It's time to stock up on bling.
You probably already know that Boxing Day is one of the shopping days in Australia and this year it's expected to be even bigger since NSW lifted the legislation last year that prevented most areas from trading on Boxing Day. This means more sales, more competition and better discounts. Boxing Day is definitely the time to buy.
So why is Boxing Day such a massive shopping event? Well, since most retailers buy a whole load of extra stock for Christmas, sometimes there is quite a bit left over that they have to get rid of before the new year. This means that most retailers have a sale on Boxing Day. And when everyone has a sale there is a lot of competition driving prices down. Essentially Boxing Day is the shopping day that dreams are made of.
To give you an idea of exactly how many great sales and discounts there are, Aussies spent over $2 billion on Boxing Day in 2014. For the Boxing Day sales period, which runs from 26 December to 15 January, everyone over the age of 14 spent $850 on average – an absolutely enormous figure given the median full-time weekly salary is roughly $883 after tax*.
Deals you can take advantage of now
Which stores had sales last year and what were the savings like?
Almost every major apparel and accessories retailer had a Boxing Day deal last year. Savings varied greatly between different stores, with higher end retailers like David Jones and Saks Fifth Avenue offering smaller discounts on a selected range and more affordable stores like Boohoo offering almost 60% off storewide.
Here are just a few of the jewellery retailers and their Boxing Day sale from last year.
Which do we predict will have a Boxing Day sale this year and what do we recommend?
Based on the sales from last year it is fairly safe to say that most if not all major Australian retailers will have a Boxing Day sale.
There is an extra factor at play this year. For the first time ever, NSW dropped the Boxing Day retail trading ban. Previously, only 40 council areas across NSW were allowed to trade on Boxing Day but this year every store will be allowed to open. As a result, we can expect this to be one of the biggest Boxing Day sales Australia has seen. There will be a whole load of additional deals in an effort to compete with all of the new stores that previously had to remain closed. We can expect all these extra deals to be reflected on the online stores too.
Here are some finder.com.au favourite retailers that you should keep an eye for great Boxing Day deals.
Is boxing day a good time to buy jewellery and is it worth buying?
Is boxing day better for buying fine jewellery or costume and fashion jewellery?
This is entirely up to you and whether you prefer fine or costume jewellery. You should always buy the item that is more in line with your personal style.
As a general rule, discounts will always be more significant on costume jewellery. Costume jewellery, while beautiful, is cheaper to make and there is loads of it on the market driving sale prices down. Costume jewellery stores like Lovisa and Diva are always competing with each other over price. As a consumer, this means on Boxing Day we're going to see some very reasonable prices on costume jewellery.
Fine jewellery with precious metals and stones will never be too heavily discounted as they are products that holds their value over time - diamonds don't really go out of style. That said, fine jewellery retailers rarely have sales or discounts. So if you're in the market for fine jewellery, the Boxing Day sales is when you should buy as you're unlikely to ever get a better deal.
It is worth noting that designer jewellery like Cartier, Bulgari, Fendi and others will most likely not have a Boxing Day offering. High end designers do not discount their products. So if you're in the market for something with a four digit + price tag, you probably won't find it in the sales.
The current trends in jewellery and what to buy on Boxing Day?
The biggest there are three major trends in jewellery at the moment: the 70s, boho-luxe and minimalism. If you want to invest in a new piece of on trend jewellery look out for one of these styles.