There is a best time for almost everything, but it can be difficult to know when the product will be on sale. Here are some general shopping guidelines that you can use to buy most of the things you will purchase. These tips will help you determine the best time to buy almost any item.
Here are five great times for shopping.
It can be cheaper to shop at brick-and-mortar stores on Thursday afternoons or evenings. Although it is not a guarantee, this one is a good bet according to Kristen Regine (a professor of marketing at Johnson & Wales University, Rhode Island) who has a doctorate business administration. Regine states that Thursday is a crucial day for consumers because it’s when retailers take markdowns. They’re preparing for the weekend. They know that they will get the highest foot traffic on Sundays, Fridays, and Saturdays.
2. Holiday Weekends
Sometimes Mondays work better than Tuesdays in some cases. Darrin Duber Smith, senior lecturer in marketing at Metropolitan State University of Denver, said that you should expect big sales on weekends leading up holidays. This can be applied to many products, but especially big-ticket items such as cars. Duber-Smith states that a three-day weekend is great for purchasing. This is a general rule. A Monday off is a big deal. It’s three days instead of two.
There are three popular sale weekends: Presidents Day in February and Memorial Day in May, as well as Labor Day in September.
3. Clearance Sales
Shopping is easier if you buy products at a time when the retailers are selling them off and moving them to the clearance rack. The old stuff must be sold before the new stuff can be purchased. According to Duber Smith, furniture is usually restocked twice per year: in February and august. This means that older furniture styles are often on sale in January and July. Duber-Smith states that inventory is the bane of all retailers. “You want to get rid off something at a cost or below cost, because you believe you can make money from something that will replace it on the shelves.” Always make sure to check the clearance rack. While you’re there, be sure to pay attention to the colors. Regine states that clothing retailers often mark down products based on color rather than according to category. You might find lots of purple or blue apparel on clearance if the color doesn’t sell well or resonate with customers.
4. Same Time Last Year
If you don’t know when these sale events will occur, deals that retailers have hosted previously are usually a good indicator of what deals they will host in the future. Regine mentions that Sephora holds a huge makeup sale in May, Old Navy has flip-flop sales June, and Amazon has its Prime Day sale July. Semi-annual sales are also offered by other retailers like Bath & Body Works. These sales, which are held twice a year, usually take place in January or June. However, the timing of these events can vary. Regine recommends asking store sales representatives about the current and future promotions to find out more about these sales. Keep old emails from retail in your inbox to track sales and predict when they will happen again. You can compare the prices you see today with the prices you have seen in the past to help you evaluate the value of a particular deal. If you see the same retailer offering 30% off sitewide, 20% might not seem as appealing.
5. Apps That Tell You What To Do
It doesn’t take much to make a deal. Regine suggests using technology to help you decide when to buy that item you’ve wanted for a while. To keep track of all the promotions and offers, she uses Shop It To Me and Krazy Coupon Lady. These shopping apps will alert you when certain items are on sale. Regine states, “Let the apps do all the work because there is no simple guide.”