Holiday spending will be up this year and already 51% of U.S. consumers have planned their expenditures and even set aside the cash they will need according to Accenture’s annual consumer shopping survey. Consumers are expected to spend an average of $582 on holiday shopping with 23% reporting they will spend more than $750. If you are looking to stretch your holiday dollars, we have prepared the following tips for you.
Don’t trust Black Friday deals. Regardless of the hype, the best prices are not on Black Friday reports Brad Tuttle of Time Magazine. Consumers are shopping earlier which is causing stores to discount earlier. “Pricing studies that circulated last year also highlighted the fact that Black Friday didn’t offer the best value for shoppers, especially when it comes to popular holiday purchases like electronics and toys,” writes Tuttle. Furthermore, forget finding designer and luxury brands on sale on Black Friday. “Although there are certainly exceptions to the rule, Black Friday is mainly a blockbuster event for lower-end goods,” said DealNews in Chris Morran’s article “4 Black Friday Myths Debunked”.
Wait if you can. If you are looking for one of the hot toys of the season, Business Insider cautions consumers, “to get the best price, wait until the last possible moment to make your purchase.” According to the Business Insider, “Last year nearly all of the toys we saw deals on hit their price lows during the two weeks leading up to Christmas.”
Research tablet and camera deals. This year shopping experts expect to see heavy discounting on tablets with heavy hitters Apple, Amazon and Google now all offering competing tablets. Michael Effle, Dealio CEO, predicts significant discounts on 7 to 10 inch tablets but don’t expect to see Apple discounting its newly announced iPad mini. However, look to see if Apple joins the Black Friday fracas as it has done over the last six years and perhaps discounts an earlier iPad model. If you are in the market for a new camera, this also might be a great time to buy as Effle expects cameras to go on sale this holiday season.
Check the fine print. Make sure you understand the return policy before making any purchases this holiday season. In Morran’s Black Friday article he quoted DealNews, “Stores tighten their return policies considerably during the holidays, making it harder to return items.”
Try Showrooming. The majority of consumers are planning on “showrooming” this year. What’s showrooming? It means that consumers will first go to a physical store to see the product in person and then will turn to the Internet to find the best deal. According to the Accenture survey, 27% of “showrooming” consumers will then likely complete their purchase online either through their smartphone or tablet while they are still out shopping.
Use Twitter and Facebook to search deals. Follow your favorite retailers to make sure you receive their specials and alerts to sales. You can also bookmark CouponTweet.com. According to the site, “Coupon Tweet searches Twitter* for the best deals and discounts so you don’t have to. Search for everything from underwear to Urban Outfitters, electronics & software to cars, clothes, Target” and more.
Time your purchases. If you have a little time to wait on your holiday purchase check out the website CamelCamelCamel.com. The site “provides free Amazon price drop alerts and Amazon price history charts, helping you decide when the price is right.”
Find free shipping codes. Make sure to take the time to hunt down free shipping codes for the item you want. Simply enter in the store name and free shipping in the search bar to see if there is a code. You can also check out FreeShipping.org. The site partners with more than 4,000 merchants to provide users with free shipping offers.
Search for coupons. Don’t forget to look for coupons. If you are still getting a Sunday paper the coupon insert is an excellent place to start. You can also go online and search for coupons at Redplum, Coupons.com, and CouponMom.com.