The coronavirus pandemic has hit the apparel industry really hard. In addition to numerous store closures, retailers like JC Penney have furloughed most of their hourly associates to respond to a massive sales slowdown.
Money expert Clark Howard says the reason is that consumers are faced with less disposable income due to the COVID-19 crisis and are tightening their belts financially.
“If you think about something that’s almost a completely optional purchase, it’s clothing,” he says.
People who are feeling financially secure during these tough economic times might be wondering if there will be an opportunity to find a few deals on apparel. Here’s why Clark says steep discounts could be coming to a rack near you.
Huge Clothing Sales Are Coming Soon
Because of slow sales, clothing stores are going to try to get rid of quite a bit of inventory to play catch-up. That means big discounts for consumers.
“Retailers and manufacturers of clothing are in a world of hurt with massive oversupplies that they don’t even know what to do with because they’ve lost a whole season,” Clark says.
When Will We See the Most Deals?
Clark says the weather won’t be the only thing warming up come summertime. That’s when hot deals on clothing will likely be plentiful.
“You’re going to see the real bargains over the next few months,” Clark says.
Where Will the Biggest Sales Be?
“There are these absolute distress sales that are happening, especially on women’s clothing, with people getting emails on one-day or one-hour flash sales with true discounts ranging around 70%,” Clark says.
ClarkDeals.com managing editor Charis Brown says she’s seeing deals right now that feature up to 50% off on select styles of Nikes and 60% off various items at Finish Line.
While the larger sales are likely to come a bit later, many stores have great deals currently, Charis says.
“There is a lot of sporadic discounting going on at various retailers,” she says. For example, Eddie Bauer is offering 50% off sale items right now.
Final Thought
Before you start shopping, take a close look at your budget. If you have the extra cash to spend on clothing, these tips can help you find the best deals:
- Sign up for email alerts from your favorite retailers. Don’t miss the stores rewarding their customers with a heads-up via email about upcoming sales.
- Look for extra discounts on things already on sale. “People will find the best deals at stores that are offering discounts on sale items,” Charis says.
- Comparison shop. Use a free tool like Google Shopping or Camelcamelcamel to make sure you’re really getting the best deal.
Ready to start shopping? You can find the latest clothing deals on ClarkDeals.com.
