It’s been a long year with the pandemic impacting every aspect of our lives. Millions of Americans have lost their jobs, and sales have reached an all-time low for many businesses.
Is it time to cancel holiday shopping? The fear of contracting COVID-19 has kept shoppers out of the stores throughout the spring and summer.
However, sales this holiday season are still expected to spike 1-1.5%. So, what does this mean for shoppers and retailers as the holiday season looms? Below is some helpful information about holiday shopping during the COVID-19 pandemic.
How Will Holiday Shopping Look Different This Year?
The global pandemic has reshaped every phase of American life, and this holiday season will be no different. Store closures, stay-at-home orders, and financial constraints are some factors that will impact holiday shopping this year. Here’s how the holiday season may be different during the COVID-19 pandemic.
Less Holiday Traveling, More Small Gatherings
After decades of spending money on traveling to see friends and family for the holidays, gift-givers are more likely to stay home. Expect small family and friend get togethers or for gifts to be sent by mail or skipped altogether.
Pop-up of Outdoor Markets
Retailers have heavily invested in building up their online platforms, and they will look to create ways to safely accommodate customers who want to purchase in person. Similarly, parking lots, sidewalk stalls, and outdoor markets are likely to rise in many U.S. cities in the coming weeks as retailers search for ways to imitate the in-store experience in lower-risk settings.
Closed on Thanksgiving
After decades of starting Black Friday sales early, some of the country’s largest retailers have plans to close on Thanksgiving. Walmart was the first to announce that all its U.S. stores will be closed during this holiday for the first time in more than 20 years. This year’s pandemic is changing shopping traditions with more people shopping online than ever.
Holiday Sales Start Early
Retailers are likely to start rolling out deals earlier this year, even before Halloween. Holiday sales are likely to kick off in October and extend through mid-January, while retailers race to make up sales during the all-important fourth quarter. This three-month period can boost a business’s annual sales by 30 to 40%.
Amazon postponed its Prime Day Sale in July and moved it to October, which is likely to put more pressure on competitors and could lead to the best holiday offers ever.
Best Ways to Find Holiday Deals Online at Home
Shopping online but not sure if you’ll get the best deals? Here’s some guidance to help you find great deals online.
1. Leave a Full “Shopping Cart”
When you find a product you want to purchase, place them in your cart. Consider not buying immediately; some online platforms might remind you about a pending purchase and give you a one-time discount code.
2. Check for Discount Codes
If the cart trick fails, search one of these coupon code sites to find a current discount code. This can be daunting, but it could save you money.
3. Image Search Your Product
When you find an item online, consider putting the image into a , which could show you some cheaper options and may help you determine if the product meets your expectations.
4. Sign Up for Mailing Lists
Many sites come with a pop-up requesting you to join their mailing list. Consider signing up because stores often send special offers to their subscribed members.
5. Check Out Social Media
Your favorite store is likely to have a social media presence. When shopping, check their page first to see if there are any special sales. If not, search their tagged section. Many retailers use influencer marketing to sell their commodities at discounted prices.
Personal loans for the holiday season from Mariner Finance
Need a loan to help with holiday expenses? A personal loan could come in handy to cover costs.
Apply for a personal loan for this holiday season, from the comfort of your home.
†We offer personal loans from $1,000 to $25,000, with loans terms from 12 to 60 months. Minimum and maximum amounts dependent on an applicant’s state of residence and the underwriting of the loan. Loans between $1,500 and $15,000 may be funded online. Loans greater than $15,000 or less than $1,500 are funded through our branch network. Specific interest rates and fees are determined as permitted under applicable state law and depend upon loan amount, term, and the applicant’s ability to meet our credit criteria, including, but not limited to, credit history, income, debt payment obligations, and other factors such as availability of collateral. Not all rates and loan amounts are available in all states. Additional fees may apply to some loan offers; some state required and/or permitted fees may be treated as prepaid finance charges. Any such charges shall be in addition to the loan amount requested and/or approved and shall be fully disclosed to the applicant on his/her loan agreement. Not all applicants will qualify for the lowest rates or larger loan amounts, which may require a first lien on a motor vehicle not more than ten years old titled in the applicant’s name with valid insurance. Our loan by phone and online closing process requires a compatible mobile or computer device on which you can access your email and electronic documents. Not all loan types are eligible for loan by phone or online loan closing.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. As a result, under our customer identification program, we must ask for your name, street address, mailing address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
For any stated annual percentage rate (“APR”), the APR represents the cost of credit as a yearly rate and will be determined based upon an applicant’s credit at the time of application, subject to state law limits. A range of APR’s may be applicable, subject to state law limits and individual underwriting. Not all applicants will qualify for a lower rate. APR’s are generally higher on loans not secured by a vehicle, and the lowest rates typically apply to the most creditworthy borrowers. All terms and conditions of a loan offer, including the APR, will be disclosed during the application process. As an example, with an amount financed of $5,000.00 the borrower receives $5,000.00 at an APR of 29.99% and an interest rate of 28.77% which includes a finance charge of $3,640.96. Under these terms, the borrower would make 48 monthly payments of $180.02, for a total of payments of $8,640.96. The amount financed may not be the net proceeds paid if charges other than interest are included in the loan.
*The process uses a “soft” credit inquiry to determine whether a loan offer is available, which does not impact your credit score. If you continue with the application process online and accept a loan offer, or are referred to a branch and continue your application there, we will pull your credit report and credit score again using a “hard” credit inquiry. This “hard” credit inquiry may impact your credit score.