Cyber Monday (Nov. 28) is a great opportunity to save money if the deals match your shopping. So what’s likely to go on sale? Here's how to make the most of it.
The Monday following Thanksgiving, known as Cyber Monday, has historically been a one-day, online-exclusive sale event. But now, as Black Friday, Cyber Monday and other holiday season sales increasingly expand and blend into one another, it’s becoming more difficult to resist the constant pressure to shop.The Monday following Thanksgiving, known as Cyber Monday, has historically been a one-day, online-exclusive sale event.
“Retailers have been extremely cautious with supply chain issues, and it looks like they’ve stocked up quite a bit. So I think if everybody continues to do that, we’re going to see large category-level sales,” says Jay Klauminzer, CEO of Raise, a discount gift card marketplace. Check retailer announcements for updates on what will be marked down, and watch for deals early. Some retailers plan to launch cyber sales before Cyber Monday officially lands. For example, Kohl’s Cyber Kickoff event starts Saturday, Nov. 26, and Macy’s M Cyber Monday sale runs from Nov. 27-28.
“Comparison shopping is still always going to be your best friend,” says Chris Costello, senior director of marketing research at Skai, a marketing platform. Make a list of everything you plan to buy and set a spending limit before shopping. Knowing how much money you have coming in and going out each month will help you identify an amount you can realistically spend without compromising your emergency savings or racking up debt that you can’t pay off immediately.
“Throwing it on your credit card bill thinking you’ll get to it eventually and ending up paying 25% interest over time and it takes you two years to pay it off, that’s where consumers start to get into trouble,” Klauminzer says.Resist the urge to buy everything immediately As short-lived as holiday deals may seem, take comfort that Cyber Monday won’t be your last chance to score discounts. Some retailers stretch out Cyber Monday savings into a full Cyber Week.
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