A Savvy Shopper's Secrets to Sales
Kelly Hancock knows a good deal when she sees it. Here's how she saves up to 75 percent off everything
Ever notice how candy is ridiculously cheap the day after Easter or Halloween? That’s because retailers are trying to unload the unsold inventory as quickly as they can. Take that concept and apply it to things like groceries, electronics and home furnishings, and you’ll never want to buy full price again.
Kelly Hancock is the founder of Faithful Provisions, a website that teaches people how to save money. She’s also the author of two e-books, Saving Savvy (2011) and What to Buy When, set to publish this fall. Basically, she’s studied retail trends and cycles to find when companies and stores put their items on sale or on clearance. She says companies majorly discount inventory right after a main season — like summer or Christmas — but also a few months before a main season, to get consumers thinking about these seasonal products.
“When you can figure out the game of how retailers put things on sale, you can save 50 to 75 percent. Then it becomes all about self-control of when to buy,” Hancock says.
Kelly Hancock is the founder of Faithful Provisions, a website that teaches people how to save money. She’s also the author of two e-books, Saving Savvy (2011) and What to Buy When, set to publish this fall. Basically, she’s studied retail trends and cycles to find when companies and stores put their items on sale or on clearance. She says companies majorly discount inventory right after a main season — like summer or Christmas — but also a few months before a main season, to get consumers thinking about these seasonal products.
“When you can figure out the game of how retailers put things on sale, you can save 50 to 75 percent. Then it becomes all about self-control of when to buy,” Hancock says.
Know the big sales holidays. For big appliances take a chance on sales around Labor Day, Memorial Day, the Fourth of July and back-to-school time. Many of the big-box stores have huge discounts on things like washers, dryers and TVs then.
Know the price. One of the most important things when it comes to budget shopping is being educated, Hancock says. You have to know what the top retail price is on the items you’re looking for so you'll know a good deal when you see it.
Recently Hancock was looking to buy a 42-inch Samsung TV. She did some research and found that it retailed for about $1,800. Her goal was to get it at 30 to 40 percent off. Every Sunday she flipped through coupon sections until she noticed a big, random sale at H.H. Gregg, which had the TV she wanted for $1,000. “I got that TV for more than 50 percent off. I wouldn’t have known that was a great price if I hadn’t been watching it,” she says.
Hancock suggests keeping a list of the items you want and paying attention to the price changes. You can look up ads online from previous seasons and see what discounted prices a certain product has been sold for before. That will give you an idea of what it could potentially drop to.
Recently Hancock was looking to buy a 42-inch Samsung TV. She did some research and found that it retailed for about $1,800. Her goal was to get it at 30 to 40 percent off. Every Sunday she flipped through coupon sections until she noticed a big, random sale at H.H. Gregg, which had the TV she wanted for $1,000. “I got that TV for more than 50 percent off. I wouldn’t have known that was a great price if I hadn’t been watching it,” she says.
Hancock suggests keeping a list of the items you want and paying attention to the price changes. You can look up ads online from previous seasons and see what discounted prices a certain product has been sold for before. That will give you an idea of what it could potentially drop to.
Over-the-Cabinet-Door Coupon Pockets
Get organized. What if you see a great clearance sale but forgot what you need or what size? Keep a big accordion envelope filled with coupons and deals in your car so you’ll always have it when you’re out and about.
Also, Hancock recommends keeping a list of items you need and in what sizes. You can also create a Houzz ideabook to keep track of home furnishings and accessories you want, including sizes and colors. That way if you’re in a store and see a big clearance rack, you can pull up the Houzz app and see exactly what you need.
“I moved into a new house recently, and I knew I needed five different sets of drapes," Hancock says. "I had the color scheme all planned out and the sizes written down. When I popped into Bed Bath & Beyond, I found silk drapes on clearance for $6 that were usually $100. I pulled out my list and knew what color I needed and the size.”
Also, Hancock recommends keeping a list of items you need and in what sizes. You can also create a Houzz ideabook to keep track of home furnishings and accessories you want, including sizes and colors. That way if you’re in a store and see a big clearance rack, you can pull up the Houzz app and see exactly what you need.
“I moved into a new house recently, and I knew I needed five different sets of drapes," Hancock says. "I had the color scheme all planned out and the sizes written down. When I popped into Bed Bath & Beyond, I found silk drapes on clearance for $6 that were usually $100. I pulled out my list and knew what color I needed and the size.”
Hancock's Tips on What to Buy When:
January: Mid- to late January is when to buy furniture, home fitness equipment, electronics, HDTVs, laptops, bedding and linens. There won't be as big a selection as before Christmas, but the deals will be substantial.
Hancock says you used to be able to find great deals just a few days after Christmas, but about five years ago she started noticing that trend push well into mid-January. If you can hold out for a couple of weeks, you'll see amazing discounts.
February: Electronics, home fitness equipment, bicycles
January: Mid- to late January is when to buy furniture, home fitness equipment, electronics, HDTVs, laptops, bedding and linens. There won't be as big a selection as before Christmas, but the deals will be substantial.
Hancock says you used to be able to find great deals just a few days after Christmas, but about five years ago she started noticing that trend push well into mid-January. If you can hold out for a couple of weeks, you'll see amazing discounts.
February: Electronics, home fitness equipment, bicycles
March: Humidifiers, washers, dryers, lawn tools
April: Easter decor, furniture
April: Easter decor, furniture
May: Office furniture
June: Furniture and tools
July: Tool sets, computers
June: Furniture and tools
July: Tool sets, computers
August: Beach gear, outdoor play sets, bedding and linens
September and October: Patio furniture, gas grills, electronics
You can also find deals on summer-related products a couple of months before summer, like in April, when companies put things on sale to get consumers thinking about products. “If you’re on a serious budget, wait until after summer. If you want to catch a good deal, check in a month or two before a season or holiday,” Hancock says.
You can also find deals on summer-related products a couple of months before summer, like in April, when companies put things on sale to get consumers thinking about products. “If you’re on a serious budget, wait until after summer. If you want to catch a good deal, check in a month or two before a season or holiday,” Hancock says.
November: Cookware, flatware, home furnishings, electronics, DVDs
December: Cookware, flatware, autumn home decor, off-brand TVs, laptops
December: Cookware, flatware, autumn home decor, off-brand TVs, laptops
If You Just Can’t Wait ...
Of course, this budget approach won’t work if your washer goes out and you need a new one ASAP. In cases like that, Hancock asks for recommendations from friends and family about any deals they found on an appliance. She then does some research to see if there’s a new model out. That way she might be able to get an older model at a discount. “You’d be surprised how many retailers will just want to get rid of an older model,” she says.
Some places, she says, will even barter with you — just flat out ask for a discount. You can also sometimes save up to 25 percent by buying online or get something discounted by signing up for a loyalty program. “Or 90 percent of the time if you call and talk to someone, to get you into the store they will offer you a discount over the phone," Hancock says. "Or tell them you’re price matching, and you might be able to bring in a coupon from another store and get it at that price.”
There are still places where salespeople work on commission, too. If you get a salesperson on the phone who's looking to sell an appliance, he or she might offer you 20 percent off if you come into the store that same day and buy it.
The online deals mentioned above include on Houzz, which often offers in-stock items at 10 percent off.
Your turn: What's your secret to budget shopping?
More: Shop the Products section
Of course, this budget approach won’t work if your washer goes out and you need a new one ASAP. In cases like that, Hancock asks for recommendations from friends and family about any deals they found on an appliance. She then does some research to see if there’s a new model out. That way she might be able to get an older model at a discount. “You’d be surprised how many retailers will just want to get rid of an older model,” she says.
Some places, she says, will even barter with you — just flat out ask for a discount. You can also sometimes save up to 25 percent by buying online or get something discounted by signing up for a loyalty program. “Or 90 percent of the time if you call and talk to someone, to get you into the store they will offer you a discount over the phone," Hancock says. "Or tell them you’re price matching, and you might be able to bring in a coupon from another store and get it at that price.”
There are still places where salespeople work on commission, too. If you get a salesperson on the phone who's looking to sell an appliance, he or she might offer you 20 percent off if you come into the store that same day and buy it.
The online deals mentioned above include on Houzz, which often offers in-stock items at 10 percent off.
Your turn: What's your secret to budget shopping?
More: Shop the Products section