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I-TEAM Consumer Alert: ‘Timing is everything;’ When’s the best time to buy?

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There’s a lot of uncertainty surrounding the economy, and it’s making many people take a hard look at their finances.

Sometimes there’s something you just must buy, and it turns out getting the best deal is all about when you do it.

News Center 7’s Xavier Hershovitz takes a look at how you can get the best deal.

Gregory Hill of Dayton said, “I do like getting deals when I’m shopping.”

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These days, we all want to find the best deal, and when it comes to finding the best deals.

“I’m not really sure, I just go to the cheaper one,” Hill said.

Turns out it’s less about where you buy and more about when you buy.

Stephanie Carls, Retail Insights Expert for Retailmenot, said, There’s timing for everything, and it’s really going to help you save money.”

She said to get the best deal on big-ticket items, it’s all about knowing when to buy.

“You are planning smarter. You’re not just stumbling into a deal,” Carls said. She said, “February is going to be best for televisions.”

Those deals are centered around the biggest TV day of the year, which is the Super Bowl.

“Also, it’s when the new models are coming out onto the floor, and so retailers are also trying to get rid of the older ones to make room for the new ones,” Carls said.

Next, look for three-day weekends.

“So, you have President’s Day, Memorial Day, and Labor Day. Those are all prime times to grab appliances, mattresses, furniture, and seasonal clothing,” Carls said.

That gives you three opportunities a year, in February, May, and September, to get those big-ticket items. When it comes to electronics, there are two times a year.

“If you are in the market for a new electronic of any kind, Prime Day and Black Friday are going to be it,” Carls said.

Prime Day hits in July, and other retailers, like Target and Walmart, roll out their own deals to compete with Amazon, which helps when needing to buy an electronic before school starts.

And, if you can wait, Carls said, “Black Friday is still going to be one of the best times to get electronics. So smart home devices, phones, laptops, tablets, and computers.”

Carls said planning is key to getting the best deal.

“These prices aren’t random, and retailers build sales around seasons, events, and inventory cycles. So knowing the best times to buy means that you can plan a lot smarter, and you can save even more without having to chase every single sale,” Carls said.

And savvy shoppers use that information to their advantage.

“They just figure out a way to make money at certain times when people really want to buy things,” Hill said.

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