Back to School retailers are slashing prices across the United States

Back to School retailers are slashing prices across the United States

As everything is getting more expensive and everywhere in the world, parents can breathe a little freely, at least in the United States of America, the prices of products that in recent years are known differently and as "Back to School" the new clothing season in September , have suffered significant reductions.

For the first time in many years, retailers are offering drastic discounts on these products, which include clothing, electronic shoes and many other non-food items. According to experts in the country, this is due to the panic created by the increase in other prices, such as energy and fuel, but also consumer goods.

For this reason, although every beginning of the season, not only children's clothes, but also the cans of a number of other products that are traditionally bought to prepare for the new school year in every family, experience an increase, this time the opposite has happened. Traders want to clear the stock built up since last year and this is the best time to buy, as it is not known how long this discount period can last.

Many US retailers, led by Walmart Inc. and Target Corp., stocked up last fall and winter only to face a drop in demand this year as consumers divert more of their spending toward increasingly expensive fuel and food. Meanwhile, those who are buying non-essential items have moved away from pandemic-era shopping.

This has left many retailers with stockpiles of unsold goods. So they're slashing prices to clear shelves and warehouses.

Back to School retailers are slashing prices across the United States

The percentage of U.S. clothing, shoes and accessories sold at a discount rose this year compared to 2021. U.S. online prices fell for the first time in more than two years in July, according to Adobe Analytics, with the biggest reductions in electronics, computers and toys, while food and pet supply costs remain high.

In the four weeks to the end of July, back-to-school sales volumes were 1% lower than in 2021 and 13% behind 2019, according to NPD.

Back to school is usually a good indicator of consumer demand for the winter holidays. That will be truer than ever this year.

*Taken from Bloomberg (Translated and adapted to Albanian by Tiranapost)