In mid-February, we had forecast this would happen in the Trends Journal, and now it is reality:
Retailers needing to generate cash and dump old merchandise are offering rock-bottom prices as they reopen stores.
Discounts will be especially deep on items such as fashion and furniture. Across the spectrum, from clothing to footwear to date-expired food products… retailers are racing to shed hundreds of billions of dollars’ worth of old goods.
TREND FORECAST: “Every Day is Black Friday.” While sale prices will last through the summer to ensure that retailers have both cash and room to stock fall lines and freshen up with new packaged food products, we forecast the bargain basement sales pitch will continue through the Christmas season.
Also, prices will be forced lower as surviving stores compete with going-out-of-business blowouts by stores closing for good that will take all they can at any price.
Stores will find it challenging to attract enough customers to unload large amounts of stock while observing social distances, limiting hours, and the number of shoppers who can enter a store at one time.
