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Retail markdowns could be coming as companies tackle excess inventory
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A buildup of inventory across major retailers is cultivating a climate of markdowns, according to a new report.
It started happening at a time when "consumers began curtailing spending and shifting away from discretionary categories," according to a research note from the Telsey Advisory Group.
American consumers have been struggling to keep up with the surging prices of everyday goods such as food, household items and even gas. Even if it moderates, inflation will likely remain high well into 2023, economists say, leaving many Americans burdened by price increases that have outpaced pay raises.
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The good news is that companies are starting to throw out promotions in order to combat the excess inventory that they have accumulated, according to the Telsey Advisory Group.