NEW YORK (CBSNewYork) — As summer approaches, experts say deep discounts and shopping deals are to be expected due to the impact of COVID-19 on businesses.
With New Yorkers quarantined at home, consumer advocate Jordan Goodman, with MoneyAnswers.com, says the biggest trend expected for the summer is online bargain shopping.
“As the economy reopens, stores are going to want to do whatever they can to attract people back into the stores. We’re going to see deals like we’ve never seen before. This is true of restaurants, it’s true of clothing stores, there’s going to be fantastic deals on mattresses,” Goodman said.
Julie Ramhold, a consumer analyst with DealNews.com, says seasonal home items are already seeing price cuts as the weather warms up.
“Lowes and Home Depot are both taking up to 50% off of patio furniture and grills. We’ve seen swimwear on sale too, which was very surprising because we’re not used to being able to buy seasonal clothing when you actually need it,” she said.
The greatest deals, experts say, will be on travel.
“Because people are so reluctant to travel, I think you’re going to see amazingly low airfares to destinations. I think you’re gonna see great car rental deals,” Goodman said.
“Right now tons of people are getting their stimulus checks in the mail. What kind of advice would you give consumers?” CBS2’s Charlie Cooper asked.
“I would be very cautious with using those stimulus checks. We got a $1,200 check, most of us. Holding onto cash is always a good idea in this environment. Do not blow it,” Goodman said.
Although summer is expected to be a prime time to make affordable purchases, experts advise it’s key to stick within a budget, avoid overspending and if your financial circumstances aren’t stable, save your stimulus check.