NerdWallet: Sorry folks, Black Friday has already started. But don’t worry if you miss the early sales.

by | Oct 10, 2022 | Stock Market

This article is reprinted by permission from NerdWallet.  October is the new Black Friday. At least that’s the impression some retailers give. Target
TGT,
-2.19%
and Amazon
AMZN,
-4.77%
head into the month hot with big discount events this month.

Shoppers may find the early sales a worthy way to save money on gifts now. But don’t panic if you’re not feeling the holiday spirit just yet. A September study on holiday shopping by global intelligence company Morning Consult notes that “retailers’ current aggressive price promotions may indicate an ‘always-on’ discount strategy through year-end.” That should spell relief for those hoping to skip dawn patrol and avoid shopping cart stampedes the day after Thanksgiving (Nov. 25 this year).Companies are competing for your dollars “While many people say they’re trying to spend less this year, their actual spending forecasts are extremely similar to 2021,” said Claire Tassin, retail and e-commerce analyst at Morning Consult, in an email. “We’ll see people making more trade-offs to accommodate inflated prices.” The frenzy of early holiday sales shows retailers are competing for “a piece of that pie,” says Trae Bodge, smart-shopping expert at TrueTrae.com. “Consumers only have so much to spend, and so retailers are hoping to incentivize them to shop early and spend [at their stores] versus their competition,” Bodge says. Target’s Deal Days ran Oct. 6-8, while Amazon’s Prime Early Access Sale — unofficially dubbed Prime Day 2 — is Oct. 11 and 12. Both retailers tout big savings on tons of products, including home goods, electronics, clothing and toys. Amazon is almost guaranteed to discount its popular Alexa devices and will feature a new Top 100 list with a curated selection of the best deals (if you’re worried about how to make sense of it all). Amazon’s sale is exclusive to Prime members. The Target sale was open to all. Read: Retail sales rebound, but they aren’t adding much oomph to the U.S. economyBe the version of yourself that plans ahead While early sales are a good opportunity to get a head start on holiday shopping, Bodge warns against feeling a false sense of urgency. “Try to stay on task,” she says. Going into …

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