The pandemic has wreaked havoc on a number of areas of our lives, and even our shopping habits have been impacted. No doubt you’ve heard of the dreaded “supply chain issues,” as you’ve tried to pick up something as basic as a pair black leggings for your kiddo, only to find the displays empty.
While many big box stores have struggled to get seasonally-relevant inventory in stock, it turns out the place to be is actually discount stores. Supply chain issues do not impact these types of shopping models as negatively and here’s why: big-brand stores are continuing to sell off extra inventory to these stores that is out of season while still battling shipping delays that are keeping their own shelves empty.
photo: Pixabay
The Wall Street Journal is reporting that late-arriving clothing and other merchandise is flying off discount store shelves, while stores like Gap and Express try to figure out what to do with the merchandise that is still sitting stranded on cargo ships.
Discount stores are making the best of this situation and it shows. Ross Chief Executive Barbara Rentler explained during the company’s March 1 earnings call that it has been “able to capitalize on the volatility in the supply chain. We see more potential opportunities in front of us from closeouts.”
It’s not just the sitting cargo ships that are presenting a problem for retailers. Gap Inc. has reported that factory shutdowns in Vietnam created an eight to 10-week delay, while Express has decided to hold $12 million worth of inventory from the fall to sell at outlets because it didn’t arrive in time last year, per the WSJ.
photo: Shopify Partners via Burst
Rather than wait for your fave department store to stock up, discount stores have a solution. CEO of Burlington Michael O’Sullivan says that there are “some really terrific buying opportunities” that include great seasonal fall product coming later this year.
There is good news on the horizon: retailer stockpiles are growing which hopefully means no more empty displays and access to basics. In the meantime, hitting up your local T.J. Maxx might be the best way to snag some screaming deals, because who cares if that blouse you love is “last season?”
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