SALE! SALE! SALE!
On the heels of the disappointing employment report and sharp drop in small business confidence in June, U.S. retail sales unexpectedly fell in June as well. It’s apparent that American households have cut back on some large purchases, such as automobiles and other goods like clothing… These are signs of a softening labor market, which help raise concerns in corporate America that the economy could be slowing again.
This data in weak retail sales suggest the U.S. economy lost a bit of momentum at the end of the second quarter: The Commerce Department said retail sales slipped 0.3% last month (the weakest reading since February), a disappointment after May’s 1.0% increase. These ‘core retail sales‘ as they are called, correspond closely with the consumer spending component of our GDP (gross domestic product).
The Commerce Department’s June report shows clothing stores sales dropped 1.5% (largest decline since September ’14), interestingly enough sales at electronics and appliance stores rose 1.0% (biggest ^ since September).
Strains on household budgets, such as rising housing and healthcare-related costs, could be crowding out purchases of retail goods… So what do American Corporations Do? SALES!!!!!!
Perfectly timed, a month or so before the start of the new school year, large U.S. retailers such as… Target, Walmart, Amazon are taking out all of the stops to draw in customers. By cutting down those price tags, the fight is on for retail domination, so they have begun launching rival Summer SALES today July 15th, with thousands of online and in some cases in- store ‘rollbacks‘ on electronics, home, baby, clothing and toys.
Amazon promised Black Friday like sales, with some premiering every 10 minutes, to honor the companies 20th Anniversary a.k.a. ‘Prime Day’!
Target has been doing a summer Black Friday SALE since 2010… it’s “Black Friday in July” SALE runs through next Monday and is said to include more deals over more days than ever! Best Buy isn’t staying behind on this one either, they have their own 3rd annual B.B. Black Friday SALE planned for July 24-25!
I, like many of you, have quite the lil’ weakness for shopping… so I went on to do a little ‘Black Friday in July’ browsing and was loving Targets BOGO sales on clothing and shoes, 15% off my favorite skin- care products on Mario Badescu and some decent ‘rollbacks‘ on Walmart Laptops, which to boot they are offering FREE Shipping on sales over $35!
Let’s face it…. who doesn’t like getting deep discounts and great deals?! These companies are playing right into our wallets! They know very well, nothing draws folks into stores during this Summer heat more than those fabulous deals, and we all know once we are in there, items stick to your cart, like lint on a lint roller.
Good Luck Deal Hunting!