How Price Anchoring can Make You Pay More [Shopping Secrets]

January 30, 2012 By Leave a Comment

List price is for suckers. Nobody pays the Manufacturer’s Suggested Retail Price (or nobody should, anyway), but by listing the MSRP at all when you’re shopping, retailers insert a figure in your mind that you’ll use as a starting point when you evaluate the price of the item. This little trick is so widely used in marketing it’s not even funny. It’s called price anchoring, and it’s all about the power of suggestion. Anything below the MSRP (the “anchor”) suddenly seems like a reasonable price, even if it’s not.

Here’s another way price anchoring can make you pay more than you should. You see this one when you sign up for cable TV and when you consult the wine list at a restaurant during date night, as Bradley Gauthier points out in the article I’ve linked to below: You’re presented with three or four options at different price points, be it different wines or different cable packages. You automatically rule out the most expensive, and you generally don’t pick the cheapest, either, since you assume it’s not up to your standards.

Instead, most of us pick the second-cheapest options. Marketers know this, and price their items accordingly. They know nobody’s going to buy the most expensive item, so they can put a crazy high price on it. Since it’s there, though, it sets a price threshold in your mind that’s higher than it should be. Again, anything cheaper than the most expensive item suddenly seems like more of a deal.

Want to know how else priced anchoring affects your shopping? [Read more...]

Filed Under: Deals & Sales, Shopping Secrets

10 Best Baby Products of 2011

December 31, 2011 By 3 Comments

Which baby products are definitely worth buying? Ask the masses!

Yesterday I asked BC Facebook Fans to give me their nominations for “Best Baby Product of 2011.” Here are the ten baby products that made fans’ lives easier this year (listed more or less in order of popularity). I’ve linked to each product at Amazon so that you can find out more about it.

And great news! 7 of the top 10 items below are around $50 or less.

Runners Up: Medela Pump in Style Electric Breast Pump, Sophie the Giraffe, Beco Butterfly 2 carrier, Fisher-Price Jumperoo, Wubbanub

If you take a look at last year’s list of top products, you’ll see that this year’s list features some repeat performers as well as some new items.

What would you add to the list?

Filed Under: Deals & Sales, Parenting Guides, Shopping Secrets

Winter Online Clearance Sales: What to Expect from Your Fave Stores

December 20, 2011 By 1 Comment

Welcome, MSN Money Readers! Click here to learn more about BC.

With Christmas just days away retailers are itching to close out the holiday shopping season and move into “spring preview” mode. Believe it or not, those of us in warmer climates can look forward to seeing swimsuits show up at Target during January. Brrr!

To make room for new items, stores need to clear out the cold-weather merch. In fact, several winter clearance sales start this week, making the days just after Christmas a fabulous time to stock up on kids’ cold weather wear for next winter. Read on! I’ve got the who, what, when and where to help you make the most of winter clearance.

The following sales are already on:

  • The Children’s Place has up to 65% off holiday clearance right now.  The Monster Sale should begin any day. Last year it started on 12/22 and went to “extra 30% off” on 12/28. Discounts should go to 50% off shortly after January 15.
  • Crazy8.com has 25% off everything until Wednesday. They’re not calling it a clearance sale, but we know it is.
  • Gymboree.com‘s clearance sale is already on, with 25% off all regularly priced items.
  • Hanna Andersson‘s Twice Yearly Sale just started.
  • BabyLegs.com just kicked off their clearance sale. Save75% when you spend $75 or more with code JOLLY75 through 12/28.
  • 77Kids.com is taking an extra 30% off clearance for savings of up to 70%. Free shipping right now, too.
  • Swaddlebees.com‘s clearance sale is on. Don’t be surprised if they offer a coupon in the next few days for even more savings. That’s what they did last year.

Last year’s sales:

Sales are pretty predictable. Most retailers repeat the sale they have every year with a few tweaks. Here’s what we saw last year:

Note: some winter clearance sales are already on, but stores aren’t publicizing them much right now. Check to see if that’s true for your favorite store.

Clothing

  • Expect the best deals on kids’ winterwear just after the holidays and continuing through March. This is a great time to stock up for the following season. Several big post-holiday sales actually started before Christmas last year.
  • OldNavy.com: Sale usually begins the day after Christmas. Look for 50% off winter items. Should go to 75% off the second week of January and up to 90% off by the end of January.
  • Gap.com‘s clearance sale runs at roughly the same time as Old Navy’s. Look for items up to 60% off during their Holiday Sale, going on now.
  • Macys.com has a store-wide clearance sale the first week of January.
  • DisneyStore.com‘s Twice Yearly Sale started during the last week of December last year with up to 70% off.
  • Osh Kosh and Carters start their online winter clearance sales shortly after the first of the year. Sales will run at least through mid month.
  • Kohls.com had marked their winter clearance stuff 60% to 80% off by mid January.
  • Nordstrom had hot clearance deals on clothes and shoes during their Winter Savings Event in week two.

Shoes

  • Amazon usually runs a shoe clearance sale in early January with lots of great deals on kids’ shoes.
  • Shoes.com released both an extra 20% off clearance and extra 25% off clearance coupon last year in January (in that order). Right now Shoes.com has 20% off site wide with code HOLIDAY20 (ends 12/21).
  • ShoeSteal.com usually takes up to 75% off kids’ shoes during  the third week of January. They’ll probably offer a coupon code to go along with it.
  • Pediped.com‘s Purchase for a Purpose sale usually starts at the end of week 1. Save up to 50%.
  • Robeez.com has run a sale with up to 50% off during the second week of January for the past two years.
  • See Kai Run had a 50% off boot sale during week one last year.

Baby Gear

  • Fuzzibunz.com‘s cloth diaper clearance sale started in mid January last year.
  • Target‘s end-of-season baby clearance started 12/31 last year.
  • BabiesRUs.com had a “Free for All” clearance sale at the start of January. Deals included $20 off any car seat $99.99 or more, and $20 off any stroller or travel system $99.99 or more.

Toys

  • Expect LeapFrog.com to offer a high-value coupon code and/or free shipping deal shortly after Christmas.
  • Target‘s clearance toys were 75% off by 1/10 last year.

Photo Prints, Books and Gifts

  • On 1/6 last year, I posted that Snapfish.com had released a coupon code for 40% off winter clearance. The code was good through 1/16. Snapfish also ran a 50 prints for 50 pennies sale at this time.

Shopping Tips

  • Don’t see your favorite store on the list above? Try Googling “winter clearance” plus your favorite store to pull up posts about last years sales. Check the dates in the posts to see when you can expect the sale to start.
  • Before the sales start, make a list of items you’re interested in purchasing. Take a look around at stores and become familiar with items you’re interested in buying. You might even bookmark the items. I like to buy all my son’s winter clothing for next year between now and March, including next year’s winter coat, fleece sweaters, hats and gloves, winter pjs, and jeans. I try to buy when they’re 40% off or more.
  • Before you buy, be sure to Google the name of the store plus “coupon” to see what’s out there in the way of discounts and free shipping codes.
  • Remember that winter clearance sales happen at kiddie consignment stores, too. Call your local stores to see when theirs are.
  • Keep track of what you buy. I box up my winter clearance bargains, label the outside of the box with what’s in there, and pop the box in the top of my son’s closet. As fall approaches, I’ll take it down and go through it to remind myself of what I have before I buy anything else.

What are your best winter clothing clearance shopping tips?

Filed Under: Shopping Secrets

How to Haggle Your Way into Holiday Savings [Shopping Secrets]

November 16, 2011 By Leave a Comment

Most of us have a little experience with haggling, whether it’s buying a car or a house, or scoring some deals at a great garage sale. Did you know you can successfully haggle your way into savings at the mall and at retail stores?

I’ve read lots of articles about how haggling for retail goods really works, but I guess I’m a shrinking violet because I’ve never tried it. It seems like I’m not alone. Yesterday on BC’s Facebook page I asked readers if they had tried haggling at a retail store. 58% of the folks who responded said they hadn’t tried it. But you know what? Of those who had, ALL had been successful.

You’ll see a similar statistic in articles about haggling. The majority of shoppers who have the gumption to ask to ask for a better price, get one. My interest piqued, I pored over recent articles about haggling to find out how it’s done.

Here’s how haggle your way into retail savings.

Understand This Before You Shop:

First, understand that prices aren’t set in stone even though it may seem that way. It’s also important to realize that you’re not going to upset the salesperson or manager if you ask for a discount. As MainStreet.com contributor Matt Brownwell states in his Ultimate Guide to Haggling, “Retailers mark up a product considerably over its wholesale price, which means that even when you factor in the costs of operating a store, there’s still plenty of room for a retailer to discount an item and still turn a profit.” And that’s what salespeople and managers are there to do. They can generally still make a profit if they offer you that  extra discount. And if that’s what it takes to make a sale, that’s what they’re probably going to do, says Tory Johnson at ABCNews.go.com.

And what if the item you want is already on sale? Don’t think that there’s no way a store will go lower. Bob Frick of Kiplinger.com says that “Sales are signs that a price is no longer fixed.” That said, don’t expect stores to cut prices in half. Though you may get luckier, figure on saving an extra 10% to 20% off the price on the tag. Considering that shoppers spent an average of $811 on holiday purchases last year, according to Time magazine, 10% to 20%’s not chump change.

Haggling dos and don’ts:

  • Consumer Reports suggests focusing your haggling efforts late in the month when salespeople are working hard to meet sales quotas. Another great time to try is when sales are slow. During the holidays, you’ll probably have the best success if you wait until late in the season when stores start to get antsy about holiday sales. Black Friday will be too busy and the store will probably feel its discounts are low enough already.
  • Start your negotiations with sales floor team member or salesperson. If you don’t have any luck there, go higher up. Don’t go straight over the salesperson’s head at first, however. It’s insulting to the employee and can make it harder for you to get the deal. Keep in mind, too, that Employees at small stores may have more power to change prices than those at the big chains.
  • Be respectful and avoid negativity when dealing with store personnel. You want to seem friendly and confident (but not pushy). Don’t draw attention to your haggling efforts, says Consumer Reports.
  • Be low key and try not to attract attention to what you’re doing. The person you’re dealing with won’t want to offer the deal to everybody in the store.

What to say:

  • Compliment the item and talk about how useful it would be to you. Tell the salesperson or manager what your budget is and see what happens. Above all, be polite.
  • Ask when the item will go on sale. They may tell you, or discount the item by the future sale discount amount to get you to buy then.
  • Ask questions directly, says Kiplinger, “Could you do better?” “Is there a coupon for this?” Credit Karma suggests asking the salesperson, “What would you do in my situation?”
  • Offer to pay in cash. That’s appealing to stores because it’s a sure thing, and because they won’t have to pay fees for credit card transactions.

Try these techniques:

  • If the box or package is missing (i.e. floor model), open, dented, missing instructions, or otherwise imperfect, ask for a discount on those grounds. The same goes for “scratch and dent” items. (Kiplinger.com)
  • Even if a store doesn’t advertise that they price match, it doesn’t hurt to try. Don’t tell them that’s what you want, though. Credit Karma suggests asking for the discount first, and pull out your info if you need to. Show the salesperson or manager a price you found online or at another store.
  • Try haggling for better deals on perishable food items like bakery items or meat that are close to their expiration date (Kiplinger.com)
  • Discontinued or clearance items may be easy targets for successful haggling because the store wants to get rid of them. The same is true for end-of-season items. You can probably get an extra discount on Christmas stockings, for example, right after Christmas.
  • Offer to buying in bulk. Tell salespeople you want to buy a case of something instead of one or two. The extra volume means stores can make up losses from the discount they give you (MainStreet.com)

And a final caveat: You might have a hard time if it’s one of those stores that tries to get you to sign up for a credit card (like Macy’s or Kohl’s, for example). Because salespeople gain from the number of sign ups they process, they may make it a prerequisite for any discount they’re willing to offer, says MainStreet.com.

Read More:

So what do you think? Want to try haggling next time you go shopping? If you do, let me know how it turned out!

Filed Under: Deals & Sales, Frugal Living, Shopping Secrets

How to Pick Toys with Staying Power [and Avoid the Duds]

October 25, 2011 By 1 Comment

We’ve all done it, bought toys that looked really fun only to see them languish in the toy bin collecting dust. What’s the difference between a toy that’s forgotten the day after it’s received and one that gets played with week after week?

Look at the time-tested toys on the Toys That Kids Play With lists and you’ll see that most share certain qualities.

Good toys

  • Are age appropriate. Toys meant for older kids can not only be dangerous for younger ones, but can be confusing or boring since kids haven’t acquired the skill or understanding they need to use them.
  • Can be used in more than one way as kids grow and learn.
  • Let kids be creative. They allow kids to create imagined worlds and scenarios.
  • Encourage extended attention. Kids play with them for more than a minute.
  • Foster  skill development. The best toys help kids build language, motor, social or problem solving skils while they play.
  • Appeal to the senses. They’re fun to look at, touch, and listen to.

On the flip side, toys destined to be forgotten

  • Aren’t interactive. Kids watch them do what they do rather than participating actively.
  • Are one-trick ponies. There’s only one way to play with them.
  • Make noises so annoying that mom or dad makes them disappear forever (*cough* Zhu Zhu Pet *cough*)
  • Require you to keep buying accessories, refills, etc. in order to maintain your child’s interest.

What characteristics would YOU add to these lists?

Coming soon: We’ll take a look at some of the toys on the 2011 “hot toys” lists and see how they do or don’t meet the criteria for good toys.

Filed Under: Shopping Secrets, Toys, Toys That Get Played With Tagged With:

Early Shopper’s Guide to Holiday Savings: Tips to Help You Save Big

October 24, 2011 By 1 Comment

You-know-what is two months away, and Black Friday is a month from tomorrow. Some of you have already started your shopping, and I’ll bet there are a few of you who have already wrapped it up. Here are a few of my best tips for saving on gifts for kids.

1. Kids don’t need lots of toys. As parents, we want to shower them with goodies, but it’s sooo not necessary. If you feel like you might be overdoing it, you probably are. Also, kids could care less if an item’s gently used, so check kiddie consignment stores, Craigslist and Freecycle for big savings. Inspect used toys carefully and check for recalls.

2. Familiarize yourself with Baby Cheapskate’s List of Toys that Get Played With before you shop (look for updated lists later this week). These lists are compiled from hundreds of parents’ tips about what toys captured and kept their kids’ interest long after the decorations came down. You can access earlier lists here.

3. Try to buy at 40% or more off list price. Sound like a lot? Many of last season’s most popular toys went to 50% off during the second week of December (still in plenty of time to arrive by December 25). Prices will drop, you can be sure, but how long you hold out before buying will depend on your tolerance for risk.

4. Black Friday will rock, especially for those of you who enjoy the sport of it. Toy deals usually peak toward the end of the first week of December. Sales seem to be happening earlier than ever his year, though. You’ve probably noticed a few “Cyber Sales” already.

5. Sometimes it pays to wait. You never really know when the best deal on the particular wish list item you’re looking for will surface, so don’t stress about it too much. Count on getting great deals through about a week before Christmas. Just be sure order by December 17 or so to be sure that gifts arrive by the big day. Expect many stores, including Target and Toys R Us, to offer free or cheap expediting shipping for last minute shoppers.

6. Clearance sales on winter clothing traditionally start late in the third week of December through right after Christmas day. Inventory will be best at this time, though the sales will continue long into January and perhaps through February, with the very deepest discounts at the end of the sales. Look for sales at The Children’s Place, Old Navy, Crazy 8, Gymboree, and more.

7. Daily Deal and Flash Sale Sites (Zulily, The Mini Social, Groupon, Plum District and others) will compete fiercely for your holiday dollar.  I predict that we’ll see lots of coupons, free shipping offers and sign up bonuses, along with sales on brands we haven’t seen yet on these sites before. Don’t get caught up in the frenzy, though. Do a price comp to make sure you’re getting the deal you think you are, and include shipping costs in the price as you do so.

8. Use Facebook and Twitter to catch time-sensitive deals. Check for coupon codes and sale announcements on retailer’s Facebook pages. The same deals should also show up on Twitter.

9. Watch for Amazon Lightning Deals. Some of last year’s hottest toy deals showed up as limited-time steals at Amazon. You can access them at Amazon’s Today’s Deals page or on the Baby or Toys Department pages.

8. Other retailers–Hanes, Kohls, Overstock, Kmart, Target, and others–will also offer Holiday Deals of the Day.

10. I’ll be posting the hottest toy, baby gear and clothing deals here daily–heck, several times daily– here on Baby Cheapskate. Make sure you’ve Liked BC on Facebook to be notified of posts as soon as they go up and to catch lots of deals that you won’t even find on the blog.

Readers: What are your best toy shopping tips?

Filed Under: *Hot Holiday Deals*, Shopping Secrets Tagged With:

Beyond the Daily Deal Sites: Secret Sources for Huge Savings on Baby Stuff [Shopping Secrets]

September 14, 2011 By 2 Comments

Looking for a deal on a hard-to-find-on-sale item? We all know about the daily deal sites and sample sale sites like Zulily. But here are a few secret sources for deals you may not yet be savvy to:

Warehouse Sales

If you’re lucky enough to live near a warehouse for one of your favorite brands (and know about it), you can often hit their warehouse sales for savings of 30% to 70%. Britax has one in Charlotte, for example, and Maclaren has one in Norwalk CT. Check the Warehouse Weekends and WHSale websites to see what’s near you, or call your favorite brands and see what you can find out.

If you don’t have any luck finding warehouse sales near you, there are a few brands that have warehouse or outlet sales online. The sites I’m linking to below are only active when a sale is on. Bookmark this post for future reference.

  • JJCole (which owns Fleurville) ran their warehouse sale during the 3rd week of May this year. Diaper Bags, blankets, BundleMes and more were around 50% off.
  • Petunia Picklebottom: Register for two-day Surprise Sales. There was one during the third week of March,  the third week of June and mid-July. “Discontinued classics and certified seconds”

Where to find Seconds, Gently Used, and Final Sale items

Some sites sell returns and “seconds” with small flaws. Others sell gently used items that their customers have returned. These items may not be eligible for return or exchange. so shop carefully.

For cloth diapers

Baby Gear

Daily Deal Site Archives

Missed a daily deal? These sites offer leftovers in their archives:

Returns and Open-Box Items

Open box items offer big savings, too. These items may have been floor models or returns.

Do you have a secret sale source that should be added to this list? Let us know in the comments!

See more Baby Cheapskate Shopping Secrets posts.

Filed Under: Shopping Secrets
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