Buying an expensive item can cause quite a dent in one’s savings and set one back on their financial journey. That said, come sale season, the same purchase doesn’t feel as indulgent. While getting a great deal can make the purchase feel rewarding, it is important not to rush into buying something at the first sign of a discount. Shopping during sales seasons requires strategy and patience to maximize savings, especially when buying high-price or big-ticket items.
Negotiate when possible
Some products might not go lower than a certain price. This does not mean one cannot try to find some additional discounts or negotiate the price with the owner. Negotiating can be a valuable strategy when purchasing high-value items. The potential for negotiation increases if the product has cosmetic damage, as this gives buyers more leverage, and since it is a damaged good, sellers are more open to discussions. Negotiations are a standard practice when shopping, and there is nothing to be embarrassed about if it helps save more on an already expensive purchase.
Plan ahead
One of the best tips for purchasing expensive items on sale is to avoid impulse buying. This is because most brands offer discounts at some point, so there is a huge possibility that one can snag that item for a great deal in a few months. Before one buys something, one should check the price tag on the item. Knowing the original price is crucial, as buying during the sale season or events without this information can make one regret the purchase. While a lot of brands genuinely slash prices, some brands increase the product price and offer a discount. So, one essentially ends up paying the same price. Sometimes, failing to compare the values of discounts on high-ticket items can result in paying more than necessary rather than getting a bargain. Having a general price range in mind and planning one’s savings helps. When the product falls within one’s budget and has a substantial discount, that is the right time to purchase.
Consider investing money
One can try shopping smarter, especially when planning to buy big-ticket items. If the timeline for the purchase is flexible, one should consider investing money. With a flexible timeline, it can be easier to accumulate enough finances to make a big-ticket purchase. Investing a certain amount of income can help one save for the purchase and earn profits on their principal. Investments can also help build compounding wealth over time, making it easier for someone to save for big purchases during the upcoming sales seasons. However, saving may be the better option if one does not have a flexible timeline. Having the money readily available when needed is generally more advantageous than relying on investments. This is because it might take some time for the invested funds to be credited back to your account, and you might not have the luxury of time.
Shop pre-owned
Try the pre-owned store to save on a big-ticket purchase during sale seasons. Shopping at thrift stores saves more money, especially when one is buying a luxury product or making an expensive purchase without any prior planning. One can join online groups that are legitimate. However, if one still doubts the legitimacy of online groups for pre-loved items, they can visit thrift stores or places that sell second-hand products.
In this case, it is important to be patient, as it gives one better leverage in negotiations and can result in further savings on a big-ticket purchase that would have otherwise cost more even during the sale season. However, before the final transaction, one should always check that the second-hand purchase does not cost more than a new one because of the possible repair and restoration costs.
Turn on notifications or bookmark websites
Regularly check a favorite luxury brand’s website for sales and special member discounts. Turn on notifications and bookmark the website so that one does not miss out on the deals. Add products to the shopping cart without actually going ahead with the purchase. Some brands end up offering an added discount to customers who abandon their filled cart for an extended period. Additionally, do not miss out on checking other retailers that frequently stock luxury goods or particularly shelve products from the desired brand. Check out brick-and-mortar stores as well to cover all bases.
Visit off-price retail stores
If one has failed to plan their big-ticket purchase ahead of time, checking with off-price retailers might be their next best option. This strategy is primarily effective for luxury clothing purchases but could also be beneficial for purchasing items such as home decor, appliances, and other electronics. These stores contact sellers who have stocked up excess inventories and are trying to clear some shelf space for the upcoming inventory. There is a chance that the luxury items one can spot here are from last season, but it certainly helps them buy the good ones after without spending too much during the sale season.
Consider going to private sales
Ask stores or luxury brands if they have any upcoming private sales planned. Signing up for a brand’s online newsletter can also help one find out if the big-ticket item they plan on purchasing is going on sale shortly. Private sales are a sure-shot way of approaching deals one would have missed otherwise. Check third-party sites that stock luxury items and keep a note of any flash sales. Keep track of price changes over time, both online and offline, to determine the best options.
These tips are a great guide to sale season shopping for expensive items, which can help one save money on major purchases.