Shoppers look to January sales

Wednesday, 24 December 2008 04:03

More shoppers are waiting until January to start looking for bargains.

Last year 39 per cent of people told  a Halifax poll they hit the sales in January. This year 48 per cent say they will be searching for bargains.

Even though retailers have already been offering discounts in the run-up to Christmas to entice shoppers that are increasingly looking for value as the recession approaches, low levels of sales are likely to lead to large amount of unsold stock on shelves waiting for January sales.

Although more people will be hitting the high street this January, they will be expecting more bang for their buck.

On average, shoppers spent £122.40 in the sales last year, but 74 per cent of people say they will spend less this year.

This is unsurprising, as 70 per cent said in the poll that was was now tight and 54 per cent were worried about their finances.

Mike Regnier, head of banking at Halifax, said: "After spending in the run up to Christmas, it can make a welcome change to buy something for ourselves in the January sales. But, we often buy in haste because an item has been reduced, or as a result of the pressure to find a bargain.¿

Halifax's five top tips for New Year sales shoppers...

• 1. Set a budget
  Set a budget and make sure you stay within it, this way, you'll feel more in control of your finances and even more satisfied with your purchases.
  
• 2. Make a list
  A list will help you stay focused on what you need to buy and avoid you being distracted by other things that you don't need.
  
• 3. Consider shopping online
  Beat the crowds by shopping online, not only will you find some of the best bargains online but you may also avoid the temptation of buying more than you need.
  
• 4. Do your research
  It is always best to do as much research as possible - either by checking prices online or comparing different products, you can be sure that when you finally buy your gifts you bought it for the best price.
  
• 5. Use free car parking
  Why not save money on car parking by visiting large shopping centres or retail parks to take advantage of their free parking. You could even go one step further and leave the car at home; by using public transport you will not only save money on petrol but you'll also avoid the busy congestion on the roads.  

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