LAFAYETTE, L.a. — Labor Day 2022 — you may have plans to hit the pool or barbecue, but you might also have plans to hit the sales rack.
According to AARP, shoppers may not see discounts this big again until Black Friday. Recent studies show that's because more than usual, retailers over-ordered their inventory prior to inflation's slowing of consumer spending and as a result, they need to cut those prices down further to clear out summer stock and make room for new fall items.
With that said, consumer reports show the average shopper will spend at least 150 dollars — some spending as high as 500. However, with the consumer price index showing annual inflation clocking in at about 9 percent, what's it really worth spending your money on Monday?
Here's the breakdown:
Monday is a good day to check out your bigger ticket items; like mattresses, appliances, luggage, end-of-summer items like swimsuits and other clothes, as well as office or school supplies.
As for what not to buy, shopping experts say to stray away from fall and winter clothing, as well as toys and electronics. This is because these items have historically had bigger price drops closer to Black Friday. Camping gear, while in-season, is also something you may want to avoid putting in your cart this Labor Day, as prices are expected to drop by as much as 60 percent by October.
Financial experts suggest that consumers looking to get the most bang for their buck should take advantage of trial periods before buying, while also avoiding shopping ahead for future seasons.
------------------------------------------------------------
Stay in touch with us anytime, anywhere.
To reach the newsroom or report a typo/correction, click HERE.
Sign up for newsletters emailed to your inbox. Select from these options: Breaking News, Evening News Headlines, Latest COVID-19 Headlines, Morning News Headlines, Special Offers
