Original Source: www.missourinet.com
As the joyous holiday season approaches, the weight of inflation is felt across shoppers’ wallets. To ease this burden, Southeast Missouri State University’s Economics Professor David Yaskewich shares valuable insights. He observes a shift in shopping patterns, emphasizing that the traditional Black Friday is now a distant memory, giving rise to extended sale periods that allow shoppers to snag deals over several weeks.
Professor Yaskewich highlights the enticing discounts that wait for eager buyers: home décor and cookware could see markdowns exceeding 30%, while tech gadgets and toys might drop by 20% to 30%. Clothing and furniture enthusiasts can rejoice in price cuts ranging from 15% to 20%. For those who enjoy a last-minute rush, there may still be time to nab great deals, especially as retailers often hike prices post-Thanksgiving, only to drop them again just before Christmas.
For shoppers considering “Buy Now, Pay Later” services—such as Affirm, Klarna, or Afterpay—Yaskewich recommends treating these payment options with caution, similar to how one would handle a credit card. He emphasizes the importance of using these services wisely to avoid financial strain that could lead to a precarious situation. Making a solid repayment plan is key to reaping the benefits without falling into debt traps.
To maximize savings, Yaskewich advises that shoppers should target their spending during the Black Friday and Cyber Monday frenzy, ensuring they capitalize on competitive pricing before the holidays arrive. By anticipating timing and deals, savvy consumers can maneuver through the sales like seasoned navigators, keen to discover treasures amidst the bustling marketplace.
As inflation continues to impact consumer behavior, insights from economists become invaluable. Understanding shopping trends and discount timelines equips consumers with the knowledge needed to make strategic purchases during the holiday shopping season. Experts, like Professor Yaskewich, help illuminate the nuances of retail pricing and consumer financing, enabling shoppers to maximize their budgets while navigating the complexities of the festive shopping landscape.
In the face of inflation, holiday shopping can still be a fulfilling experience if approached wisely. With a plethora of sales available, shoppers can find significant discounts on a variety of products. However, judicious use of payment plans and keen awareness of pricing trends are essential to ensure a joyful shopping experience. Armed with Yaskewich’s advice, consumers are better prepared to tackle this year’s holiday season with confidence and savvy spending.
