Are you looking to make some big purchases? Should you get the latest appliances or the older models? If your goal is to save money, you’d be surprised to know how much prices change depending on the day.
Knowing what to buy at the right time may save you 20% without including coupons, maybe more. The secret is knowing when demand is low and buying right then.
We’re sure you’ll find these tips helpful, whether you’re updating your home’s appliances or run an arbitrage business.
First When, Then How Much
Supply and demand: pricing products isn’t very different from the markets. You can sell for more when there are fewer units available, and many people want to buy them. But when demand decreases, prices drop too. Otherwise, retailers would lose money by keeping these items in stock, maintenance fees included.
No matter the time you buy, it all reduces to two choices:
- You can buy appliances as early as possible. Prices may be higher, but you have more where to choose from.
- You can buy appliances later. Prices will have decreased, but if you are very specific with your requirements, then the model you want may already be out of stock.
But don’t worry. You don’t need insider knowledge to know when to get the best deals. Most of these appear on the same dates every year.
September and October
Right at the beginning of the fall, manufacturers prepare to unveil their newest products. Then, why is it a good time to buy when expecting so many sales?
If your interest is to sell the newest models, you should lower the price to make it more affordable. But at the same time, you don’t want the old ones to cost nearly as much, because then it would be an upsell, or it wouldn’t represent the value well.
Because they sell technology, appliances devaluate whenever new versions come up. Retailers will try to liquidate last year’s inventory by offering limited discounts.
By the end of October, the variety of units available starts to shrink.
But if a limited selection isn’t a problem for you, you may want to wait until mid-January. Some stores may delay new models for the winter, but right after the New Year, you can see some of the best discounts.
Any Holiday Weekend
Retailers like Home Depot, Lowe’s, or BestBuy have offers assigned to almost all holidays Columbus Day, the President Day, St. Patrick Day, Memorial Day, Fourth of July, Labor Day, or Black Friday.
Some people forget that, although big brands make these discounts, you might find similar goods in a smaller store. If you don’t look around and compare, you won’t know if the advertised offer is the best price.
End Of The Month
Retailers may want to sell out spare units at the end/beginning of the year, month, or week. Although there’s no such thing as the best hour or day to buy, these dates may give you an idea.
Since retailers used to work for commissions, some of them may negotiate the price.
-“How much time do you have to sell this fridge?”
-“If nobody buys during that time, would you call us and sell for a discount?”
They would prefer making something than pay for maintaining a low-demand product.
If you shop between September and November, you may find decent prices and models. But you may not get the latest refrigerators or ACs since fewer people need these in winter.
Right before summer, retailers introduce new fridges, coolers, and conditioners. And because of low demand, you may also find discounts for microwaves, ovens, water heaters, dishwashers, dehumidifiers, or washing machines.
How to Save Money on Appliances Online
Brands that are looking to create a customer list may offer lower prices on their website. Although you don’t need to sign up for their newsletters, online customers are worth more than the physical ones (so they can pay less).
Here’s what they’re getting from you aside from money:
- They may track your preferences to know how to advertise better.
- You might join their email list, and brand loyalty means more profits for the company.
- Other companies advertise on their page, generating ad revenue for the website volume.
If that’s not the case, you may still find lower prices in other ways.
Some retail stores specialize in selling at low prices. They find those deals for you, make sales, and get paid a commission.
Some browser extensions show you coupons available on other pages whenever you’re looking at a listing. Other platforms earn you up to 10% cashback when buying with them. Never miss a good deal again!
Does Cheaper Mean Better?
It may first look unreasonable why someone would charge less for the same product quality. But if you were the seller, you would lose much more money because of:
- Low demand. When your company specializes in seasonal products, it means alternating high volume with zero demand seasons. Bad timing may leave you with extra inventory after the fad ends.
- New models. Launching new products for a bit higher will lower the sales for the other versions. Would you pay $1000 for a fridge or $1200 for a new one that’s 30% more efficient? Sellers lower prices to avoid an excess of inventory.
- Overstocking. The end of the month is near, and retailers still have a few units left. To meet the monthly income objectives, they liquidate these products.
Should you buy now or wait a bit more? And should you get the best model or a more reliable, older one? Buying a 30% better product may not sound like a lot, but it may save money long term with lower electricity costs. New models have refunds available and guarantees in case the machine stops working.
Here are other ridiculous ways to save over 50% of your money:
- Buy opened-box appliances. Big retailers may not offer full refunds after the client has opened the box. They can no longer guarantee the quality of the item, even if they only used it for five minutes. If they have a few of these left, you could get the same product for even 60% less.
- Buy slightly-damaged appliances. We’re sure you think the same way. Just because your fridge has a scratch, it doesn’t mean you should replace the whole thing. You probably keep it until it stops working. You can get these on retail stores for 50% less. But unlike used appliances, these come straight from the manufacturer.
Lastly, don’t worry if you’re not at some of these “ideal” months yet. It will be harder, but that doesn’t mean you can’t find great deals if you need to replace your appliances right now.