaves retailers with a lot of stuff that’s hard to move — and it’s happening to companies that are typically really good at predicting what will sell, Ryan said.

“With all of the changes and the unprecedented world that we’re in, they can’t leverage their historic information. They can’t leverage their experience.”

How do they get rid of that stuff and make room for things people want to buy these days? “We’re going to see Black Friday bonus values in the middle of June,” said Stephanie Wissink, a senior research analyst at Jefferies.

So if you’re in the market for that patio set or “an air fryer, a blender, home decor, electronics,” Wissink said, now’s the time to look for deals.

Source: Marketplace

  • Share:
gsiino

Previous post

Lancôme nets USD 1.5 million in 10 days on TikTok
June 7, 2022

Next post

Adidas and Gucci open two pop-up stores in Los Angeles
June 10, 2022

You may also like

sweetgreen
Sweetgreen Adds A ‘Rewards And Challenges’ Program To Drive Frequency And Digital Sales
27 June, 2022
primark-ecommerce
Primark to trial UK click and collect in move into online sales
20 June, 2022
Happy-Nation
Victoria’s Secret brand Happy Nation launches first metaverse experience
17 June, 2022

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Sweetgreen Adds A ‘Rewards And Challenges’ Program To Drive Frequency And Digital Sales
27Jun2022
Primark to trial UK click and collect in move into online sales
20Jun2022
Victoria’s Secret brand Happy Nation launches first metaverse experience
17Jun2022
What are the main trends driving consumer behaviour in Australia?
17Jun2022
Let’s get physical: Why Hyperphysical stores are this year’s biggest retail trend in Asia
17Jun2022

Twitter:

GRA_WorldFollow

An association made up and dedicated to the retail industry world's leading companies. Become a member today!

GRA_World
Retweet on TwitterGRA_World Retweeted
meshaalbomairhMeshaal Bin Omairh@meshaalbomairh·
19 May

Very happy to announce that I am now a member of the GRA, one of the world’s most important associations for #retail industry leaders.
يسعدني جدًا أن أعلن أنني أصبحت عضوًا في GRA ، وهي واحدة من أهم الجمعيات في العالم لقادة صناعة البيع بالتجزئة: https://twitter.com/Gra_World/status/1526975525411033089

Twitter 1527215613428498433
Gra_WorldGRA_World@Gra_World·
20 May

🚀Los invitamos al próximo #webinar #GRA donde un panel de líderes de #Latinoamerica van a compartir tendencias, experiencia y el futuro de #Marketplaces✍🏻: https://bit.ly/3yNggfI

Twitter 1527633483006459909
Load More...

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy