Monday, January 30, 2023

Seasonal discounts are already irresistible, but the best deals are yet to come

(CNN) — This Christmas season, stores abound with merchandise and maintain attractive pre-Christmas discounts.

But the deals will get juicy.

So if you have the patience and willpower to wait and do some bargaining, you will be richly rewarded.

“The best deals are always in the last week before Christmas,” said Marshall Cohen, senior retail industry advisor at market research firm NPD. But for the best deals, it’s even better to wait until “right after Christmas.”

The Saturday before Christmas, also known as Super Saturday, is usually the busiest shopping day of the gift buying period between November and December. Since Christmas Day falls on a Sunday and Christmas Eve falls on a Saturday, Super Saturday this year falls on December 17th. According to the National Retail Federation, it is estimated that more than 158 million consumers shop on this day.

According to NRF estimates, buyers have completed half of their purchases. With Christmas eight days away and the shipping deadline looming, people have a lot more to do.

It remains to be seen whether Consumers will show momentum during the final stretch. The government reported on Thursday that retail sales slowed in November at the start of the Christmas shopping season.

“This year is very unique. Consumers are very cautious. They deal with inflation and tighter budgets that affect their spending power,” said Adam Davis, CEO of Wells Fargo.

As consumers carefully plan their holiday spending, Davis said travel and entertainment budgets are also being cut from their budgets.

“All these dynamics will benefit consumers as retailers have more stock,” he added. “This weekend there will be a big push from retailers who have excess inventory to sell at any cost, as they look to start 2023 with less inventory and free up excess, especially if economic headwinds Gets bad.”

Maintaining an excess supply of goods for too long is also costly for retailers. Retailers who stock merchandise in their own warehouses and distribution centers have limited space to work with, with few discounts to accommodate excess inventory. But if they require more space for extended periods the cost will add up.

Furthermore, unsold products lose value over time. This is especially true with trendy clothing, as savvy shoppers won’t buy last year’s clothes if they’re out of fashion. The stores are then forced to offer heavy discounts, which affects profitability.

Long before the last full weekend before Christmas, stores were already offering 50% to 60% off this year and adding free shipping to online orders.

“I’ve studied the holiday season for 20 years and I’ve never seen discounts this deep,” said Ross Steinman, professor of consumer behavior at Widener University in Chester, Pennsylvania.

“Retailers are very nervous,” he said. “Time is running out and they know they now have to maximize every opportunity they have to get consumers to make a purchase.”

after christmas sale

Some seasonal products will have good sales (80% or 90% off) right after Christmas.

Davis said you can expect to buy Christmas perfumes and cosmetics, toys, Christmas ornaments and decorations, candles and artificial Christmas trees at greatly reduced clearance prices. The most intense promotion should extend even to some electronic products.

Walmart, Target, Gap, Macy’s and Kohl’s all struggled with an oversupply of clothing throughout the year. This means that the prices of winter clothing such as coats, sweaters, shoes, scarves and hats will drop even further as chain stores look to transition into the new spring and summer in the new year.

“Retailers want to start selling for the next big holiday, which is Valentine’s Day,” says Davis. “In the typical retail cycle, stores prepare for spring merchandise in February, so they have to quickly move to holiday merchandise and winter apparel.”

But before rushing to look for New Year’s deals, Davis has some advice: “Check the return policy. We’ve seen retailers shorten the 30- to 60-day period to as little as 15 days or make it the last sale.” designated as.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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