‘Tis the season for Christmas trees, lights and gifts, and in the past that has also meant the season of outrageous spending. While the holidays may not be cheap, hard times sometimes call for desperate measures and drastic budget changes. Here’s a look at the hard facts and numbers of this most wonderful time of the year.
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Christmas often comes at a high price. Between gifts, wrapping paper, travel and parties, making Christmas happen can spell financial ruin unless you go into it with a plan. But this year can be different. With some intelligent cost-cutting and creative thinking, Christmas need not drain your wallet this year – or be any less satisfying than in years past. Read on and apply these 12 tips for enjoying a great Christmas on a small budget!
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Between Black Friday and Cyber Monday, American consumers dropped an estimated $41.2 billion on electronics, clothes, toys, and appliances. While the numbers are still rolling in, the existing data offers some interesting conclusions.
As The New York Times reported, more people hit the stores this weekend when compared to last year, but the average spending per person this year was $343.31 per person, down from $372.57 last year. Total spending clocked in at $41.2 billion, which is roughly the same as last year.
Bottom line: people are still hanging on to their hard-earned cash. That’s actually good news for those of us who stayed at home, because it means we can expect to see deals throughout the holiday shopping season as retailers work to keep consumers spending. Major retailers like Target, Walmart, Amazon, Macy’s, and Kohl’s will continue dropping prices throughout the holiday season. In an effort to maintain shopper interest, most are pushing “a deal a day” type specials that encourage shoppers to visit both websites and brick-and-mortar stores.
According to the National Retail Federation and eMarketer, online spending is projected to increase 5.4% this year, while offline shopping is expected to dip by 1%. In absolute numbers, however, offline shopping still dominates. Consumers are projected to spend about $30 billion online and about $438 billion offline.
Lastly, while most Thanksgiving shopping weekends are marked by the constant demand for televisions, laptops, other electronic gadgets, each year may be correctly identified by a crazy fad. Remember Beanie Babies? Tickle-Me-Elmos? This year, meet the Zhu Zhu Pet.
Originally retailing at $8 – $10, these little toy hamsters rapidly sold out on Black Friday and are now available only online to the tune of $40 – $50. The shortage is clearly caused by Christmas demand, so those of us here at BillShrink have some firm advice for would be Zhu Zhu owners: wait. Demand will be down by February and prices will be more normal. (And if you really, really can’t wait, bid strategically on eBay.)
Happy holidays!
In recent years, as people started shifting their buying habits more to online transaction, the buzz word “Cyber Monday” will often be float around by the media as Thanksgiving weekend near its end. Just earlier this morning, CNN reported that Cyber Monday online shopping reached a staggering 4.3 million visits per minute by 2:20 PM EST. Other media outlets have their experts point you to some “best” Cyber Monday online deals, with one large media outlet comfort readers by telling them: “If you’ve missed the Black Friday shopping spree, have no fear, you can also find the best deals online at the comfort of your desk.”
Unfortunately, these claims are a bit inaccurate. Cyber Monday was never intended to be a price-slashing, deal-hunting day such as Black Friday. The term “Cyber Monday” is a marketing term whipped up by the National Retail Foundation back in 2005, along with the development of their website CyberMonday.com, to highlight the fact that online shopping traffic increases significantly during the Monday following Thanksgiving weekend. Though it was never intended to be a specific day that drives massive discounts like Black Friday, because of the wide adoption of the term by mainstream media and online retailers, some have stipulated that the “gimmick” of Cyber Monday will start becoming a real trend.
Can you really avoid the crowds and snap up some sweet deals? Is Cyber Monday really offering can’t-miss deals?
Heading out this Black Friday to battle the masses and fight for the best deals? Here’s a list of 58 notebook computers, electronics, and gadgets that’s worth your time and money. (We’ll be adding more to the list throughout the day plus scanned Black Friday ads for other major retailers soon, feel free to bookmark!)
Does the idea of shopping on Black Friday make you want to cringe? If the prospect of dealing with the crowds, the lines, the pushing and the shoving intimidates you, take a look at our Black Friday holiday shopping survival guide. Here are 13 common sense tips to ensure you finish your shopping trip with your sanity intact.
With the holidays just around the corner, many people are making their lists and checking them twice. One list that should not be neglected this shopping season is a list of the best credit cards for you, depending on what type of shopper you happen to be. The image below will help you decide how to get the most out of your budget and save money just by selecting the right way to pay for your purchases.
We admit it: much advice about holiday shopping is rather simplistic and preachy. Like diet and exercise, holiday shopping is something we all feel comfortable bleating about – even if we aren’t following best practices ourselves. But with so much money at stake, it never hurts to refresh on the fundamentals of intelligent, budgeted holiday shopping. Keep these 20 tips in mind and you’ll escape the holidays without a heart attack-inducing credit card bill in January.
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