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A former top Walmart executive has revealed which household items are really worth buying ahead of the upcoming shopping season.
Nikhil Raj, who helped found and grow Walmart’s marketing and advertising business from 2011 to 2016, said consumers have the potential to access “incredible deals” on electronics and toys during the festive sales blitz.
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There really are some incredible deals around the holiday season
Nikhil Rag
“It’s normally on toys and electronics, and usually there are some great deals on those categories.
“You see 40 to 50 inch TVs for $200 or less, some of those deals are incredible.”
But Raj, who now leads the retail media business for Moloco, told customers to hold off from buying any items now, as brands are likely to drastically reduce the price for Black Friday and Cyber Monday.
“At Walmart, the month of November is when the traffic starts to pick up but the conversions don’t start until November,” Raj told The U.S. Sun.
“It is worth the wait, buying it right now is probably not worth it,”
WORTH THE WAIT?
Raj said major retailers including Amazon, Walmart, Target and Dollar Tree would have begun ramping up inventory to prepare for the holiday shopping season beginning in May this year.
According to research from Bankrate, almost half of Americans plan to begin buying their holiday shopping by Halloween.
Amazon Prime’s Big Deal Day this week has kicked off the holiday shopping season offering discounts on technology goods and other household items.
But experts say consumers should hold off and wait until the sales really start during Black Friday and Cyber Monday.
Raj noted the biggest issue facing customers this year was inflationary pressures, as prices remain high despite falling interest rates.
Following a string of store closures in recent years due to bankruptcy, Raj said the “billion dollar question” in retail at the moment was whether in store shopping would remain given the rise in e-commerce.
SHOCK CLOSURES
The American high street has battled a number of challenges including growth in online shopping, shifting consumer spending, competition and scarcity of labor and re-zoning in communities.
Raj said major department stores such as Macy’s and Kohl’s are facing tough economic times while discount chain stores such as Walmart and Dollar Tree are booming.
Earlier this year, Macy’s announced it would close 150 locations by 2026 including about 55 stores in 2024.
Kohl’s says it has no closure plans yet net sales fell 3.3% according to its quarterly update in May.
Raj said in store shopping would likely continue if there was ongoing demand.
“I am standing in New York at the moment and I can see all these stores which are all pretty busy,” Raj said.
“I think while it is a tough environment, if it is convenient to walk down and grab something then I think consumers will do it.
“When you have customers and convenience then you are going to have stores.”
Raj said many online stores have also struggled to be profitable given high costs of shipping items across the country.
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