One of our favourite times of year is just around the corner – the End of Financial Year sales! Where fashion businesses try to move as much stock as possible before closing their books for the year. So to help you bag a bargain at the 2016 EOFY year sales, we asked Tony Wan Co-Founder at Fashion Lane to share his top tips for hunting down a great fashion deal:
There was a time when the Boxing Day sales were the sale of the year. The day we fought for car parks, stood outside waiting for stores to open and rushed in to grab the last one in stock. A really enjoyable day. The EOFY sales is the little brother of Boxing Day sales, where it is on par from a bargain prospective, but just minus the rush and fights. What does this mean for you? Two Words. Great Deals.
But as with all sales, there’s always a limit of what you can buy, and this is really dictated by how much disposable cash you can spend. So how can we make the most out of your hard earned money? Here are some simple tips to get you going.
1. Plan your EOFY sale purchases
Making an impulse purchase on a nice dress or shirt is where all the excitement happens. This is where your brain’s logic checks out, and produces some special chemicals that make you happy as you swipe your credit card and make that payment. However, having spent your money on something you probably won’t wear, leaves you missing out on something that you do need.
Make a list of the clothes or styles you would like to purchase at the EOFY sales, and stick to the plan. Try to estimate and budget what you expect to pay for each item. But let’s face it, there’s no getting away from impulse purchases. So, like with all good plans, have a little contingency in place and factor in some of those impulse purchases you will most likely make!
2. Buy staples that can be used across seasons
Fashion is a fickle beast. You can see this with the massive markdowns on the end of season styles. However, some of these ‘end of season’ styles can be used as daily drivers, especially next year round. Things such as jeans, shirts, jumpers and knitwear, never go out of style.
In fact, most brands will probability bring the same style back next season, but with a slight variance in colour or design. Regardless of if it is this season or last season, just remember, fashion is what you buy, style is what you do with it!
3. Go to the EOFY sales events earlier
As with all fashion sales, the number one problem is size. The worst thing is finding something you really like, but to only find out they have run out of your size. If you can, try to get in on the sale earlier, where they are more likely to have more sizes available.
If they have run out in the store, ask to see if another store has stock and if they can hold it for you. Alternatively, if there really isn’t any in stock, you can try shopping online. Usually businesses have different stock levels between their physical and online stores, and you might just be in luck.
In the age of information, you should always do a little research on the items you like to purchase online. This should not differ for fashion. By going online, you can find out what stores are selling what brands, and sometimes even see what stock is available – this will save you from going to the store if they don’t have stock.
One good tip is to check out aggregator websites like Fashion Lane. Aggregator websites allow you to see what and when the lowest price for the item occurred, and even set sales alerts when items drop in price. You may even notice that some sale items, have already been on sale for a cheaper price during the year. Don’t get ripped off!
5. Buy it now, think later
In Australia, we are lucky that most businesses have pretty good returns policies. If you’re not too sure if you should buy that dress or shoes, just do it. When you go home and find out that it’s not really the style you like, or if it just doesn’t match, you can always return it for your money back (keep your receipts).
It’s the worst feeling when you go home after a great day of shopping, but only to reminisce on the one that got away. Add salt to injury, when you go back the next day, the store is sold out of your size. Word of warning, be sure to check the store’s return policies, as not all stores allow you to return sale items or may only offer store credits.
Do you have any other tips to make the most out of the EOFY sales?