Consumer Advocates Say Labor Day Sales Mean Definite Bargains, But Black Friday Remains Supreme
NEW YORK (CBSNewYork) - Shoppers looking for bargains this Labor Day weekend are in luck! Pre-Labor Day deals, combined with back to school markdowns and end of season clearance creates a perfect combination for savvy shopping this weekend.
But, as CBS2's Jessica Moore reported, money experts say while some items are hot, there are some you should wait to buy.
Everything from clothing to beauty products and electronics are on sale, with Walmart and Best Buy taking the top spots for best tech deals.
"Large appliances are another big one... Home Depot is taking up to 40% off. Lowe's is taking up to 35 % off. So, if you need new appliances, especially for the kitchen or the laundry room, it's a good weekend to go," said consumer analyst Julie Ramhold.
As for laptops, Moore asked if parents can still find deals before their kids get ready for the school year and remote learning.
"Absolutely. There's an HP Labor Day sale and a Lenovo sale," said Ramhold. "They're taking 60% off and 65% off, respectively."
But, for the best deals on laptops, Ramhold said to hold off until Black Friday, after Thanksgiving. That goes for anything you might need at home, where many people are spending most of their time during the coronavirus pandemic - and demand is high!
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"As far as things like mattresses, last year we saw some stores taking up to $1,200 off, and this year it's like half that," said Ramhold.
Speaking of home, that's where most of this year's shopping is expected to take place.
"This is a Labor Day like we've never seen before because there's so little foot traffic," said Jordan Goodman of MoneyAnswers.com. "So, what retailers are doing is putting a lot of their sales online."
That online shift can mean even deeper discounts if you follow this expert tip:
"The key thing for consumers is to use a code. Each retailer has a specific code for a Labor Day sale that can give you 40, 60, 70% off the regular retail price," said Goodman.
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Experts recommend shoppers make purchases using a rewards credit card, which will earn them cash back or airline points.
The bottom line: if the prize you're eyeing isn't more than 25% off right now - and if you don't really need it - consider waiting until Black Friday to complete your order.
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