Score Big Savings: How Companies Are Slashing Prices and Offering Deals Everywhere
From Flights to Food: Why Now Is the Best Time to Splurge Without Breaking the Bank
Companies are feeling the heat and pulling out all the deals to keep customers happy. Promotions are everywhere, and for the first time in a long time, volumes in sales are climbing again. Federal researchers are crediting this unexpected boost to a surge in consumer spending on everything from cars and furniture to vacations. This is a great opportunity to buy.
According to American Express, younger consumers are a big part of the current spending spree. Millennials and Gen Z cardholders boosted their spending by 13% in the second quarter of the year. In some areas, like dining out, they're almost doubling their transactions.
Record-Breaking Prime Day
Amazon's Prime Day was a hit this year. During their tenth anniversary of the two-day sales event, shoppers spent a record $14.2 billion across US online retailers, marking an 11% increase from last year.
Retailers Slashing Prices
Retailers are getting creative with discounts to attract shoppers. In May, Target cut prices on 5,000 popular items like meat, bread, and paper products. Walgreens followed suit with similar discounts. Walmart introduced a new low-cost private-label food brand, offering essentials for prices between $2-$15.
Travel Deals Take Off
The discounts haven’t been limited to just groceries. JetBlue and Southwest Airlines are offering limited-time deals with some domestic flights starting at just $49. After a race to expand capacity to meet demand, airlines now find themselves with more seats than passengers, leading to cheaper flights for travelers.
Fast Food Chains Join In On Deals Too
McDonald's has extended its $5 value meal beyond their initial four-week plan. Meanwhile, Burger King offers a $5 "Your Way Meal," and Starbucks has a pairing menu starting at $5. It's a good time to dine out without breaking the bank.
So, whether you're looking to snag a flight deal, grab some discounted groceries, or treat yourself to a meal out, the deals are hot right now.