Back-to-School shopping season is here! At least that’s what all the big-box stores want you to think.
For many young students it’s a major bummer. Don’t remind them that summer vacation is shrinking away!
Busy parents see a chance to cross something off their to do list. It’s a way to beat the crowds, cash in on early-bird deals, and get ahead of the game.
If the back-to-school shopping push isn’t enough, maybe you’ve noticed some Christmas in July promotions. For instance Target is holding Black Friday sales at the end of this week with deals on electronics, toys and other items.
So is it a good strategy to shop early – or is there some sort of catch?
The short answer is that it probably depends on how much self control you have…
You see, those retailers have their own reasons for putting out back-to-school supplies, Halloween costumes and Christmas stuff earlier and earlier every year. It’s all about getting you in the door.
Brad Tuttle recently wrote about the retail tactic for the Time Moneyland blog:
“Pushing consumers to shop earlier is plainly good for business. Retailers know that many shoppers who earnestly try to get their shopping done well in advance to avoid chaotically buying everything on their child’s list the night before school starts will wind up shopping during the last-minute frenzy as well. So the stores get shoppers to buy early, and possibly often and late as well—and all along, while they’re shopping for school supplies, consumers are also checking out other tempting, non-school-related goods as well. It’s a win-win for retailers”
You know it’s true with the holidays too. Every year you plan to get it all done way ahead of time, but every year your heading out to the mall in the final days before Christmas to grab a few more things.
If you want to take advantage of those early-bird shopping deals you have to have the will-power to keep yourself from going back time and again only to face more temptations to spend.
Don’t assume early birds always get the worm either. Cameron Huddleston of Kiplinger.com says school supplies are probably a bad buying decision in the month of July.
“Don’t be tempted to start stocking up on notebooks, markers or other school gear. You’ll find deep discounts from major retailers in August.”
Huddleston also says that summer Black Friday sales usually don’t offer the same deep discounts that come with the real-deal in November.
Back-to-school shopping means big money for retailers. In fact, a marketing exec for Staples told USA Today that back-to-school shopping “is just another Christmas” for the office supply chain.
Last year Americans spent more than $55 billion on school supplies and clothes (according to the National Retail Federation).
Plue, Michale Niemera, the VP and chief economist of the International Council of Shopping Centers told Daily Finance that kids aren’t the only ones who need new stuff before school starts.
“The back-to-school shopping season is more than just for students, with some 7.2 million teachers and other school employees going back to work and among the pool of potential shoppers.”
The ICSC is predicting back-t0-school sales will rise by about 3% this year.
New technology means teachers and students need more than just pencils and folders. Now you may have to purchase things like flash drives and laptops.
Industry experts say kids as young as 5th grade are starting to bring smartphones, e-readers and tablets to school.
So before you start your back-to-school shopping, make a list of what you know you or your kids will need, put together a budget you can stick with, and don’t be afraid to hold your horses and wait a little while.
Enjoy your summer while it lasts – for crying out loud!
Image: photostock / FreeDigitalPhotos.net
Image: Jomphong / FreeDigitalPhotos.net
+Kasey Steinbrinck honed his writing skills as a TV producer and newspaper reporter. He now blogs on personal finance and the economy for Check Advantage. Visit the site today to find cheap personal and business checks including Quicken Checks and Nature Checks. Contact Kasey to request free content for your blog or website.
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Yeah, with many good discount in “back-to-school” seasons, we should be careful to buy what our kids need indeed.
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