Have you started your holiday shopping yet? If you’re waiting until Black Friday or even Cyber Monday, you’re already missing out on some of the biggest sales.
You see, companies have decided to throw Black Friday and Cyber Monday to the wind. There are already deals out there, and many of the top retailers are calling it Black Friday although the sales are happening now.
Many companies don’t want to rely on just two days to capture the bulk of their sales for the holiday season. They’re scared that consumer spending won’t be the way it has been in the past — and they have reason to be concerned, too. With inflation and higher interest rates, many Americans are playing it safe.
The US Commerce Department showed that sales dropped by 0.1% in October from the prior month. While that’s not a lot, it is definitely a trend in the WRONG direction.
Neil Saunders is the managing director for a research firm known as GlobalData. He explains, “Retailers are a bit nervous, and they know it’s going to be a challenging holiday season. They want to pull in people to shop now, because if they leave it too late, they’re afraid customers may go elsewhere.”
So, if you’re waiting until Black Friday to get the best deals, you may be disappointed. While plenty of retailers will be offering their sales through Friday and beyond, the inventory may be gone by then, too. That’s the other issue with waiting — others may have captured the deals you were too hesitant to take advantage of.
What does that mean for your holiday shopping plan? Start now. Don’t try waiting for a better deal because retailers are already doing their best to get your attention.
