Great day for deals
Dec. 26 often better than Black Friday,
Black Friday may get all the hype, but deal-savvy shoppers know that Dec. 26 can feature even better bargains, especially if you’re in the market for a new wardrobe.
Apparel retailers tend to have some of their best sales immediately after the holidays as they attempt to sell excess inventory and appeal to shoppers who are in stores making returns. The post-Christmas sales likely will be even heavier this year given retailers are struggling to sell winter clothing thanks to unseasonably warm weather in parts of the country, says Oliver Chen, head of retail equity research at financial services firm Cowen Group.
That means even more inventory to get rid of in order to make room for new products in the new year. Expect especially high discounts at department stores, which are among those struggling the most, Chen says.
Apparel — especially gear for teens — averages more than 40% off on Dec. 26, according to data from coupon service Retail-Me Not. Designer clothing is an even better deal at an average of 49% off. Data from Adobe Marketing Cloud also show that apparel will be more discounted online the day after Christmas than on Thanksgiving.
Even though the holiday giftgiving season technically might be over, the day after Christmas is still a top-10 sales day for retailers and the third-biggest day for holiday season traffic in stores, ac- cording to ShopperTrak.
The steep discounts stem from the need to get rid of seasonal apparel with a short shelf life, the same reason holiday decor or any holiday-themed products are on clearance after Christmas. So Dec. 26 also is the time to stock up on next year’s wrapping paper, garlands, ornaments and seasonal dinnerware.
“The more seasonal it is, the more they’re going to have to discount it,” says Simeon Siegel, a retail analyst with financial company Nomura. “Outerwear and sweaters are going to be more discounted than jeans.”
In addition to clothes, some audio equipment — including lower-tier headphones and refurbished cameras — tend to be good buys after the holidays, according to DealNews, which tracks the best deals at online retailers.
“The more seasonal it is, the more they’re going to have to discount it.”