Walmart and Target's Latest Inventory Issue Will Benefit Shoppers

Factory closures were caused by pandemic supply chain concerns, resulting in shortages at all of the well-known supermarkets and other retailers.

With things up and running for the second summer after the initial commencement of COVID-19, some merchants are seeing the polar opposite of a low supply, which is really good for customers.

Two of the major retailers are attempting to get rid of surplus inventory by slashing prices and holding specials.

Target said on June 7 that it will be downsizing inventory, which will entail more markdowns, some of which will be on already substantially discounted clearance rack items.

Target announced a huge sales drop in its May earnings report, prompting it to reevaluate its inventories right away.

Customers are currently shopping for food, beauty, housekeeping, and back-to-school items, so the company will now focus on those categories. (Anyone who shops for groceries at Target will appreciate this.)

Walmart is dealing with an oversupply of inventory. On May 17, during the company's earnings call, executives discussed what to do with the inventory.

During the same earnings call, Walmart U.S. President and CEO John Furner stated that over 10,000 rollbacks are currently in effect, with an increasing volume of discounts expected to continue over the summer due to inflationary pressures.

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