For shoppers looking to save money, this week is their chance to take advantage of the most number of deals.
According to Savings.com’s analysis of more than 10.6 million retail deals, the week of July 13 marks the year’s peak for major product categories such as apparel, beauty, home and garden, health and wellness and food.
Researchers at the site found that this week will see over 66,000 deals in apparel and accessories. Home and garden is pegged to reach 31,000 deals, while beauty and skincare retailers and brands will drop more than 27,000 deals. Health and wellness is expected to see over 22,000 deals, which is the category’s busiest shopping week.
As Beth Klongpayabal, business analytics manager at Savings.com and author of the report, said the biggest takeaway “is that shoppers who plan ahead and buy outside of the traditional shopping calendar can save big. The timing trends are driven by retailer inventory cycles and promotional calendars, which affect both online and in-store pricing. In-store shoppers sometimes find additional clearance markdowns or store-specific ‘manager specials.’”
Klongpayabal and her team of researchers said the analysis debunks some myths and assumptions about promotional activity and consumer behavior. The first is that Black Friday is the best time for deals.
When looking at all 12 months, June and July are the most saturated with deals across the widest range of categories. “Black Friday still shows strong activity, but it shares that intensity with a summer window that most shoppers aren’t even paying attention to,” the report stated.
And by week, Cyber Week ranked sixth of all weeks for deal saturation. “It actually outperformed Black Friday in terms of deal frequency, but it still couldn’t match any of the summer weeks in the top five,” the report stated. Klongpayabal said seven of the 10 highest-volume weeks fall between June and early August and only two holiday-affiliated weeks broke into the 10, “and neither one claimed the top spot.”
When the researchers then asked what’s really happening on Black Friday, they found that the data points to a provocative conclusion. “Black Friday is when attention peaks, not when deals peak.” As a result, retailers don’t need to flood the market with promotions in November. The promotional push needs to happen earlier in the year, when retailers and brands need deals to create demand.
Another myth that was debunked is that post-holiday sales increase in January. But the data tells something else. “Deal volume actually declines from December into January and continues to fall into February,” the report stated. “The post-holiday period doesn’t represent a second wave of promotions. Instead, it marks the lowest ebb of the retail promotional calendar according to our data.”
