Attention Target bargain shoppers!
Keep an eye out for huge price drops (like this 50% off sale on carry-on luggage), as Target is reportedly planning to slash prices in order to clear out their over-stocked shelves.
After rapid spending shifts from American consumers (hello inflation), Target has realized that it is over-inventoried.
Target is therefore planning to cancel orders from suppliers (primarily for home goods and clothing), and slashing prices on its current inventory in order to make room for the busy fall/holiday shopping season.
Target’s profit report for the first quarter showed a 52% drop over the same period in 2021, due at least in part to a huge slow-down in sales of electronics, home goods and clothing.
The good news for us consumers is that we can expect to see large savings (think Black Friday level) on these over-inventoried products.
Conversely, Target is reportedly seeing an increased demand for groceries and personal care products, so I don’t think we can expect to get as many great sales on those items, unfortunately.
I will be doing my best to scan their unannounced sales in the coming weeks so I can share them with you — but please feel free to let me know if you come across a big price drop during your Target runs!
With all due respect, my Target is either a mess or empty. I don’t see overstock at all. I hope they don’t go under!
Yes, I agree with the comment above. My last visit to Target was months ago, and I had been a frequent shopper in the past. It was filthy, and the staff was rude. (Admittedly, they are probably understaffed, but I can easily shop elsewhere.) It’s a shame; it used to be one of my favorite stores.
My Target is clean. I can find most tthings.