1. 2015 Holiday Shopping Season Forecast
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Some retailers have been moving away from the Thanksgiving day sales push and that is helping to put the focus back on Black Friday. Many retailers are also offering bigger discounts amid sluggish demand, higher inventory levels and increased competition.
Brian Hoyt at online coupon site RetailMeNot says this will translate into big savings for consumers this Black Friday. He says, “The exciting news for consumers is that more retailers are going to be vying for their attention and that means there are going to be more opportunities to save.”
2. The Biggest Deals
The biggest discounts this week are expected in consumer electronics, where prices may be slashed by more than half. Accessories including jewelry and handbags may see discounts around 50%. Prices for designer clothing may be cut about 45%.
Week of Black Friday Discounts by Percentage Off (Average) Electronics/Computers 52% Accessories (Jewelry & Handbags) 50% Designer Clothing 45%
3. Savings Strategies
Download a shopping app—get a little help to find the best deals with apps such as Coupon Sherpa and RetailMeNot. These apps will give you the latest promotions and coupon codes right from your phone. Coupons can offer additional savings on top of already discounted Black Friday prices. It is definitely worth a try.
4. Don't Miss Promotions - Sign Up With Retailers
Sign up with retailers—if you have a favorite store or a brand you love, analysts say make sure to sign up for the company’s newsletter or get on its mailing list. Retailers check inventory often throughout the week and will update discounts accordingly. Make sure to stay in touch to get the latest Black Friday promotions and discounts.
5. Take Advantage of Gift Cards
Gift cards are big this holiday shopping season. Retailers are adding gift cards with certain purchases. For example, Target (NYSE:TGT) on Black Friday will offer $100 gift cards to shoppers who buy certain Apple (NASDAQ:AAPL) products. Why not use that gift card to knock out another gift on your list? Retailers are also offering discounted gift cards. At Target, buy one Apple gift card and get one 30% off. Costco (NASDAQ:COST) is also offering discounted gift cards for select retailers.
6. BOPIS (Buy Online and Pick Up in Store)
Buy Online and Pick Up in Store (BOPIS) — retailers are making a big push to make BOPIS more popular with consumers this holiday season. Shoppers can get a special online price but the item must be picked up in the retail store. Shoppers can get a discount and no need to wait for shipping. For retailers, there are no shipping costs and shoppers may make additional purchases when visiting the stores. As for the best time to shop in-store on Black Friday, analysts say aim early. Most of the doorbuster deals are typically gone before noon. Also remember, retailers may not disclose many big Black Friday deals until a few days before the big day so keep a constant lookout.