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 Department of Commerce (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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