Willis Report: Holiday Deals - New York News

Willis Report: Holiday Deals

Posted: Updated:

I'm one of the few who stayed home this holiday weekend and didn't shop the Black Friday sales (and certainly not the Thanksgiving day sales). I am always a little skeptical about how much these markdowns are really worth. When you consider that retailers mark down their prices over and over again during the holiday season, well, it stands to reason that jumping on the first sale may not be worth it.

And, analysis from the Wall Street Journal confirms my suspicions. A recent report broke down the numbers for a single item – a cashmere sweater and followed it through its many price configurations over the holiday season. The sweater starts with a suggested retail price of $50.00. Although it's worth asking who really buys the sweater at that price. My guess is not too many, if any. At the first markdown, the price gets cut 10 percent to $44.99. But hold the phone, the final discount price is $21.99, less than half the original price. Sounds like a good deal, until you realize that the retailer only paid $14.50 for the sweater. The average price consumers paid for the sweater is $28. And, that means that the retailer's gross margin, despite two big discounts, is 45 percent.

Unfortunately, most retailers don't tell you how much they pay for their inventory, nor do they describe how they bake their margins into original pricing. So, it's up to you to figure out whether you are really getting a good deal when you shop over the holidays. The good news is this: Smartphone apps can at least help you figure out where the cheapest price can be found for the item you are purchasing. RedLaser, ShopSavvy and Smoopa are three price comparison apps worth your time. RedLaser has now been integrated on Amazon.com.

Also consider shopping with a list. I know it sounds simple, but people who shop with a list and stick to it tend to spend less than others because they eliminate the impulse purchases and the "while I'm at it" mindset that can drive your credit card bill higher.

Don't get me wrong. I'm not a Scrooge when it comes to the holidays. I just don't want to pay anymore than I have to for the gifts I buy. I bet you're the same way.

Interact with Gerri on Twitter @GerriWillisFBN and Facebook for more information, or to voice your concerns and questions.

  • Local NewsLocal NewsMore>>

  • LL Cool J stays true to hip hop roots

    LL Cool J stays true to hip hop roots

    Friday, August 1 2014 10:38 PM EDT2014-08-02 02:38:22 GMT
    EXCLUSIVE -- LL Cool J grew and evolved from a hip hop artist out of Hollis, Queens, to a Hollywood TV and movie star. But he always stayed true to hip hop culture. We'd see him backstage at concerts just hanging out with us, so when I heard he was back in New York for the summer I had to find out why. I tracked him down to a Midtown Manhattan recording studio for this exclusive interview.
    EXCLUSIVE -- LL Cool J grew and evolved from a hip hop artist out of Hollis, Queens, to a Hollywood TV and movie star. But he always stayed true to hip hop culture. We'd see him backstage at concerts just hanging out with us, so when I heard he was back in New York for the summer I had to find out why. I tracked him down to a Midtown Manhattan recording studio for this exclusive interview.
  • Friday Night Live: August 1, 2014

    Friday Night Live: August 1, 2014

    Friday, August 1 2014 10:28 PM EDT2014-08-02 02:28:04 GMT
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: an exclusive interview with superstar LL Cool J, a helicopter tour over New York City, dishing on celebrity relationships, and sexier breakfast with Chef Mark Bailey.
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: an exclusive interview with superstar LL Cool J, a helicopter tour over New York City, dishing on celebrity relationships, and sexier breakfast with Chef Mark Bailey.
  • Central Park underwear run

    Central Park underwear run

    Friday, August 1 2014 10:16 PM EDT2014-08-02 02:16:48 GMT
    Raw athleticism streaked through Central Park Friday evening bared for a modest body of spectators. Two-hundred triathletes ran a skimpy 1.7-mile loop in their underwear to flesh out the opening festivities of New York City Triathlon weekend.Midriffs and tan lines rippled in the open air and a not-so-tighty finish saw the first male and the first female finishers undress the course in record time.
    Raw athleticism streaked through Central Park Friday evening bared for a modest body of spectators. Two-hundred triathletes ran a skimpy 1.7-mile loop in their underwear to flesh out the opening festivities of New York City Triathlon weekend.Midriffs and tan lines rippled in the open air and a not-so-tighty finish saw the first male and the first female finishers undress the course in record time.

FOX 35 Weather Authority

Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices