If you are worried about overspending at Christmas, then you should be gift savvy and take advantage of the New Year sales.
Offering gift vouchers to your family at Christmas may afford them the chance to get some great bargains when the stores begin to clear stock.
The sales often happen after Christmas and New Year or they occur at the year-end. Clearance sales are more likely to happen when there is a change of season and seasonal items are reduced.
But don’t assume that everything marked down is a bargain, people need to know how to shop smart.
Don’t make the mistake of quickly grabbing the newspaper advert offering the special without first checking the items for sale and knowing their specifications.
Clearance sales are held during different times of the year when retailers try to do several things:
Sell any overstock still taking up too much shelf space, sell items that are soon to be on the clearance list, turnaround gift returns/exchanges (both opened and unopened), sell through old display models, and sell old products that have been to service.
Overstock Items
This is where the consumer can get a good deal, depending on how desperate the store is to clear out shelf space. Overstock items are usually those items that are no longer in demand, you can get these items in new and sealed boxes. Here you know that they haven’t been opened, returned, or used.
However, many consumers don’t react well to the word “clearance”, which may project the idea that a product may be, in some way, inferior to a newer model.
If you are bargain hunting, this could end up being a great deal. The retailer gets rid of a product that will soon be discontinued and the consumer gets a great price.
Gift Returns/Exchanges
When it comes to returns and exchanges, stores want to turn these around as quickly as possible.
Returned items are not always faulty or defective, they may simply be items that a person already has.
In order to sell this stock, the prices are significantly reduced.
If you want to buy something that has clearly been opened – Check for a discounted price sticker made by the store on the box and confirm with a sales person or store manager that the open box price is indeed a discount price, and not the same as a new item.
Always check the contents of any box, to make sure all the bits and pieces are complete.
Note how the accessories are packaged. Are the cords, remote, and manual in their original packaging (which may indicate the product may not have been used), or are they obviously repackaged.
If the box has been opened, ask to see the item plugged in and working before you leave the store.
Also, check to see if there is a date code on the open box label or price sticker.
This won’t tell you how old the product is, but it does tell you how long the item has been sitting on the shelf as open box item.
Use Coupons for More Savings
Coupons for baking supplies, other holiday foods dominate the newspaper inserts in the week’s leading up to Christmas, but that doesn’t mean you have to use them then.
Wait until things go on clearance, and then use those coupons to get an even better deal.
Shopping ahead for next Christmas makes sense, but so does shopping ahead for other occasions.
Use the after-Christmas sales to stock up on birthday presents, anniversary gifts, Mother’s Day/Father’s Day presents and end-of-the-year teacher’s gifts.
Don’t overlook bargain stores and charity shops – One man’s Christmas return could become your next big bargain. Scour the electronics and clearance sections of stores for open box merchandise and other returned items that can no longer be sold at full price.
Look Past the Packaging
Nuts, chocolate, cereal, cookies and many other foods get special packaging for the holidays – a selling point before Christmas, but not much of one after. Look for these items to get marked down quickly, and enjoy cheap eats throughout the year. Remember: it’s the packaging and not the food that’s expired.
Shop at the Chemist
Drug stores are a great source for after Christmas deals because they tend to receive less foot traffic than big-box stores (meaning there’s more to choose from), and they generally mark down their merchandise faster.
Stock Up on Craft Supplies
Do you make a lot of your own Christmas gifts? Then, use those after Christmas sales to stock up on holiday-themed ribbon, fabric and craft supplies.
