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The latest government reports show the desire of US consumers to spend on soft goods such as garments, footwear, and accessories fell 15.7% in December from the previous year, the largest drop since the pandemic began, with a score lower than any other December “since at least 2013,” according to the research. The downturn is visible at all income levels, with even higher-income spending intentions declining 13.3%.
You’ve walked into quite a few stores in the past couple of weeks for the holiday season buying gifts. The sales that you expected were not as high as they were in previous years. Now that we’re in the New Year season we are seeing sales coming in at 50% off lots of merchandise. Many of these sales are taking place online and not so much in the stores, at least not yet. The other day when our fashion editor walked into DSW, we didn’t see anything really on sale. None of the plaque tags had any extra discounts displayed other than the off-retail price the store always has. However, when we checked the website there were a lot of sales sneakers as much as 40 % off as well as shoes and boots.
Heads up, if you like Adidas, they have some great online markdowns up to 60%. Nike shows only 20% markdowns.
We checked in at Macy’s and we did see quite a bit of discounts -but the merchandise was not refreshed, and it looked like a storm went through the store. Some of the clothing did not look like styles coming out for the new season. To be honest, it looked like it had been sitting in the store for months. Our fashion editors believe that with inventories still backed up, we’re going to see more sales but over a slower period. However, there are super deep discounts in a section of Macy’s that is usually located far back in the women’s clothing section. We saw some INC. (Macy’s Brand) at 70 % off. Even deeper discounts can be had at the off-price stores like HomeGoods and Nordstrom’s Rack.
Consumers are getting clever about stretching their spending out of need. As inflation wreaked havoc on back-to-school budgets, and even as families grappled with the weight of holiday expectations, many are turning to secondhand stores to save money. We’re not just talking about the high-end used resale market for designer goods, we’re talking about good old-fashioned resale stores where you can still pick up great deals for clothes that you would wear every day. Like the old saying goes, one man’s trash is another man’s treasure. Your local neighborhood resale store not only sells clothes, but they also sell resale items like electronics and household items. If you like the thrill of hunting for bargains these stores are for you.
CNBC reports, “Brands and retailers are starting to invest in resale opportunities for their consumers, putting more time and resources into what is now being called “recommerce”. According to thredUp’s 2022 Resale Report, nearly three in four retail executives say they have or are open to offering secondhand goods to their customers. Of all brands surveyed, brands offering secondhand resale have increased by 275% since 2020.”
Due to a slowing economy people are more apt to keep their older devices in electronics. The right to repair movement from consumers is a growing trend. Companies like apple have now allowed customers to have the right to repair their own products. You may now repair your iPhone from the convenience of your own home if you feel you are tech savvy enough to do it. Apple introduced a new area of its website where you can buy tools and replacement parts, such as new display screens, batteries, and speakers. The online store is simple to use, and Apple is even giving client repair kits weighing 79 pounds that can be rented for $49 per week. Overall, you save a lot of money Letting your fixed electronics run a little further without having to buy something brand new or spending a lot of money to have someone else fix it at the Apple store or an fixit shop.
January is the best time to buy fitness equipment, bedding accessories, mattresses, televisions, and electronics.
Target Clearance Run, a sales campaign with savings on popular products up to 50% from apparel to electronics.
Rush into Sephora for 50 % off skincare till January 17th, 2023. Lancôme. Clarins, Clinique, and Estee Lauder to name a few of the brands offered. Each day has a different brand on sale so check the website to plan ahead as supplies sell out fast.
Lingerie is on sales at fine luxury retailer Cosa Bella at 60 % off and Italian lingerie designer Intimissimi has items 40 to 60% off.
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