What Happens When 50% Off is No Big Deal?
The biggest discounts in the history of retailing are taking place before our very eyes. Even luxury stores like Saks and Neiman Marcus are playing the game. If it’s full price, it’s on sale.
The other day I’m at Somerset with my kids are we walking by sweaters at Saks. The entire collection is 50% off and it’s right after Thanksgiving. Customers aren’t even interested at looking at them let alone buying them. A year ago they would have been snapped up.
If 50% is no big deal, what about 60%? What about 70%? We walked around the store and found just about everything on sale and customers seemed fazed and not motivated to buy.
Online retailers are offering free shipping on any size order and huge discounts. Consumers are being inundated with sales, special offers and the like as never before.
Here are my questions of the day: At what point is the discount big enough for you to make a decision to buy? Another question: Knowing the specific goods on sale now, can you buy them at full retail again later? And finally, what products will you buy at full retail price?
I know one product category that is doing very well at full retail price: Alcoholic beverages. As Jimmy Buffet says, "It’s Five O’clock somewhere!"
Happy Tuesday!
December 9th, 2008 at 10:14 am
When the price is 50 % off, I definately start thinking about buying. In fact, just Sunday I bought some things at Fashion Bug because the whole store was 50% off. If something gets to 60% or 70% off, that’s even better. And no, I can’t buy them at full retail later. Why bother if you know it will be on sale sooner or later. I can’t think of anything I will pay full retail for if there is a chance I can get it cheaper.
December 9th, 2008 at 11:18 am
I agree with Nancy. Before, we were use to paying full price but now in today’s economy, we are being shown that we have been overcharged all along. I am happy to go to a store where I know I need something, only to find it on sale. I walk out of the store as happy as a child in a toystore.
I love bargains!
December 9th, 2008 at 11:23 am
If it’s 5 o’clock somewhere, does that mean that Fred can nip freely on the bottle he keeps in his desk?
Just kidding, he got rid of that a while ago.
December 9th, 2008 at 11:46 am
50% off is not a deal if I purchase it using plastic and then pay interest on the purchase. Before I make a purchase, I decide whether it is a “need” or a “want.” Then I look at whether my budget will allow the purchase. If the item is not a “need” or an emergency item, I only purchase it if I have the cash. This year we have decided to focus on the kids for Christmas and my husband and I agreed on a spending limit for gifts for each other.
My husband is an engineer with GM. Needless to say, we are putting as much money as we can into savings so that we can survive if he becomes unemployed.
December 9th, 2008 at 11:47 am
It’s not the price of the product that matters, its the size of the bill in my wallet. If bills are due, NO discount is enough for me to buy unless its a necessity. And sure I’ll buy it at retail price, if not people couldn’t survive! The only thing right now I’ll pay retail price for is gas because there are no sales! But seriously if I can find a sale, that’s what I’m into right now.
December 9th, 2008 at 11:57 am
I was shopping last weekend at a mall and although everything said it was marked down 50% , I also noticed it was priced higher than the usual price –so 50% off what? I also hate the buy one get one 50% off-Wow a whole 25% off-and what if I only wanted one thing?
December 9th, 2008 at 12:18 pm
No matter what time of year it is you will always see me by the sale racks.
Yes!! It is about the need/necessity & not really the want, lately anyway.
This weekend I shopped as well & found great deals, polos for $2.99, sweaters for $1.99. What’s up with that?!! I’m not complaining!
When you have children that are constantly growing out of their clothes we always look for deals.
When I want to treat myself or my family I will buy at full retail. But that’s once in a blue moon. (-;
December 9th, 2008 at 12:38 pm
If the sweaters were ugly than the discount doesn’t matter.
Go to TJ Maxx, the same items are 50% off the Sax price at the regular TJ price. LBC baby!
December 9th, 2008 at 12:43 pm
Here’s a little spending trick – Buy holiday decorations after the holiday
and you’ll save a lot. Your decorations will always be a year behind but
for next to free, the deals are worth it.
December 9th, 2008 at 1:08 pm
I think that depending on what you are buying the discount, definitly comes in handy. I know alot of peps, that only buy discounted items. And I also agree with the deco deals…..
December 9th, 2008 at 2:12 pm
It depends on if its for someone or if its for myself… I don’t mind spending money on someone as a gift, but I feel soo guilty if i spend money on myself… (If i do, i usually hit the clearance section for me.)
Black Friday was a hit for me, first let me tell you, this was only the second time ive ever gone, first time i ever really spent money. I was up at 3am… in line at khols, (i hate lines, and crowds) BUT it was soooo worth it!! everything there was almost 70 to 80% off!!! and I focused ONLY on my family and friends… which was wonderful. I did splurge on a fluffy $7.00 blanket for myself. lol then target…. movies were $5 a piece!!! I got almost the rest of my gifts done there.
December 9th, 2008 at 2:51 pm
With so many retailers (Art Van, Khols, etc.) having their merchandise on sale contantly, what is “full retail” ??? We can’t go by MSRP, because that’s always inflated.
Discounts need to be big enough to help balance the huge mark-ups put on the merchandise.
December 9th, 2008 at 3:30 pm
For me to buy something right now, the discount would have to be at least 60 to 70% off. Knowing the specific goods are on sale now, you might buy it later at full retail value. I believe it would depend on the supply and demand of the product. What products would I buy at full retail price, it would be shoes. I can not stand for my feet to hurt because of uncomfortable shoes.
December 9th, 2008 at 4:08 pm
I agree with Odessa!! Shoes are probably the most expensive thing in my closet, and if need be, I will pay full price for them. I am always finding great deals, and probably haven’t paid full price for something since I was living at home.. and that was my parents money! Having children really made a difference in my spending habits also. 50% isn’t to bad, but 60 and more is what really gets me
December 9th, 2008 at 9:03 pm
The thing is people aren’t fazed anymore. Sales are ALWAYS going on. There is no special time of the year anymore for people to go shopping and feel that electric thrill of getting a “good” deal. Now there is ALWAYS a deal so when you see a holiday sale “what the big deal” no pun intended. A sale is a sale is a sale. Then on top of it all we are in a financial crisis. Give me something to really get me excited and I will buy regardless. But its all the same and therefore no excitement. If you had Christmas everyday would it be exciting forever? Not likely
December 10th, 2008 at 8:46 pm
Question is- and always will be- wether full price- 50off or free how long will it be before it all ends up in a garage sale for 50 cents.