Retailers have a host of tactics designed to get you to buy. Some of these tactics imply that you are getting a great deal, perhaps even the best deal possible. While this certainly happens, the first discount is rarely the best discount when it comes to most luxury apparel, handbags and footwear. Understanding the different types of discounts and what they mean will make you a savvy shopper and help you determine whether to click buy or wait for a better deal on discounted luxury brands.
When you see any of the phrases below, you should know that the prices for these items may not really be at their lowest for that retailer.
Lowest prices of the season! Retailers have gotten into hot water in the past by abusing these campaigns. Seasons are arbitrary, but the fine print should disclose the definition and timing of the season. Read it carefully.
Now even lower! This often refers to the most recent price. While the current price may be even lower than the previous price, it does not mean it is a great deal.
Extra 20% off! This offer is typically for selected items that retailers are trying to liquidate. There are often many brand exclusions as well as other restrictions.
Special prices for our VIPs Congrats! You are a VIP. Unfortunately, this exclusive club may not be as hard to get into as you think. While you may be a valued customer, this is a marketing tactic referred to as "exclusivity," designed to get you to make purchases.
Friends & Family Sale This is very similar to the VIP sale and implies that you’re getting the same discount as VIPs or even employees.
Private Sale / Private Event These “invite only” sales are often for a handful of specific brands and can be a great source of discounts if those brands happen to be your favorites. Saks Fifth Avenue often runs these sales on brands including Balenciaga, Bottega Veneta, Burberry, Prada, and Miu Miu.
Read the Fine Print!
Before making a purchase, make sure to read the fine print. Each retailer has its own policies for discounted merchandise, and you need to understand the rules before making a purchase. Here are some key things to watch out for so you don't end up making a decision you'll later regret.
Final Sale. Some items may be marked as "Final Sale," which means you cannot return it if it doesn't fit, or you don't like it. We only buy Final Sale items when it is a brand we know well, and we always wear the same size.
Brand Exclusions. This is a big one. It's common for luxury retailers to send discounts of 25% for one full-priced item. That can be exciting until you look at the exhaustive list of brands that are excluded from the promotion. Do not expect to get 25% off of Christian Louboutin or Gucci.
Understanding the different types of discounts will go a long way to helping you save money on the luxe brands you love!
Happy Shopping!
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