Save money by shopping. Sound crazy? Not if you can wait to buy until after Christmas it isn’t. Post-Christmas shopping is a great way to save significant amounts of money on large, big-ticket items to satisfy long-term needs. Retailers use these post-Christmas sales to sell off overstocked items and to make way for the arrival of the new year models, a practice which can benefit the smart consumer.

Most people are familiar with department stores’ post-holiday clearance sales. J.C. Penny’s famous 5:30 a.m. December 26^th “Door Buster” sales are a perfect example of this. Although this can be a great opportunity to save money on the latest fashions and house wares, many other retailers offer similar post-holiday sales where the educated consumer can score huge savings on everything from home electronics to appliances – even home heating systems.

Let’s say you are interested in purchasing a new refrigerator. The gigantic metal beast that has been sitting in your kitchen for 25 years may be on its last legs, or you would like something that’s more energy efficient. In order to take advantage of post-holiday bargains, there are a few steps you should take prior to rushing off to the store in response to an ad in the local paper:

1. Know What You Want: Rather than making a large impulse purchase that you may regret a year down the road, take some time to think about what it is you want or need. A side-by-side unit? Bottom-side freezer? Stainless steel? Water and ice dispensers? Energy Star approved? Make a list of the features the item needs to have, and keep a separate list of what you want the item to have. This will make comparing items at the store more efficient. Also don’t forget to think about the space the item will go in. Is there enough clearance? What size product would be appropriate? Will the item still be suitable if we remodel in a few years? Answering these questions up front will guarantee that you make the right long-term purchase.
2. Educate Yourself: Now that you have established the size, features, and other characteristics you want in your new product, it’s time to see what’s out there. Research comparable products that meet your criteria to find an average price range for each product. Now you can look at that newspaper ad. Does the product meet your needs list? Does it also have a few items from your wants list? Is the product considerably less than the going average for similar products? If the answer to these questions is yes, great! But you aren’t done yet. Research the model number of the product on sale. Look for information on its reliability and value. Have other consumers commented on the product? Are they happy with their purchase? Websites such as www.epinions.com and www.ratings.net can help you evaluate the quality and reliability of the product.
3. Visit the Store: Visit the store and take a look at the actual product. Make sure it is not a shelf or display model, or that the product’s packaging is intact. Display models often have been operated for long periods of time already, and may not be the best value. Display models do, however, present an opportunity to negotiate with the salesperson for the possibility of additional savings. Packaging that has been opened or damaged may indicate an existing problem with the product and should be avoided, but again, perhaps there is opportunity for negotiation here.

A consumer that knows what they want, educates themselves on comparable products and prices, and evaluates a product prior to purchase stands a much greater chance of making a wise post-holiday purchase that will save money in the long run.

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