LI bargain hunters share holiday shopping strategies

Gail Siegel's standards for what constitutes a good bargain are rising.

"I definitely feel that in terms of discounts . . . 30 to 40 percent off is the new 20 percent off," the Roslyn resident said. "Twenty percent isn't going to get you off the couch as much anymore."

Siegel, 36, isn't just speaking for herself; her observation resonates in the results of various holiday retail surveys, analysts' predictions and the attitudes of fellow Long Island shoppers.Though a good bargain has often been the cornerstone of the holiday shopping experience, this year the specific price point of that bargain will prove the key difference between "sold" and still "for sale."

Customers remain attracted to the hottest new gadgets or trendy handbags, but for the 2013 holiday shopping season, they are particularly focused on getting the best bang for their buck.

According to Melville-based digital marketing firm The EGC Group, more than 60 percent of consumers said affordability was becoming a more significant factor in their purchasing decisions this year. That's up from 55 percent last year, said Nicole Larrauri, a managing director at EGC.

Retail analysts say continued unease about the economy -- perpetuated by the government shutdown, debt ceiling debacle and uncertainty over the changes in health care premiums -- is driving consumers to seek more value and lower price points on their purchases.

"The consumer at large is still pretty unsure of what the economy is going to look like next year," Larrauri said. When many shoppers started looking forward to the holiday season last month, it was "right in the middle of the government shutdown, right before elections . . . there was a lot of overall uncertainty," she added.

Despite Americans' weaker consumer confidence, spending is expected to grow 3.9 percent this year to $602.1 billion during the height of the November to December holiday shopping season, according to the National Retail Federation.

Even as consumers spend more, they'll still continue to look for the best values. Nationally, 62 percent of shoppers -- an increase of 10 percent from last year -- said it would take a discount of more than 30 percent to clinch a buying decision, according to consulting firm Accenture's annual holiday shopping survey. Of those who do buy something on sale, nearly 40 percent said they would take an item back if they found it at a lower price.

On Long Island, shoppers echoed the enthusiasm for savings.

Sandra Eavens, 37, of Wheatley Heights, said she tries not to spend more than $25 per person for gifts. Last year, she shopped for more than 20 relatives and spent less than $500 total, still managing to buy high-end or designer products by being patient and flexible when browsing sales.

Eavens said she never buys items for full price unless it's an absolute necessity, and whether she shops online or in a store, she always does an online search for additional coupons before she completes the purchase. "The best time to buy [something] is when you get the best price for it," she said.

Part of her strategy also involves her smartphone, whose mobile apps she depends on to compare prices and receive notifications of sales on certain items. And she's not alone there -- the Accenture survey noted that 33 percent of shoppers will be using their phones to compare prices, compared with 19 percent in 2012.

Siegel, who said she is hoping to spend less this holiday season because she recently bought a home, said she always looks up items online before she buys in stores to make sure she is getting the best price.

"It's just satisfying when you find something someone paid three times as much for," she said.

More opportunities to save

For some shoppers, though, the focus on savings has been habit.

Diana Paz, 28, of Brentwood, said she likes to set mental limits on how much she spends, such as no more than $20 for tops and $50 for shoes when she shops for herself. When she buys gifts for friends and family, she tries to stay within the $20 to $40 range. As she shops for the holidays, Paz said she is keen on scanning store ads for the best sales, and makes sure to use any coupons she receives via email. She also likes to shop on weekdays to take advantage of sales that may not be as well-publicized.

On the retail side, stores are pushing the need to save, too. The shopping season between Thanksgiving and Christmas this year is six days shorter than in 2012, prompting retailers to open earlier -- and in some cases for the first time ever -- on Thanksgiving Day, advertise steep discounts on merchandise weeks before Black Friday and Cyber Monday and fortify the seamless shopping experience by strengthening their online and in-store connection.

Retailers are also advertising more sale events than in years past in light of recent turbulent economic news and to lure more shoppers to the physical location, said Craig Rowley, a retail analyst for Philadelphia-based consultancy Hay Group.

"You're going to see more promotions than [retailers] planned three months ago," he said.

The proclivity to get a bargain no matter what may be worth it for shoppers this year. The holiday season is expected to be one of the strongest in terms of bargains and discounts available, said Mark LoCastro, a spokesman for DealNews.com, which aggregates and analyzes discounts offered by retailers.

"We're talking about all-time price lows on all types of products," he said.