Holiday Shopping

Black Friday is the day after Thanksgiving- and the official beginning of the Holiday shopping season. Experts have estimated that as much of 90% of all retail revenue is generated during the Holiday season. I’d like to discuss Holiday shopping by examining the three primary sources for buying gifts:

1. Internet Shopping. Has increased exponentially since the late 90s.

1. Pros:

                                                              i.      Convenience- particularly for items where fit is not as important, e.g.:

1.      Toys,

2.      Music

3.      Books

2. Cons:

                                                              i.      If you choose to purchase clothing- will it fit?

                                                            ii.      Shipping times- you will need to order far enough ahead to have items arrive by Christmas.

                                                          iii.      Shipping expenses- factor shipping in when calculating price differentials with brick-and-mortar establishments.

                                                          iv.      Return policy- can be very difficult with e-tailers; not so with SuitYourself.com 

2. Malls/ Department Stores

1. Pros:

                                                              i.      Selection-Usually everything’s there

                                                            ii.      Return policies- Most difficult part here is determining which sale you bought it at and what the return amount should be

                                                          iii.      Good prices- retailers will slash regular prices by as much as 40%. I always ask myself in this situation why they didn’t do this in the first place?

2. Cons:

                                                              i.      Crowds- However, extended hours work to your advantage, Shop early or late.

                                                            ii.      Unskilled seasonal help. Most retailers will hire part time employees for the holiday season who aren’t as knowledgeable as the regular help.

                                                          iii.      Patronizing faceless nameless corporations. I prefer to buy from small independent businesses like those outlined below.

                                                          iv.      Security- Malls usually hire extra security for the Holiday, but more thieves come out as well (see Home Alone and Bad Santa).Be sure to:

a.      Remember where you parked your car

b.      If at night park it under a street light,

c.      Walk rapidly to your car

d.      Hold your keys in your hand and unlock your car quickly.

e.      Going early is best. Late means more risk.

3. Shopping at a Specialty Store. This experience is my favorite. I know I’m spending my hard-earned cash with someone who needs and appreciates my business.
   1. Pros:

                                                              i.      Better service- you’ll get better advice on timeless style from someone with more experience in whatever industry you choose

                                                            ii.      Fewer crowds

                                                          iii.      Prices often the same as at the malls with extended hours as well

                                                          iv.      Quality is better

                                                            v.      Almost always gift wrap

                                                          vi.      You can establish a personal relationship with the owner or a favorite salesperson that will extend beyond Holiday season

                                                        vii.      Selection- you’ll see different pieces from your favorite labels

2. Cons

                                                              i.      Selection- not as many overall things to choose from

                                                            ii.      Return Policy- Some independent stores have more stringent return policies than department stores

I hope what I’ve written above will make the Holiday Madness easier for you. Remember- you get gifts on Christmas morning too so it can’t be all bad.

One last bit of advice- makes a budget and stick to it. No one needs unpleasant surprises from credit card companies a couple of weeks after Christmas. If you use a credit card, pay it off in January.