Started thinking about your holiday shopping yet? Research indicates that many people will purchase their holiday gifts early this year – really early, as in before Halloween early. If so, shoppers will be following last year’s pattern. In 2014, Google data and research indicated that 48 percent of shoppers finished their shopping by Cyber Monday. Twenty-five percent of that group finished by Halloween!
Retailers are responding by making it easier for early-bird shoppers. If you have been shopping recently, you probably noticed that Halloween skeletons were on display alongside Christmas wreaths. There is nothing like going from “Boo” in Aisle 3 to “Ho Ho Ho” in Aisle 4.
Retailers have already honed their shopping strategies. The big question is, have you? If not, there is still time. Here are several tips to help you control both your spending and your stress.
Establish a budget.
Determine how much you are reasonably able to spend this year and stay on target. Caution! Nearly $1 trillion of retail sales were ordered from mobile devices. Having purchasing power so close to your fingers can be dangerous.
Make a list.
List all the people you need to purchase gifts for and then divide your budget among them accordingly. Keep track of the dollar amounts and gifts purchased. Bonus – if you keep your list from year to year, it helps you remember what you gave everyone and eliminates duplications.
Go online.
The Internet is great for researching gift ideas. Last year more than 78 percent of people read user reviews, compared pricing and improved their efficiency by going online. One perk of shopping online is that many Internet retailers offer free gift wrapping or free shipping, which saves you both time and money.
The early bird gets the worm.
It is trite but true. The rewards of shopping early in the season are a better selection, less crowded stores and less stress. Later, while everyone else is running around, you can sit back and enjoy the eggnog.
Gift Cards.
The original one-size-fits-all gift! Gift cards are convenient, but that convenience comes at a price. Many cards have purchasing fees, service charges, transaction fees and expiration dates. It is important to read the fine print to determine if a gift card is the best gift you can give. If you decide the expenses are not worth the convenience, purchase an item at the recipient’s favorite store and include a gift receipt.
Before you know it, your shopping will be finished! Of course there’s mailing the holiday cards, attending the parties, decorating the house, baking the pies, wrapping those presents…Now, where’s that eggnog?