“The promotional price might be attractive compared to what something cost earlier this year, but it’s not clear that it will cost less than it did a year ago.”
Black Friday discounts are poised to return this fall for large appliances after two years of pandemic-induced disruptions — but even with the splashy markdowns, some shoppers may still have sticker shock.
“The promotional price might be attractive compared to what something cost earlier this year, but it’s not clear that it will cost less than it did a year ago,” said John Carey, owner of Designer Appliances, which operates two upscale showrooms in New Jersey. “It might wipe out the inflation increase.”
Manufacturers and retailers are discounting big-ticket items earlier than usual as the housing market cools amid surging mortgage rates. Sales of major appliances are flat to negative year to date and consumer demand is down about 5% compared to a year ago, according to the industry consulting firm. Still, appliance manufacturers haven’t yet committed to many of the rebates that drive Black Friday sales.
To be sure, shoppers searching for new appliances will find more deals and variety now than at any time since the pandemic began. Port delays and shipping costs have come down dramatically this year, which has helped to refill warehouses. Lowe’s, Home Depot and Best Buy, which account for the bulk of US appliance sales, have been canceling orders to prevent a pileup of goods, industry experts tell The Post.
But stepping back, Abt adds that it hasn’t been a typical time for appliance sellers. Wholesale markups are still higher than they were a year ago, and some manufacturers mainly are offering rebates on products that are not moving fast enough, like an LG, Wi-Fi-enabled refrigerator that’s been reduced by $700 to $3,099.
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