Businesses expect people to splurge with increased income about to hit their account
COLUMBUS, Miss. (WCBI)- It’s the most wonderful time of the year for some retail businesses. Tax refunds are in the mail and another round of stimulus checks could be on the way. With the extra cash, many people are ready to make some big purchases. Cars and furniture are two big-ticket items that seem to be in high demand, and more people may soon be able to splurge.
Jonathon Breckenridge and the staff at Carl Hogan Toyota in Columbus are getting ready for a potential boost in business. With another round of stimulus checks closer to reality and tax refunds on the way, he knows people in the market for a new ride will soon start shopping.
“Months before we know this is going to happen we start building our inventory and getting the right kind of stuff in here for the situation,” said Breckinridge.
Breckenridge has been in the car sales business for several years and knows preparation is the key to sealing the deals.
“This is nothing new to us. Due to our advertisements we always get a big influx of people, you know, and being in the business for 21 years like I have been we do understand when tax time rolls around you have to have the right kind of inventory and the right kind of point price,” said Breckenridge.
Furniture stores are also expecting brisk business in the coming weeks months.
“As soon as this stimulus check hits it should be a great month for us and usually this time of the year has been good over the last probably 15 years so we hope to have another great one this year,” said the owner of Goose Hollow Furniture, in Columbus, Charles Strickland.
Strickland said while customers browse all of their inventory, there are some popular items in the showroom.
“Bedroom mattresses are the top of the list right now. We always sell a lot of mattresses a mattress is always really good, bedrooms are always good this time of year for some reason,” said Strickland.
The uptick in business does have one drawback. It often slows the shipping and delivery process.
“Companies are taking anywhere between three to four months now where we use to could get things in two to three weeks. it’s changed the way people are going to have to buy and they’re just going to have to be patient with us,” said Strickland.
Though income tax and stimulus money would serve as a great down payment. Experts encourage people to still plan for long-term payment plans for the future.