After a month of holiday excess, hitting stores to do even more shopping pretty much falls on the bottom of everyone’s “to-do” lists. But according to the Bureau of Economic Analysis price index, general retail prices were 2.9 percent lower in October 2015 compared to prices a year earlier. They continued to drop into December and are expected to continue to decline into 2016. What does this mean for the consumer? This year is going to be particularly good when it comes to scoring massive discounts on everything from electronics to clothing.
To help navigate through the sea of sales, check out these five rules of thumb to keep you saving:
Missed the Black Friday sale on TVs? January is the best month for electronics purchases: If you are in the market for a smart TV, sound system, DVD player, camera or computer, now is the time to purchase. Why? The Consumer Electronics Show just wrapped in Las Vegas and that is where all of the new models of electronics for the year are debuted. Once that happens, electronics retailers push to get all of their older merchandise out the door and in some cases discounted up to 60 percent. The older the model, the more the retailer will want to get rid of it. And as we get closer to the “Big Game” a.k.a. the Super Bowl, expect even better deals on televisions.
Deeper discounts on winter clothing the first week of February: The weather reports are pointing to cooler more “winter-like” temperatures, specifically on the East Coast. If you haven’t purchased your winter gear, you are in luck. Retailers start to receive the first shipment of spring merchandise the second and third week of February. That means winter merchandise that is still in the stores prior to the delivery date will go on discount of up to 60 to 75 percent off so they can get rid of it. Good news for the consumers, bad news for the retailers who often take the hit for product that can’t be sold!
Clearance racks: not just a dumping ground for unloved gifts: Clearance doesn’t necessarily mean the worst of the worst pile. If retailers still can’t move seasonal or extra merchandise at massively discounted rates, the product goes into the clearance pile. This can include everything from holiday-themed ornaments to last season’s electronics. But one thing to remember if you are purchasing from the pile: “clearance” usually means “final sale.” That means you can’t return the merchandise once it’s purchased and you will not be able to get store credit if you take it home and decide it’s not what you wanted.
The crazy couponing neighbor may have a point: Coupon sites aren’t just for checking out discounts when you’ve depleted your holiday budget and are in a financial jam. Hit up some of your online sites to get added discounts and perks (read: free shipping) while you shop well past the New Year. The same goes for emailed daily deals. If you are looking for something specific, log onto a site like couponcabin.com, coupons.com or yipit.com to get up to 40 percent off your purchases in store depending on the retailer, and extra perks like free shipping or “buy one get one free” deals for purchases made online.
Resolve to save on fitness items and some summer merchandise: Is your resolution to get back to the gym and in shape? Retailers know this and are willing to place large discounts on merchandise like exercise equipment, work out gear and fitness media to help you resolve to hit the gym more. Discounts can be as low as 40 percent for retailers like Sports Authority, REI and Dicks Sporting Goods as well as high-end boutique retailers such as Carbon38.com and Bandier.com that specialize in fashionable workout wear. What’s more, the more you purchase online the more perks you get like free shipping.
Prolonged discounts are a double-edged sword. Retailers scoff at the idea of slashing into their bottom lines any more than they have to, but shoppers love it. With the “new shopping normal” settling into the consumer mind set, you can be sure to see retailers bending to consumer demand in ways that haven’t been seen in the past. Just make sure you stay focused, buy what you need and don’t buy full price!
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How to Navigate Post-Holiday Sales originally appeared on usnews.com
