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Stores have too much stuff, so they're running sales

Spending habits switched from goods to services as stores reopened during the pandemic.

INDIANAPOLIS — The pandemic mixed up how we spend our money.

During lockdown, extra income went toward stuff to spruce up our living space.

But now that stores are back open, Ted Rossman with Bankrate said people are starting to see a spending shift from goods to services.

"They're ready to travel again, and they're going out to eat," Rossman said.

That shift, along with supply chain issues, is messing with retailers' inventories.

"Big companies like Walmart, Target, Best Buy, they mentioned during their recent earnings calls that there's this kind of mismatch going on. Sometimes they got merchandise later than they wanted it."

Now, stores need to unload some of that stuff.

"I've been hearing some of the best discounts right now are on clothes, furniture, TVs, computers. It's actually a great time, maybe, to think ahead to next back-to-school season, especially if you have a high school or college kid," Rossman said.

If you want to find out if something is a good price, use the browser extension Honey.

Right now, a 55-inch Samsung QLED TV is on sale at Walmart for $498 instead of $749.99. Based on Honey's data, it's a great price, beating out store competitors and showing that it's at its lowest price point in 120 days.

At Target, a Barndoor Farmhouse style TV stand is on sale for $224.99. According to Honey it is a good price, but was $20 less in April.

If you're unsure about a deal, more sales are on the horizon. Amazon's Prime Day and Target Deal Days are expected to hit in about a month.

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