Labor Day sales
Be ready to work for bargains
This Labor Day, consumers who are ready to spend will face the retail impacts of the continuing pandemic, supply chain interruptions and inflation.
Labor Day savings may not be as easy to spot this year, either online or in person. In fact, for some product categories, there might not be discounts at all.
Here’s what you need to know about the sales — and why you may have to work a little harder to find what you’re looking for on Sept. 6.
1 Retail faces tough slog
Ramping up production after last year’s COVID-19 shutdowns has led to ripple effects in the retail world.
“The supply chain issues are very real in that the retailers are having a difficult time getting product, and when they do get product, they are facing a higher cost for the product,” says Tom Arnold , professor of finance at the University of Richmond’s Robins School of Business in Virginia.
2 Sale categories are in flux
As a result, Labor Day staples like car sales, appliance deals and mattress markdowns might not be a given in 2021 — or, not as impressive.
Retailers will be motivated to unload whatever warm-weather inventory they have left over before consumers transition to fall. You can also expect clothing deals, as Labor Day falls within the back-to-school shopping season.
Promotions are expected to take place at big-box retailers, home improvement outlets, department stores and tech giants. For example, Wayfair, Best Buy and Macy’s have been known to offer Labor Day savings.
3 Shoppers have to work for deals
If you choose to shop over Labor Day weekend despite the challenges, here’s how to maximize your money and increase your chances of finding a good deal:
• Compare prices. Seek out deal comparison sites and sales roundups that do the homework for you, or start monitoring prices yourself before Labor Day so you can judge the value of a sale.
• Choose your mode of shopping. If you’re worried an item will be backordered, you may want to consider shopping in person instead of from home to ensure you get what you want.
• Weigh needs versus wants. If you need it right now, get it where it’s available. If you want it but could go without for a few months, try holding off until some of the supply chain issues are under control. Black Friday sales — which are historically better than Labor Day — will be coming in November.
This article was provided to The Associated Press by the personal finance website NerdWallet. Want to suggest a personal finance topic that Quick Fix can address? Email apmoney@ap.org.