Finances FYI Presented by JPMorgan Chase
Smart shopping involves more than just finding good deals. It is also about timing your purchases strategically. One effective approach for saving money and getting the most value out of your shopping is to shop based on annual sales cycles. By understanding when retailers typically offer the best discounts on certain items throughout the year, you can make savvy decisions about when to buy. This guide unveils how to shop based on annual sales cycles to maximize your savings.
Understanding Annual Sales Cycles
Annual sales cycles refer to the predictable discounts and promotions that retailers follow throughout the year. Various factors, including product type, holidays, seasons, and inventory turnover influence these cycles. By recognizing these patterns, you can plan your purchases to take advantage of the best deals.
Sales Based on the Type of Purchase
To shop effectively based on annual sales cycles, understand when specific items typically go on sale. Here are some common categories and their associated sale periods:
- Clothing and Apparel. Major clearance sales for winter and summer clothing occur at the end of each respective season. Back-to-school sales are also prevalent in late summer.
- Electronics. Look for deals on electronics during Black Friday and Cyber Monday in November. New models of gadgets are often released in the fall, leading to discounts on older models.
- Furniture. Furniture tends to go on sale during major holidays like Memorial Day, Labor Day, and Independence Day. Additionally, January is a popular time for furniture stores to clear out inventory from the previous year.
- Appliances. Big-ticket appliances like refrigerators and stoves are often discounted during holiday weekends, especially Presidents’ Day and Memorial Day.
- Cars. If you’re in the market for a new car, consider buying during the end-of-year clearance events when dealerships are eager to make room for the following year’s models. Dealerships often have sales quotas to meet at the end of each month and may be more open to making deals during that time.
- Jewelry. Look for discounts around Valentine’s Day, Mother’s Day, and the holiday season.
- Bedding and Linen. A somewhat lesser-known annual deal is called “white sales,” typically run by department stores specifically on bedding, towels, and linens.
- Sustainable Items. Look for sales on sustainable items around Earth Day, including reusable bags, smart gadgets, earth-friendly cleaning and beauty products, seeds, plants, and other gardening items.
- Back-to-School Supplies. Find discounts on school supplies such as notebooks, pens, dormitory items, and laptops in late August and early September.
- Outdoor Items. Outdoor furniture such as patio sets, grills, and fire pits will typically go on sale early in the spring and again in the fall when the weather turns cool.
Take Advantage of Holiday Sales
Holidays provide both pre and post-sale opportunities. There will be general sales on many products before big holidays like Christmas or more specific items like jewelry, clothing, and gardening for Valentine’s and Mother’s Day. Tools, outdoor items, and other dad gifts often go on sale around Father’s Day.
Post-holiday sales, such as after Valentine’s Day, Halloween, or Christmas, offer savvy shoppers excellent opportunities to save money. You can score significant savings on holiday-related items for a short time after the holiday. Typical deals include holiday-themed candy, decorations, and DIY crafts.
Discover Annual Brand Sales
Have a favorite brand or product? Find out if they have an annual or semi-annual sale. Here are a few examples:
- Amazon typically holds two Prime Days a year with special deals across several product categories.
- Apple usually announces new products in September and then often discounts older models.
- Home Depot has a Spring Black Friday, typically in April.
- Macy’s, JCPenney, Best Buy, Kohl’s, and other brands hold Black Friday-in-July sales.
- Nike has a friends-and-family discount in February.
- Target runs a semi-annual toy sale in January and June.
- Ulta has a 21 Dys of Beauty sale in March and September.
While buying an item immediately when you need it may be tempting, waiting for the right time can lead to significant savings. Keep an ongoing list so you know exactly what you need, and avoid impulse purchases by holding out for the next sale cycle.
To maximize your savings, stack coupons and loyalty discounts on top of sale prices. Many retailers offer additional promotions during sale events, such as discounts for using a store credit card or coupon codes for online purchases. Be mindful that some sale items may have more restrictive return windows or policies.
Shopping based on annual sales cycles is a savvy way to save money and maximize purchases. By understanding the patterns of discounts and promotions, you can enjoy the thrill of a great deal while staying within your budget.
Finances FYI is presented by JPMorgan Chase. JPMorgan Chase is making a $30 billion commitment over the next five years to address some of the largest drivers of the racial wealth divide.