Slow down! Why there’s no need to rush to buy those holiday gifts
The sales will still be there after the holidays, according to a new analysis. And some are even better.
As the holiday season comes to a close, you are no doubt running around trying to get the last of your gift shopping done. But is all the anxiety, stress and spending really worth it?
Unlike in countries such as France, where discounts don't hit stores until after the holidays, in the U.S. they are rolled out right after Thanksgiving. The various sales and promotions offered by retailers are of acute importance. In many ways, they determine what we’ll buy, and what we’ll get.
But according to a new analysis of seven major American retailers done by Upstream Commerce, a Tel Aviv-based retail intelligence company that tracks the behavior of retailers and advises them on better practices, the majority of those deals actually stick around weeks after Christmas.
In their recently released Holiday Promotion Report, the company looked into the discounts and promotions offered by Amazon, Bloomingdales, Macy's, Neiman Marcus, Saks Fifth Avenue, Shopbop and Zappos during the past two shopping seasons.
What they found was that most discounts and promotions offered before Christmas remain available well into January. For example, at upscale department store Neiman Marcus, 70% of all discounted items remained so through the first few weeks of the new year. At Saks Fifth Avenue, another popular upscale chain, nearly 60% were. For online shoppers, the news is much the same. 60% of items on sale on Amazon in December remained so through the first half of January.
The analysis also found that the products being discounted aren't simply those out of favor with shoppers, but many that remain popular and were being sold at retail value only weeks before.
“There may be fewer promotions ... but we will see ‘higher quality’ promotions. That is to say, the consumer will benefit from a more recent selection in lower prices," Upstream co-founder Shai Geva told From The Grapevine. These types of analytics are second nature for Geva, who studied computer science at both Tel Aviv University in Israel and Carnegie Mellon University in Pittsburgh.
So, rest easy. You can skip the long lines and avoid the crowded shops. The sales will still be there in January. In the meantime, why not warm up with some winter drinks while you relax at home?
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