Amid looming recession, Walmart announces new 'refurbished' offerings at cheaper prices

Walmart this week announced the rollout of a new "refurbished" line of consumer products, an offering that will save consumers money by selling them like-new used products. 

The company said in a press release that its "Walmart Restored" program will offer used products that "have been professionally inspected, tested and cleaned" prior to being re-sold to consumers. 

"The Walmart Restored program is helping build trust with our customers by offering fantastic value for shoppers," the company claimed in the release. The program has already rolled out online and will be "in select stores later this fall." 

The cheaper product offering comes as consumers are scrambling to save pennies at every opportunity as fears of an economic recession continue to loom. 

By many professional definitions, the U.S. economy is already in a recession, having recorded negative growth for two consecutive quarters in a row, though the White House has been attempting to position that grim news in terms more favorable to the Biden administration.

Inflation, rising food prices, and skyrocketing fuel costs have also taken major bites out of consumers' wallets throughout 2021 and 2022.