Experts offer holiday shopping tips as consumers feel the squeeze from inflation
NEW YORK -- We're just a little over a month away from Christmas and shoppers are feeling the squeeze from inflation, but is it changing the way they shop?
"I'm not really looking forward to Christmas shopping. It's gonna be expensive," shopper Carrie Neville told CBS2's Dick Brennan.
"I may have to cut back on exactly how much I'm going to spend and who I'm going to spend it on," Mount Kisco resident Michael Barnes said.
If you will be bargain hunting, like so many, you should know it is no longer all about Black Friday, according to experts.
"It's almost a national tradition, but you really don't need to do that anymore. A lot of the big retailers are having sales before Black Friday or the double Black Friday sale," said Caleb Silver, of Investopedia.com. "You don't have to rush into the store like everybody else."
So does that mean Cyber Monday is now the choice over Black Friday? Maybe not.
"It kind of just comes down to however you prefer to shop. There may be some deals that are online only or in-store only, but a lot of retailers have moved away from those, so I wouldn't count on that being an issue," said Julie Ramhold, consumer analyst with DealNews.
Our experts say whatever you do, make a list, have a budget and really try to stick to it. If you let your fingers do the spending, beware of what's in your cart.
"It can be really easy to kind of rack up putting items in there and not realize how much is in there until you go to check out, and suddenly you've spent way more than you intended," Ramhold said.
What about those rewards cards or loyalty programs, some that can give up to 10-20% off if you sign up?
"That can be a very good idea, but be careful if they're issuing credit cards or accounts that go with those loyalty programs because those fees can rise over time as credit card rates rise, so keep an eye on that," Silver said.
What about that one person who is impossible to shop for? Well, how about an experience like a Broadway show or a Yankee game?
"If you have someone that kind of just has everything already or they tend to shop for themselves, then probably buying an experience is gonna be a good way to go," Ramhold said.
The best money-saving advice: shop early and not too often.
