Department Stores Run 'Black Friday in April' Sales to Avoid Bankruptcy

The coronavirus pandemic has changed the world as we know it. And now, we're starting to see more effects that it's having on the economy and businesses throughout the country.

Small businesses, as well as the large companies and national department stores, have all been seeing huge drops in their sales the past month. But if you're a consumer, this could potentially mean more bargains and incentives to shop online...

According to Business Insider, online sales are down between 15 and 25 percent as multiple big-name stores debate filing for bankruptcy. Neiman Marcus is the latest department store added to that list, expected to file for bankruptcy protection soon. That's why some businesses have decided to participate in what they're calling "Black Friday in April"...

“No one is out there buying huge lots of inventory right now because everyone’s stores are closed,” said Adam Freede, chief executive of MadaLuxe Group, a distributor and retailer of luxury goods. “No one has a sense of the pricing, because you don’t know where the floor will be.”

Retail stores like Macy's, Saks Fifth Avenue, Nordstom and others, will offer online bargains in order to get rid of their spring merchandise that never physically made it to the stores.

“Stores are desperately trying to do whatever they can do to salvage sales at this time,” retail analyst Suchartia Kodali said.

Not only that, but most stores are also offering free shipping and easier returns for online shoppers during the pandemic.

“For people looking at department stores right now, I would really recommend spring apparel and athletic apparel and footwear," shopping expert Trae Bodge said. "That’s where the better deals are going to be right now.”

Read more about "Black Friday in April" on Inside Edition.

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