We are about to enter into quite an amazing Black Friday sales period. And this year, if you can wait, I think we are going to see record-breaking sales through mid January. Why? Retailers are chockfull of inventory, and they are going to need to move it out as Spring deliveries start rolling in.
How you can tell that amazing Black Friday sales are coming
There are two ways to tell that this is going to be an awesome sales season:
- How early and heavy retailers were discounting Fall items this year
- Reports on retailers’ high inventory levels
As you perhaps can tell from other posts, I’m a pretty price-conscious shopper. I have no problem returning something if the price has dropped, or requesting a price adjustment. I have been known to buy something, determine my perfect size, send it back, and wait for it to go on sale š So I’ve noticed a couple of things happening from my favorite retailers:
- Retailers that are usually very stingy with discounts are being more generous (see: Athleta running 20-30% off as a pre-Black Friday sale. This would have been unheard of even last year. And the sale started on 11/8??)
- Stores like COS and fancy ones like Matches and Net-a-Porter sending out coupon codes to “special customers”
- And my quite unscientific detection method? Things that would ordinarily be selling out (in some sizes, at a minimum) are fully stocked, all colors, all sizes (this Vince sweater, for example)
And retailers are getting very worried about their inventory levels. There have been articles in the press:
- “Retailers in US push big holiday discounts to ease inventory avalanche” (Business of Fashion)
- “Retailers’ inventory stockpiles are at record highs” (Washington Post)
- “US Retailers’ ballooning inventories set stage for deep discounts” (Reuters)
How to get prepared for upcoming sales
From the articles above, the consensus is that we are going to see some amazing Black Friday sales. So how to get prepared?
You need a list
Start making your list now. Things that will fill gaps in your closet, things that you might have been watching for months. I’ve got that Vince sweater on my list š As well as a few other things! Determine what color, size you prefer. Perhaps list a second color choice. Definitely note the full price!
You need a strategy
Like any negotiation, you need a strategy. What’s your BATNA? Are you willing to walk away if you can’t get an acceptable price? Perhaps choose a substitute that’s a better value? Or perhaps, even better, be ready with a list of other retailers that sell that exact same item. If Vince won’t give me 50% off, perhaps Nordstrom will?
You need to be patient, then act fast
I would argue that pulling the trigger on a purchase during Black Friday sales is only optimal for the very hottest items. If you can wait, do so. Of course you risk not being able to secure the item at all. But in the case of my Vince sweater, that seems unlikely. And it’s not going in my shopping cart until I see 40-60% off. Don’t jump at low ball offers! 25% is just an opening bid, in my opinion.
And once the price does drop to an acceptable level, I’m buying it right away. Yes, this will require some work. Signing up for the dreaded marketing emails from retailers and ploughing through them on a daily basis (if only for the next 2 months.) Checking the prices in my shopping carts scattered across retailers’ websites frequently. But when it’s time, I’m not going to lollygag!
No regrets! and no second guessing
Once you’ve made the purchase, the hunt stops. Trust me on this. You can drive yourself crazy trying to catch the lowest of the low prices. And yes, some of your new purchases will be further discounted, into February and March. And that’s ok. Console yourself with the fact that you did not purchase that Vince sweater at the outrageous price of $465 in October!!
