Did you get lots of gift cards for Christmas? If you have, you're in luck, because according to LSU Marketing Professor Dan Rice, the post-Christmas shopping season is a great opportunity for deals.
Rice says popular, big-ticket items may not have major price reductions, but seasonal items, in particular, will likely be sporting major sales. That's because retailers are trying to make room for spring stock.
“A lot of companies will stock up and hope that this stuff sells, and at the end of the day maybe have a little too much stock and have to go through that,” Rice said.
Rice adds there likely will be major sales deals attached to winter coats, Christmas trees, and holiday silverware or plates, for example.
And what does the profile of your typical post-Christmas shopper look like?
“Probably a lot of people that are savvy, that know what is likely to go on sale after the fact, that are biding their time and waiting to make sales,” Rice noted.
Rice’s only warning for shoppers today is that you understand that if an item is seeing a major sale right now, it’s likely because it didn’t sell as well as expected so don’t make impulse buys.
“Before you spend your money make sure you know what kind of deal you are getting, and make sure the product you are buying is the one that you want,” Rice said.