Christmas may be behind us, but the holiday sales are most definitely not.
Hoping to clear their shelves and eke out a profit this year, struggling retailers are rolling out post-holiday sales packed with even steeper discounts than consumers saw during the already highly-discounted holiday shopping season. Even better, this year’s post-holiday sales include discounts on a wider range of items than usual — it’s a great time to hunt for flat-screen TVs and luxury apparel like cashmere — and should last longer than in years past, says Scott Krugman, a spokesperson for the National Retail Federation.
Retailers, of course, have a vested interest in enticing consumers to spend. After all, the week between Christmas and New Year’s is traditionally a banner one for stores, accounting for 10% of November-December sales, according to the National Retail Federation. This year, the figure will probably be higher since many consumers have been holding out for the best deals, says Krugman.
Before braving the post-holiday crowds, here’s what shoppers need to know and, as an added bonus, where some of the big discounts can be found in the days ahead:
Don’t Expect to Find Exactly What You Want
Be prepared to be disappointed when hunting for the set of tumblers you want to match your existing inventory of glassware. All of those blowout holiday sales held earlier in the season have left many stores running low on inventory, says Randy Allen, associate dean at the Johnson Business School at Cornell University. That’s because stores returned items that weren’t selling to their manufacturer or sent them to discounters like TJ Maxx (TJX), Marshalls and Overstock.com (OSTK: 12.41*, +0.44, +3.67%).
Better Deals Can Often Be Found Online
While many of the same sales taking place in the stores are also being promoted on the retailer’s web sites, shoppers can often save more by shopping online. That’s because many web sites let you use online coupons and promotion codes. To search for promo codes for the stores you want, check web sites like CouponCabin.com and Coupons.com. CouponCabin.com, for example, offers a coupon to save $15 off a $75 or more purchase at the Gap.com, which has cut prices on most of its merchandise by up to 50%.
Read our story for some of the best coupon-clipping sites on the web.
Know the Store’s Return Policies
One piece of holiday cheer that retailers plan to extend well past the New Year will be their return policies, says Krugman. More than half of the retailers that the NRF surveyed said they were easing their restrictions on returns in order to boost their sales. Consumers, the logic goes, will be less hesitant to spend when they know they can change their minds.
Nevertheless, consumers should ask about the return policy before heading out of the store, especially if that item is in the clearance section or if the company is struggling financially. In most cases, return policies are nonexistent at stores in liquidation. Instead, you may be better off looking for deals at stores that are in good financial standing where you’ll have little trouble making the return.
For more tips on navigating store return policies, click here and for advice about shopping the closeout sales, read our story here.
Here’s a sampling of what retailers are offering to entice post-holiday shoppers:
| Retailer | Savings |
|---|---|
| Banana Republic Factory Outlet | 50% off most merchandise. |
| Bloomingdale’s | 50% off already reduced men’s sportswear, dress shirts, ties and shoes and women’s sportswear and dresses (for a total savings of 60% to 80%); 30% to 50% off handbags; 50% off fur coats; at least 15% off diamonds, pearls and other jewelry; 50% off cashmere sweaters; 40% to 60% off select furniture; 20% off mattresses |
| Circuit City | Save between $100 and $700 on HDTVs, between $30 and $100 on digital cameras, and save $220 on HP Verde Desktop PC with 19-inch LCD monitor |
| Gap | Up to 50% off most clothing; take an additional 25% off markdowns |
| Guess | 25% off full price merchandise and 50% off sale merchandise as of December 24 |
| IKEA | 20% to 60% off select home furnishings. This offer is only available in most store locations. |
| JCPenney | 40% to 60% off bed sheets; up to 50% off bed pillows; 40% off down comforters; Christmas trim and décor at 75% off; select electronics at up to 75% off; juniors denim and sweaters on sale starting at $20 and $10, respectively; 50 percent off most diamond jewelry |
| Nordstrom | 40% off men’s cashmere sweaters, 40% off men’s denim, including Diesel and True Religion, 50% off select Canali, Armani and Zegna men’s suits |
| Old Navy | 60% off entire store |
| Sephora | Up to 75% off select items and free shipping |
| Timberland.com | 20% off plus free shipping on order of $100 or more with online promotion code WTR20SS |
| Walmart | Reduced prices on electronic games, office supplies, and $60 savings on select HDTVs |
Note: Most of these stores will be offering additional discounts. Many of these offers will last throughout the post-Christmas weekend.
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