Bargain Hunting: Here Are The Best Seasons To Buy Things In 2018
Shopping is like a combination of math and science, they come with patterns and formulas which can be deciphered; just like how sales and promotions follow a cycle. Awareness of the trends that influence these cycles will help you determine when it’s best to shop.
According to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions, consumer confidence in the Philippines surged to number one with a 13-point increase to 132 index score in the second quarter of 2016.
With strong domestic consumer sentiment, ranking top three in the past number of years, it is expected to continue in this trajectory for 2018 as well. However, without a prudence spending strategy, this can lead Filipinos down a path ridden with debts.
Knowing when and what to buy are the keys to saving money on your purchases. The seasons of the year are indicators for consumers on what will be sold for less and what aren’t! As seasons and trends change in a given month of the year, pricing of any items can change significantly.
Here’s our ultimate guide to shop smartly and stretch your pesos:
Furniture – New arrivals hit the showroom floor every February. This is why you see many furniture stores having sales in the first month of the year to make room for their new stocks. You can expect to see drastic price cuts on all remaining inventory, so if you are looking to spruce up your home for the New Year, this month is the best time to shop for new furniture.
Gym membership – Despite fitness being an overrated New Year’s resolution, it is actually easier to achieve at the start of the year because fitness establishments usually target New Year Resolutioners by offering discounts on their membership fees.
Television – The Super Bowl held in January in the US typically drives the prices of HDTV to rise in the US. The month after, the unsold stocks are sold at a lower price overseas as in the Philippines. This also coincides with the launching of new TV models by TV manufacturers during springtime in the US (March, April, and May). This places February in a sweet spot as the best time for Filipinos to shop for a new TV, as electronic stores slash prices to clear their old stocks.
Travel packages and plane tickets – February is a low season for travel because it’s when all the holiday vacation hype dies down, and before the summer vacation craze begins. Airlines will typically offer promo fares more constantly during this month for flights scheduled in the summer, which isn’t far off. So, if you’re planning to have a summer getaway, you better start looking out for promo fares this month.
Luggage – For the jet-setters, this is the best time to buy luggage as it’s the last leg of the off-peak travel season. Prices tend to skyrocket when summer starts (April), so buying one during vacation season can be least favorable to your budget.
Chocolates – March is post-Valentine’s season, leaving stores with excessive stocks of chocolate. If you have a sweet tooth, you can stock up on chocolates this month. You can even get some as gifts for the next few months.
Home and living – It’s during this season that families usually spruce up their homes because it’s vacation period for students and generally the start of summer season. While holiday getaways are common during this period, so are home renovations and re-decoration for most Filipino households to set the mood for the summer. During this time, it’s common for home and living stores to offer discounts on their home improvement, appliances, furniture, wardrobes, and etc., on top of their installment plans.
School supplies – A month before the start of the school, thus it’s the perfect time to stock up on your child’s school supplies and books. Back-to-school sales are also common during this time, making it a reasonable time to prepare for the upcoming school year.
Laptops – Affordable laptops designed for students will also be abundant during this month in preparation for the back-to-school season. Apple for one has their own back-to-school themed sale called Apple Education. They give out better deals for students and educators when they purchase MacBooks or tablets.
Cars – Though June isn’t really known as the month for the best car deals, 2018 will be an exception to the rule. Due to the implementation of the TRAIN law, luxury cars worth ₱4 million pesos and above will be taxed less than they were in the previous years, making them less expensive starting June. In fact, Volvo Philippines is optimistic that their sales of luxury cars will go up mid-year as more models are launched.
Air-conditioners – It’s off-season for air conditioners as June marks the start of the rainy season in the Philippines.
Refrigerators – New models come out in the US around May, and these new models usually get rolled out outside the US a month after. Expect some of the last year’s models to be discounted then.
Vacation packages and plane tickets – July is post-summer vacation, hence, airfares and travel packages are usually cheaper.
Stocks – Contrary to Chinese beliefs, despite August being the hungry ghost month, it doesn’t necessarily bring bad luck if you know how to take advantage of it. For long-term investors, this is actually a great time to buy blue-chip stocks that are dropping due to the temporary weakness in the market. This month is called a ghost month in investment because stock prices are usually down around this time.
This also coincides with the last leg of summer vacation in the UK and the US. With both things happening at the same time, and investors are more involved in observing their tradition or away for vacation, they tend to focus less on their investments. This means institutional funds become less active in the market, and hence, stock prices dip during this period and present a potentially good time for investors to buy stocks at lower prices.
Wine – Since harvest season of imported wines usually starts around August, expect some price drop on wines in the Philippines around this time as more imports come in.
Christmas decors – The start of the -Ber months in the Philippines signifies the beginning of Christmas preparation. Although not all stores have put up their Christmas decors by this time, those who do will usually kick off the -Ber months with discounts to get people in the mood for Christmas.
Appliances – September is the time when major appliances brand release their latest models. For countries outside the US, it’s usually only in the months following September when they hit the market. When they do, it’s the perfect time to buy models from the previous years.
iPhones – The latest iPhone models are usually unveiled in September and launched a few weeks later. However, for countries outside the US, it usually takes a month or two to hit the shelves. For the Philippines, the latest iPhones are normally released in November, making it the perfect time to upgrade to the less recent iPhone models.
Electronics and gadgets – Black Friday and Cyber Monday are two dates that you should look out for as electronics and gadgets get a major price drop during this time.
Car – Car companies during this time will mark down the prices of their older vehicle models as they introduce their new ones by the end of the year or at the start of the upcoming year.
House – Since December is the peak season for OFWs homecoming, real estate companies offers more discounts on their real estate properties. Thus, making this the perfect season to shop for properties whether or not you’re an OFW
Being a wise spender entails being one step ahead of your expenses. Doing that requires planning on when and how you will spend on your needs and wants. If you want to spare every penny that you could on most (if not all) expenses throughout the year, mapping your purchases based on this calendar will give you a good start. Planning ahead will allow you to forecast your expenses easier because you can sort out your priorities early. This, in turn, will make your budget easier to draft. Spend wisely by knowing when to shop and when to hold on to your money!