Monday, February 18, 2013
Is Presidents’ Day Just For Merchant Sales?
President's Day sales are widely hyped through television and print ads, but should we care about the "slashed prices" on mattresses, electronics and clothing?
Actually, President's Day, Labor Day and Memorial Day all have big buying patterns. There are things consumers buy on regular schedules based on how retail moves inventory. For instance, for President's Day, we see great discounts on appliances, housewares, bedding and mattresses. It's the kickoff to winter clothing clearance, as well. Labor Day is a wrap up of Back to School, summer clearance and the kickoff of Fall Fashion. Memorial Day sales and discounts center around spring clearance, summer gear and travel, and weddings/graduation type of items.
Basically what this tells me is that the sales that can be extended with a paid day off get people to shop. That extra day, time off to visit the store or seriously compare online, creates more serious shoppers. And the seasonal discounts add to the common sense to have the sale. We know the retailers take it seriously when they increase cash back for all of these events, too.
Because President's Day is the first big shopping sale of the year, retailers have a chance to offload products unsold from last year and shoppers have a chance to pick these items up on the cheap. To get the best discounts, shoppers should think about what items merchants are most desperate to sell, including winter clothing that needs to be cleared out for spring lines and electronics that need to be sold to make room for 2013 hardware.
February is a traditionally slow time for apparel stores, and the discounts typically reflect that. Winter items are slashed to clearance prices, "resort" or vacation wear boasts hefty discounts prior to Spring vacations, and stores are really just biding their time until warmer weather spurs shoppers to seek out Capri pants and light weight trench coats. Good deals are found throughout the month as retailers are focused on mainly getting rid of old inventory.
If you are lucky enough to have today off as a paid holiday take a moment remember why we celebrate Presidents’ Day. It is a day set aside in 1885 by President Chester Arthur as a day to honor the "father of our country, George Washington.”
All states celebrate a version of President's Day, but names and honorees vary depending on location. Many states have expanded the holiday to honor other presidents who were born or raised in their state.
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