Well, their systems did exactly as programmed and now they and their vendors are screwed. Buyers and programmers absolutely refused to look at topside caps. How many of anything can you sell before the used market competes with the new market or you've really just sold the item to everyone you possibly could?
The retailers are going to force the vendors to eat some of the markdown costs.
2020 and 2021 were boom years for sales of a lot of home items. 2022 continued the trend up until about May and then it dropped off to 2019 trends. Much like 2008, expect a lot of these items to end up in desperate and glutted yard sales as we continue our decline into Jao Bai-din's recession.
They didn’t anticipate market saturation as quickly as it happened.
Now they have millions of unsold units! And no one to buy them!...................
“These larger companies believed they could build programs to forecast demand and control flow so they laid off entire teams of planners, allocators, forecasters.”
All a bunch of button pushers playing the statistics game. Hey, it’s AI! The top dogs are making excuses for these losses. Do you think they allowed their minions to do the same before they fired them?