If there were a modern-day bloodsport, summer shopping could be it.
Last year, Americans spent $83 billion on purchases and travel during the summer months, according to the National Retail Federation. That’s up from $78 billion in the previous year. Lower gas prices and higher consumer sentiment has fueled the spend fest, but there is something more: the so-called “reputation economy.”
“Ninety-two percent of consumers look at review and ratings online before making a purchase decision,” says Naveen Gupta, CEO of BirdEye, a reputation-management and customer-experience company. “Retailers realize how fierce the competition is to acquire customers. One way to make them stick and gain customer love is by having competitive prices. The idea is simple: If retailers want to win, they must have [the] best prices, customer experience and reputation.”
[See: 10 Oddly Practical Things You Can Rent.]
With so many retailers vying for those customer dollars, it’s hard to figure out what you should buy now versus later in the summer. Here’s a breakdown of five things you should leap on and wait for.
Buy Now: School Supplies
Research from RetailMeNot.com finds that over 65 percent of parents will be looking for deals when back-to-school shopping this year. While it might seem counterintuitive to purchase school supplies right after your children left school, stores like Wal-Mart and Amazon are willing to bet you’ll interrupt your summer fun to score great deals on basic supplies.
Amazon launched Prime Day July 12 th with discounts of up to 70 percent off on merchandise, including supplies like Elmer’s Glue.
Wal-Mart is also trying to ramp up efforts to score customers by launching its own free, 30-day trial of its unlimited two-day ShippingPass ($49 annually) along with price cuts on thousands of products including back-to-school items. For example, 24 count Crayola crayons are being sold for 50 cents and a 1-inch durable view binder runs $1.92. Need an abundance of glue sticks? Wal-Mart has your back: You can get Cra-Z-art two-pack glue sticks for 10 cents.
[See: Your Month-to-Month Guide to Savings.]
Buy Later: Electronics and Computers
Skip this category when shopping for back-to-school supplies in July. Why? Stores like Best Buy, Staples and Office Depot have massive promotions during August in order to get people in the door. Discounts can be between 20 to 30 percent off for smartphones. In some cases merchandise like tablets and laptops will be marked down anywhere from $100 to $400.
Buy Later: Luggage
Summer is peak travel season. The luggage industry knows it and marks up luggage for last-minute travelers by as much as 30 percent! If you can, deal with your old bags until March. If you’re desperate, try purchasing older luggage models that will be discounted at stores like JCPenney, which has luggage sets for between 40 to 50 percent off.
Buy Now: Exercise Equipment
Summer months, specifically July, are when fitness retailers try to clear inventory. With warm temperatures comes a general shift to outdoor exercising, sending sales of indoor exercise equipment down, leading to deeper discounts of up to 30 percent off.
Buy Later: Garden Tools
Would it surprise you that Father’s Day is the perfect time to purchase tools for the garden? Stores like Home Depot and Lowe’s put merchandise on massive discount so they can get the Father’s Day spend. But if you weren’t able to get in on these sales, you should wait until Labor Day, when you can take advantage of discounts on rakes, shovels and gloves of up to 30 percent off at Home Depot and Lowe’s.
[See: 10 Ways to Save While Gardening.]
Temperatures are sizzling across the country, but if spending another day baking at the pool seems repetitive, boring and hot, now may be the time to stock up on those basic school supplies and exercise equipment. AC (either at the mall or from the comfort of your own home) and incredible discounts will be the reset you need embrace the last remaining month of summer. What’s more, you’ll have a head start on crucial fall and winter shopping!
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What You Should Buy in July: a Shopper’s Guide originally appeared on usnews.com
