What to Buy in July to Save

The dog days of summer are hitting the east coast as this article is being written, so more Americans are spending time trying to keep cool, stay indoors and beat the heat anyway they can.

As June rolls into July, many of those same Americans are in the midst of July 4th planning, whether that’s the typical barbecue, fireworks and family endeavor or outing, which also can include traveling and the high cost of gasoline.

Also, part of July are the always and ever-present July 4 sales that run rampant between retailers hoping to secure business and build on a month (July) that typically isn’t that beneficial, although recently has shown improvement.

So with that, does it make sense to buy certain products in July? Furthermore, what July 4 sales seem to be the better bet, versus other stores and online merchants?

Last July, retailers were pleased with the results as July exceeded expectations versus initial projections. July rose .6 percent versus the .4 that was expected, which at the time was the highest jump since December of 2016.^[1]

What made July more beneficial was a two-fold sales approach that saw an increase in motor vehicle sales, in addition to more spending that was discretionary, perhaps again playing on the July 4 holiday sales and individuals being a little more at ease buying July 4 paraphernalia, whether that’s a grill, outdoor furniture or anything else that gets your outdoors looking the part of a party.

Part of what made July 2017 so impactful from a sales number wise was the Amazon Prime Day, which played a larger role in the .6 percent sales jump, again which was unexpected. Thanks to Amazon Prime Day, sales as far as “non-store” retailers grew 1.3 percent last month, another huge increase and the biggest since December.^[2]

That same report detailed a 1.2 percent increase in both car dealerships, home and garden, improvement centers (same increase as cars) and one percent increases in department stores as a whole, a welcome change and surprise performance given that brick and mortar retailers struggle to keep up with the convenience of online stores.

The numbers put forth in July 2017 show that the buying power in July is both helped by July 4 sales events (think car dealerships on this one) and also a general propensity to spend money in the middle of summer, even though July might not stand as tall alongside shopping days or events such as Cyber Monday, Black Friday and Memorial Day sales or Labor Day sales.

But July has a perfect mix of both outdoor and family festivities coupled with a day that boast sales deals that are hard to pass up.

Americans spend about 7 billion dollars celebrations and cookouts, other celebrations of that ilk, on July 4, but also 44 million people traveling for the holiday, not to mention fireworks being sold as part of the sales force.^[3]

The most recent numbers have the total fireworks sales at or around 13 million dollars per year, and that has steadily shown increase.^[4]

Food spending is going to have a slight downturn, with 6.9 billion expected to be spent on food, down from the 7.1 billion in 2017, with that same study showing that 25 percent of the population is concerned enough about gas prices that their spending will be subsequently affected by that.^[5]

With so many moving parts, July can be equal parts fun and confusing as far as how to celebrate, what to buy and from a product standpoint, how to save money on what you need and want or what makes the most sense to buy. Here’s a good place to start, from a products and July 4 sales point of view:

Summertime clothing: Believe it or not, retailers are ready to get rid of this at a discount

So, let’s get this straight: summer isn’t close to being over, but retailers are already bailing on the summertime apparel in favor of making room for the Fall merchandise?

You bet.

Most clothing retailers are ready to give you an outstanding deal on bathing suits and other summertime fare for your wardrobe, minus the cost.

Deals range for July and July 4 sales in the neighborhood of about 30 to 40, and in some cases 50, percent off for summer clothing.

A few examples include Lands’ End and a 60 percent discount on their summertime collection across the board, along with bathing suits courtesy of J. Crew that are up to 40 percent off regular price.^[6]

July 4 sales, from retailers like L.L. Bean and Ralph Lauren, not to mention Gap (50 percent off), are running at this moment with deals that focusing on an additional 30 to 40 percent off; Gap Factory, an outlet store has 50 percent off deals on items that already are on clearance.^[7]

Macy’s July 4 sale is on now through July 8, and promotes various ways to save money, whether it’s an extra 25 to 20 percent off and free shipping if you opt to go the online route.^[8]

The bottom line on July and clothing is that this is not only the time to buy, but you shouldn’t be spending full price on anything summer related.

Discounts run rampant, and even the higher end brands like Coach, have started summer sales., along with Forever 21 and Old Navy, with Nordstrom, another high-end shop, starting a July 20 Anniversary sale.^[9]

And if you’re thinking back-to-school shopping in July to get a leg up on saving money, think again.

Back-to-school shopping deals aren’t going to hit until later in August, so check back next month for What to Buy in August for the best places to go for everything back to school related.

Amazon Prime Day: Yes, it’s big enough of a deal to get its own headline

So this isn’t a product per say, but the Amazon Prime Day, which ends up being more like 3 days, features sale prices on everything you could imagine in a retail blitz that feels more like shop till you drop, but thankfully if the latter happens you’ll already be home.

As mentioned Amazon Prime Day helped usher in a successful July last year, so this year feels like it’s going to be more of the same.

Some reports suggest Prime Day starts on Monday, July 16, although that hasn’t been confirmed.

Amazon Prime Day, last year, had plenty of variations on electronics and TV’s, but it’s effect really is felt when you consider that these prices can be price matched by other retailers that are in person, thus saving money as part of spending (novel idea, right).

A study showed that when the average American family shops at every day low prices, you’ll save nearly $885 per year.^[10]

If you still aren't believing the power and magic of Amazon Prime Day, consider that sales in 2017 were up 60 percent from that of 2016, and the Amazon Prime Day last July outsold anything Amazon did for Cyber Monday or Black Friday.^[11]

That, in and of itself, reeks of impressiveness, and if you’re not partaking or at least taking a long, hard peek at Amazon Prime Day as a day when sales are at their peak, you’re doing yourself a major disservice, if for no other reason you can shop for just about anything but again use those prices as a bargaining chip for other retailers who aren’t going full-sale discount in mid July.

Vehicles: Car dealerships are ready to see you drive off in a new car at any cost

When it comes to car buying, you always have a few solid days out of the year, if you can wait, where you’ll get outstanding pricing.

Most look at anytime after October, when the following year’s cars are hitting the lot so when it’s time to say so long to 2018 models and the 2019 ones are coming in, you’ll have a great chance at getting a better price.

Furthermore, July 4 has cemented its status as a car buying time period, too.

Sales are continually up from one July to the next.

From Dodge to Ford, Chevy and everything in between, car dealerships are setting off their own fireworks with better deals, one after another.

For instance, the popular Dodge Ram, the 2019 version has a deal that allows you 0 percent financing for 36 months, and $2,000 cash back.^[12]

Acura is another brand that hits hard in July, specifically 4th of July deals with anywhere from .9 percent to 2.9 percent financing on the ILX, MDX, RDX, RLX and TLX models for the 2018 version, but they’ll expire by July 5.^[13]

Between the hustle and bustle of July 4 sales, along with the excitement and enjoyment that is July 4 from a party and get together perspective, you simply can’t ignore the retail prowess and power of the month of July.

Granted, the parties can get costly, the fireworks expensive and the sales abundant, but that falls back on knowing what to buy, product wise, and how to do the most appropriate spending from a budgeting and saving standpoint.

The issue with speciality events, like July 4 sales, is that you’ll always see plenty of items, products and services on sale, but knowing how to effectively discern what makes the most sense to buy truly is what separates good spending from not so advisable type spending.

Consumers spend a little over $70 per household on food and for barbecues and outdoor events, and that is part of that 6.8 billion projection.^[14]

When you consider the food and party piece of July as a buying month, you might not have a lot of room left to spend on a new car, summer clothes, electronics and other buys in July that are highly discounted.

But consider the timing of those retail expenses and how you can save over and above if you were to wait another month or pick a different time during the year to buy, and how that negatively impacts your finances.

This isn’t about downplaying or putting a damper of your July. This month is all about saving money, having a blast and sitting back and enjoying the sun, fireworks and all that July has to offer.

And that, if done right, includes quite the bang, savings wise.