The day after Thanksgiving, otherwise known as Black Friday, is the beginning of the holiday shopping season, however this year you may be too late if you wait until Black Friday to start your holiday shopping. With widespread supply chain disruptions and labor shortages continuing, procrastinating on purchasing some gifts – especially toys and electronics – could end up being detrimental to your wallet according to USA Today.
Consumer demand and availability are two main factors that have prices increasing. Laurie Schacht with Toy Insider says, “The biggest wildcard of the holiday season is product availability, so you might be out of luck if you wait too long to buy a hot toy from a kid’s wish list. Shopping for holiday gifts in October may seem like something only the overachievers do, but this year it will be essential to finding those coveted toys in time for the holidays.” This year, 37% of shoppers already began their holiday shopping in August and September.
Some tips to getting started and shopping smart this holiday season according to USA Today are:
- Shop early sales for limited inventory
- Use programs like Target’s price match guarantee
- Save receipts and check return periods
- Set in-stock alerts
- Watch Facebook groups for deals
Getting a jumpstart on the holiday shopping may not only help your wallet but it might also help you get the highly desired hot items for 2021.