Retail sales numbers for Black Friday this year gave many retailers hope that the holiday shopping season would not be as bad as expected. However, the rest of the holiday shopping numbers didn’t do so well. To entice shoppers into their stores, many retail stores had similar or identical deals as those offered on Black Friday. Unfortunately, those deep discounts didn’t help out retailers much in what amounted to a very dismal holiday shopping season for 2008.
If you chose to wait for after-Christmas sales, got gift cards or cash and plan to do some shopping – you are in luck! Many top retailers have slashed prices on already deeply discounted items even further and we are not talking about Christmas ornaments or that ugly sweater you got. We’re talking about further price reductions on brand-name apparel and even high-end electronics. Be sure to check out sale prices from Macy’s, Target, Walmart, Sears, Circuit City and more.
Don’t worry about big crowds either as recent weather conditions (snow) throughout most of the country and with many people heading back to work today, there won’t be much competition. You most likely be able to find exactly what you want without much hassle in the store or online.
Get out there, save (& spend) some money and don’t forget to use a reward credit card on every purchase!
There has been a lot of skepticism about this year’s holiday shopping season. Skepticism has come from retailers and consumers alike. But, the outcome from Black Friday and Cyber Monday should put every one’s fears at ease.
Polls showed that consumers were planning on spending a lot less this year. However, polls show people’s intentions, not their actions. As a society, we often act differently (especially when it comes to spending money) than we intended. There are three main reasons why people acted differently than their intentions predicted…
1. It’s for the kids! Parents and other adults seem to deprive themselves so that they can give to the kids. It often means us going without so that the kids can have the latest and greatest toys.
2. Frugality. There seems to only be so much frugality that people can take. Consumers get tired of deprivation. This deprivation leads people to to splurge and sometimes go overboard.
3. Math skills. Many people think they are getting great deals until they stop to actually add up the math. Many consumers do the math too late and end up making mistakes when it comes to holiday shopping.
Here are some helpful tips for smarter holiday shopping this year.
1. Check it out - Retailers can be tricky and crafty. They have to be, especially in today’s economy. Be careful when doing your holiday shopping. Do your research and make sure you aren’t buying the same things over and over and over.
2. Make a list - If you tend to forget about the gifts you’ve already purchased, go ahead and make a list. Lists can prevent you from overspending and help you prioritize.
3. Cost vs. Value - Sometimes it pays off to spend a little bit more money. Check out the quality. Would it be worth it to spend $5 extra for the one you know is going to last?
4. Know your rewards - Before doing any holiday shopping, review the reward benefits for all of the programs you are a member of; MyPoints, InboxDollars, AMEX, etc. It really pays off to review the reward options for each store before making any purchases.
5. Compare, compare, compare - Just because you think something is a great deal, you should still do a little bit of research first. It is safe to assume that anything that is really cheap is the lowest-end quality. Do your research before spending any of your hard-earned money.
6. Don’t rationalize - Don’t give yourself a guilty conscience just because you bought yourself a sweater. It is also important to realize that you can’t buy everything on your list. Your loved ones can’t have EVERYTHING they want. Count your blessings instead of rationalizing.
7. Keep your perspective - Perspective is the most important thing to have this holiday season. Keep in mind that the people on your list are going to be thrilled to get whatever you got them. If you don’t buy it, they certainly can’t miss it.
These tips are sure to come in handy this holiday season. The most important thing to remember is that you can make a lot more out of your holiday shopping if you do your homework and stay informed.
Black Friday wasn’t projected to be very successful this year. Why? Because the U.S. economy isn’t doing too hot, so experts expected that sales would be down on Black Friday. However, Black Friday was not bleak at all for retailers this year.
The official holiday shopping season was kicked off on Black Friday. Retailers around the country didn’t get their hopes up. Experts predicted that the day after Thanksgiving would bring lower-than-average sales. These experts couldn’t have been more wrong.
Black Friday this year did better than it did last year, if you can believe it. Malls and shopping centers were more crowded than ever. It has been estimated that over 172 million shoppers took advantage of Black Friday deals this year. These consumers went shopping over the course of the three-day weekend.
Last year, only 147 million shoppers went out. That is more than 30 million people that took advantage of Black Friday deals this year. These shoppers didn’t go out for nothing. The average shopper spent over $370…$372.57 to be exact. Last year, the average shopper only spent $347.55. There were quite a few more shoppers this year and the average shopper spent more this year than last year. In fact, shoppers spent, on average, about $25 more than last year. Over $41 billion was spent over the course of last weekend.
These are surprising numbers, especially considering the economic crisis our country is in right now. Black Friday deals aren’t over though. Many of these excellent deals are being carried into today. Today, Cyber Monday, is targeted to benefit online shoppers. A recent survey conducted by Shop.org predicts that 84.6 million people plan on shopping online today.
Scott Silverman, the Executive Director at Shop.org recently said, “Online retailers have been planning their Cyber Monday promotions for months and are eagerly waiting to debut these deals to shoppers. Many people who didn’t want to fight the crowds or get up early to stand in line over the weekend have been waiting until Cyber Monday to start their holiday shopping.”
Cyber Monday could surely bring more good news to already pleased retailers. Over 83 percent of retailers are offering special deals and promotions. Black Friday was already successful and Cyber Monday is expected to be even more successful. Who said this economy is struggling? Numbers from the Black Friday weekend show quite the opposite.
Make you holiday shopping more enjoyable this year with credit card rewards.
Over the course of the past few weeks, several changes have occurred to many of the credit cards on our website along with the complete removal of others. The proverbial belt of available credit appears to be tightening even more as interest rates are raised, credit lines are trimmed and cards are eliminated all together. And all of this is happening just as we enter into the holiday season, the time of year where retailers offer great deals on merchandise and the demand for credit increases dramatically.
Despite all the changes and the reasons for those changes, there are still some really good credit cards available and even some issuers have improved their offers for holiday shoppers this season. If you’ve been thinking about applying for a credit card this holiday season, now is the time to do so. Several very competitive and industry stalwarts are still available that earn rewards, allow you to make purchases or balance transfers for an introductory 0% APR and help establish or rebuild credit.
The term “Black Friday” can be traced back to the 1960′s in Philadelphia (WikiPedia 2008) and did not carry the same connotation it carries now. Nowadays, “Black Friday” is still synonymous with long lines and traffics jams, but more importantly the amazing deals retailers offer us on electronics, clothing and other holiday merchandise. If you’re one of the few employees who still gets a Christmas or year-end bonus, taking advantage of the “Black Friday” deals may not always be practical with the timing of a bonus. However, taking advantage of an introductory 0% APR on purchases would allow you to enjoy the special pricing on the day after Thanksgiving for many of your gifts, pay no interest and pay off the balance with your bonus. You can also enjoy additional savings when using a reward credit card.
If your looking past the holidays in anticipation to the start of a new year and are looking to make a few New Years goals, like getting out of debt, then check out balance transfer offers. Bank of America has extended some of their balance transfer offers to 15 months for 0% APR and a low 3% transfer fee. For those with a balance still on their department store credit cards accruing 20 plus percent interest, check out card offers that offer lower rates on balance transfers for those with excellent, above average and good credit.
No matter what type of credit you have, there are still many offers to choose from. Making sure you act fast to save additional money on holiday purchases, saving money on existing balances or to rebuild your credit, there is a credit card offer available for every need. Remember this holiday season to read the full terms and conditions of each card and never over-extend yourself from your ability to repay your balance in full within a reasonable time if necessary.
