Slow Holiday Sales Could Bring Huge Last Minute Discounts

Retailers across the US are seeing significant drops in holiday sales as shoppers who spent early tighten their wallets in fear of a deepening recession despite a recent cooling.

Data from the Commerce Department (opens in new tab) [pdf] seems to confirm our forecast – that too much inventory would lead to “overstock shedding” and smaller profits for retailers – and the gloomy retailer outlooks, including that of online giant Amazon.

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