Retailers like Walmart, Target, Amazon and Best Buy are struggling with high inventory levels amid inflation and a slowing economy. That's good news for holiday shoppers.
Big-box retailers are struggling with excess inventory. That's good news for holiday shoppers.
Data from the research group Factset show inventory levels among retailers including Walmart, Target, Amazon and Best Buy remain significantly above pre-pandemic levels. It's a consequence of the end to the stay-at-home buying frenzy that snarled supply chains worldwide. "While we anticipated a highly promotional environment this fall, given the excess inventory we’ve been seeing across retail, this enhanced focus on promotions reflects an increasing level of stress on consumers as they navigate through multiple headwinds, including persistent inflation and rapidly rising interest rates," Target's chief financial officer Michael Fiddelke said during the Minneapolis-based company's fiscal third quarter earnings call last week.
The National Retail Federation said earlier this month that it expects annual holiday sales growth to hit between 6% and 8%. That would represent a decline from the unprecedented 13.5% growth seen in 2021 and the 9.3% growth seen in 2020, but still well above historic averages.
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