Yahoo Finance I’m a Shopping Expert: Don’t Waste Your Money on These 9 Things This Memorial Day
Memorial Day is fast approaching, and that means a fun long weekend and endless sales. Consumers can save big bucks on everything from home appliances and cookware to mattresses. Since this is the first big summer holiday, there will be discounts on many items worthy of your purchase — but not everything is a good deal. GOBankingRates spoke with shopping experts who revealed which sales to avoid and why.
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1. TVs
Scoring a deal on a new TV is great, but it won’t happen over Memorial Day weekend, according to Ian Sells, CEO and founder of Million Dollar Sellers. “One Memorial Day sale that shoppers should approach with caution is for electronics, particularly TVs,” he told us.
“Often, the discounts on these items are not as significant as they appear. Many retailers use older models or inflate original prices to make the discount seem more substantial.”
Sells added, “If you want to buy electronics, wait until Black Friday or Cyber Monday sales later in the year for better deals. Waiting for those bigger sale events can result in more substantial discounts.”
2. Jewelry
While a good jewelry sale is tempting, timing is everything. Smart shopping expert Trae Bodge with Truetrae.com said it’s better to hold off. “You may find a deal here or there, but Mother’s Day and Valentine’s Day are better times for deals on jewels,” she said. “Black Friday/Cyber Monday and December can also be good times for jewelry sales.”
3. Personal Gadgets and Laptops
Don’t expect to find legit deals on tech gadgets and laptops, Andrea Woroch, Money-Saving Expert, revealed. “Waiting about a month after Memorial Day can offer bigger discounts on personal gadgets, laptops, and other tech gadgets.”
She explained, “For one, Amazon’s Prime Day usually falls around mid-July, offering big discounts on personal tech, TVs, and smart home devices. Plus, most competitors release their own sales during this time to compete with the online retail giant, like Target’s Circle Week and Walmart’s Deals for Days events.”
Woroch added, “Meanwhile, back-to-school sales will begin dropping at the end of July, making this a better time to scope out savings on laptops. Home office and other school supplies are also a better purchase during this shopping rush. Some states will offer no sales tax on select school purchases of school supplies, laptops, and even clothing and shoes in August for further savings.”
4. BOGO Clothing Sales
Gary Gray, co-founder and CEO of CouponChief, warned against being lured by buy-one-get-one-free sales. “I’ve seen this tactic used by many retailers, from Nike to GAP and Amazon, and it’s essential to understand why these deals may not be as good as they seem,” he said.
Gray explained, “During sales events like Memorial Day, retailers inflate the original prices of clothing items to make the discounts appear more significant. We’ve all seen this, but the allure of “buy one, get one” catches us off guard.”
He added, “Even though you’re getting a “free” item with your purchase, you’re probably paying more overall than if you had bought the items separately at their regular prices. This sneaky tactic preys on the excitement of sales events and can lead to shoppers feeling like they’re getting a great deal when, in reality, they’re not.”
5. Gift Cards
Everyone loves gift cards, but don’t buy them during Memorial Day, said Bodge. “At certain times throughout the year, retailers will offer discounts on gift cards, but Memorial Day weekend is not known for this, which is unfortunate because gift cards make great grad gifts! To look for savings, visit a site like GiftCardGranny where you can get up to $2.50 on gift cards for Nordstrom, Crate & Barrel, and Kohl’s.”
6. Father’s Day Items
With Father’s day coming up, it makes sense to shop Memorial Day weekend sales, but according to Sells it’s not the time to buy.
“Craftsman and DIY tools, like power tools and outdoor power equipment, are best bought closer to Father’s Day,” he explained. “The same is true for camping and outdoor gear (still catered to dads). Retailers increase promotions and discounts as the holiday nears, providing more substantial savings than Memorial Day sales. Additionally, items not sold during Memorial Day will likely be discounted further for Father’s Day, offering even bigger cuts.”
7. Summer Clothing and Swimwear
According to Bodge, Memorial Day isn’t the time to stock up on summer clothing. “You might be excited to grab a few things to freshen up your summer wardrobe, but while you will find clearance prices on spring apparel, summer clothing won’t be deeply discounted until closer to the end of the summer season.”
Woroch agreed. “Retailers will offer Minimal discounts of 10 to 20% off on summer clothing and sandals during Memorial Day but don’t take the sale bait. The real deals will roll out mid-summer, around the 4th of July, with bigger savings at the end of the season.”
She added, “Get by with what you have or grab a used option from resale sites like Poshmark. Plus, Victoria’s Secret’s Semi-Annual Sale has become a popular sales tradition with shoppers, which hits stores each June, where you can expect big savings on swimwear and lingerie.”
8. Outdoor Entertaining Essentials
Stocking up on outdoor essentials is exciting during the sales, but Woroch recommended waiting.
“Retailers know people have outdoor entertaining on their minds, and prices will be highest during Memorial Day. Even if you see a discount, these prices could be marked up to make a deal look like a better value. Unless there’s one of the select grills or patio furniture sets that is on sale is something you actually want, wait to make this purchase until later in the season.”
9. Cars
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If you’re in the market for a new car, wait! “Despite the hype around Memorial Day car deals, it’s usually better to buy at the end of the year, Sells said. “Dealerships offer significant discounts to clear out old models to make room for new inventory. This results in lower prices and better financing options for buyers.”
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This article originally appeared on GOBankingRates.com: I’m a Shopping Expert: Don’t Waste Your Money on These 9 Things This Memorial Day
