Mighty Bargain Hunter

Your 2007 holiday shopping survival guide

November 7th, 2007 | by mbhunter |

Wal-Mart got into the holiday spirit at the beginning of October, well before the jack-o-lanterns got packed away, announcing that it would be cutting prices on popular items this year. As we drove back from my parents’ house over Columbus Day weekend, we stopped at a Wegman’s in northern Pennsylvania. Their Christmas trees were already up. The store put a sign up that half-apologized for the early Christmas displays, but said that some customers like to shop for the holidays a little earlier. That may be true, or it could be seizing the opportunity to make Black Friday a little bit blacker.

This year has been hard for some areas of the country and downright devastating for others. Gas prices are shooting up, folks in the finance and homebuilding industry are losing jobs, ARMs are resetting and squeezing budgets. Retailers have always had to compete, but the competition will be more spirited because customers are more tapped out. Wal-Mart has even threatened legal action against people who disclose Black Friday pricing information before November 19th (scroll down to the October 18th, 2007, post on BFAds.net). This time of the year is serious business and letting the cat out of the bag too early can put the store at a disadvantage.

Last year I prognosticated what might happen during the Black Friday stampede this year, but in any case here is your 2007 holiday shopping survival guide:

• Hopefully some of your shopping is already done. I know people that get their shopping for the holidays done throughout the year as they find good gifts for their loved ones. In this case it’s really easy to circumvent the pandemonium altogether. Congratulations! (But if you didn’t get what you wanted to give yet, read on.)
• Consider whether you really need to go shopping that day. Amazon.com and eBay are just a mouse click away.
• Prioritize and budget now. I’m not going to tell you how much to spend. It’s more important to get an amount in mind that’s doable for you and your family before the smorgasbord is rolled out, so that you can pick and choose.
• Really, really think hard about going further into debt this time of year. I’ve managed a blog carnival on this subject for over two years, so I’d be booed and hissed if I failed to include this. Financing for big-ticket items will be super-easy to get. Beware.
• Expect to be tempted by unbelievable deals. I think retailers are not only going to pull out all of the stops, they’ll also drill a few more holes in the tank Thursday night. I have no clue what kinds of deals will be made, but these will lure people into the store. It’s easier to overspend once you’re in the store.
• Factor in your time. The whole freezing-your-butt-off thing. How much is a lost night of sleep and a weakened immune system worth? (You might get free coffee out of it, but you can also brew your own in the cozy comfort of your dewlling.)
• Learn well the return policies, young Jedi. The goal of retailers is to get as much product out the door as they can, and take as little of it back as they can. It’s of course very easy to buy stuff, but return policies are getting stricter, shorter, and more costly in terms of restocking fees and headaches. Keep on top of these details as much as you can so you’re not unpleasantly surprised. (Learn, or learn not. There is no try.)
• If your best efforts fail to get X for your darling chlid, please don’t pay more than retail online. If the item is really popular, the manufacturer will make lots and lots of them. You may not get it in time for the holidays, but rest assured that you’ll be able to get it later. Just snap a picture of it, put the envelope under the tree or wherever with a note saying that it will be purchased before January 31st, 2008, or something like that. The flip side of this is also true: Be smart if you want to be the seller of the popular item. If you buy something just to resell it, the buzz may wear off before you can list the item. You may end up enjoying the item yourself or selling it at a loss, so be prepared if you play that game.
• Ask yourself if you really need any more stuff. This is an extreme take on holiday shopping but the holidays are a great time to go on a missions trip or to donate your time to less fortunate folks. Use what money you would have spent to help others. This has many benefits, one of which is that you end up staying well away from the stores.
• Be safe! I’m serious. Putting yourself at risk just to get a $100 computer or a $50 camcorder or whatever is dumb. If things get ugly, run. Please. (And make sure you have fresh batteries in your light saber.)

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