Yahoo Finance How to Save on Hot Toys This Holiday Season
Don't be surprised if your little ones start asking for certain toys, like particular Frozen-themed dolls or specific Transformers figures, as the holiday season nears. Every year, particular playthings stand out as the hot toys to give -- and get -- as Christmas and Hanukkah presents, and parents scramble to get their hands on the popular items. Remember the top toys of holidays past, like Tickle Me Elmo and Furby?
While it's hard to predict what the hot toys will be this holiday season, retailers are already staking their bets. In September, for instance, Toys 'R' Us released its annual Hot Toy List, a list of 36 toys "expected to be at the top of kids' wish lists this year," and Amazon.com and Walmart have similar lists out.
The bad news is that many of the toys expected to be the most sought after aren't cheap, and consumers shouldn't expect too many deals on the toys predicted to be the hottest of the hot. In fact, gift expenses are likely to be up this year from last. According to the National Retail Federation's Holiday Consumer Spending Survey, consumers will spend an average of $459.87 on gifts for their family this holiday season, up 6.5 percent from $432 last year.
However, this doesn't mean you necessarily have to pay full price for popular holiday toys. Here are four simple ways to potentially save when checking off your child's holiday wish list.
Know when to buy. Traditionally, December has been when retailers offered the most generous toy deals. However, according to DealNews, that changed last year, when the week of Black Friday came in as the top week for finding "a wider selection of excellent prices." If you're looking for a deal on the very hottest toys, such deals will most likely appear on Thanksgiving or the day before, the experts at DealNews say.
Meanwhile, for toy deals in general, DealNews experts say Cyber Monday, the Monday after Black Friday, is "the single best day to look for toys" because that's when there tends to be the most toy deals during the holiday season (the second best day is Thanksgiving day itself).
However, according to DealNews, the two middle weeks of December still rank high in terms of toy deal volumes. So, frugal toy shoppers may want to do their toy shopping beginning in the week leading up to Black Friday, take a break in the week following Cyber Monday and then resume shopping again December 7 through December 20, quitting when they find deals on the toys they're looking for.
Know what constitutes a good deal. According to DealNews, toy shoppers should look for Black Friday and mid-December toy deals of up to 75 to 85 percent off, including for popular Frozen-themed toys and accessories.
Know where to find the deals. DealNews has found that Amazon.com offers twice as many toy deals during the holiday season as the other retailers it tracks (be sure to check out Amazon.com's Holiday Toy List at amazon.com/gp/holidaytoylist to find limited-time deals on popular toys), and that Walmart also offers generous sales.
In addition, the social media accounts of your favorite toy retailers are another place to watch for deals. At Facebook.com/Toysrus and @ToysRUs on Twitter, for example, Toys"R"Us says shoppers will be able to "find deals on hot toys" as the holidays near. You also may want to consider subscribing to daily deal round-up emails, such as the DealNews Select Newsletter, and taking a look at the deals offered over at these other online shopping sites too.
Don't forget to comparison shop. Before heading into the toy store or clicking buy, be sure to check out competitors' deals and comparison shopping tools and sites like PriceGrabber.com, and brush up on any price matching programs being offered. For in-store purchases, for instance, Toys"R"Us will match many competitors' advertised prices (more on that here Toysrus.com/PriceMatch), and other retailers offering holiday price matching programs include Target and Walmart.
To be sure, it may be hard to find a great sale on the specific hot toy that your child wants. However, it's important to remember that there will be no shortage of holiday toy deals available. So you can always splurge on one item, and then stuff the stocking with much cheaper toys.
What are your strategies for saving on popular holiday toys?
Jennifer Saranow Schultz, formerly the "Bucks" blogger for The New York Times and a reporter at The Wall Street Journal, shares daily hints to help make parenting easier and cheaper at HintMama.com, on Twitter at @HintMama and on Facebook at Facebook.com/HintMama.
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