Is Presidents Day the New Cyber Monday?

Financial IQ

The market has been inundated with Presidents Day sales advertising for weeks. Markdowns have been been promoted on television, in newspapers, on billboards and in magazines. Stores are littered with signage and promotions. Are Presidents Day sales the real deal or just industry hype?

Shop It To Me recently performed a survey of 693,000 markdowns throughout 2011 at over 150 retailers. According to the data, Presidents Day ranks second, just behind Labor Day, as the best holiday to get deep discounts on apparel sold online.

In fact, 2011 Presidents Day deals even outpaced Black Friday (42.1% off) and Cyber Monday (41.1% off).

While February is the still shortest month of the year, it appears as though it packs the heaviest punch when it comes to scoring great deals. Last year (2011), six of the 24 highest-ranked sale days fell in February, with the deepest markdowns occurring in the days leading up to Presidents Day.

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The buzz around Presidents Day markdowns makes sense. Presidents Day is hot off the heels of Valentines Day, one of the top gift-giving days of the year, and just before spring merchandise arrives in stores. Retailers are looking to unload leftover holiday and winter merchandise before the season ends. “It’s the first major sale holiday of the year after New Year’s Day,” says the owner of Shop It To Me, Tamra Feldman. “It’s a big weekend for them to be able to put some winter merchandise on sale.”

Feldman speculates that Presidents Day Deals could be greater this 2012 and may even compete with last year’s Black Friday Deals. She notes that one industry in particular that will greatly benefit this year is clothing and apparel. She also predicts that the best Presidents Day markdowns in 2012 will be specifically targeted at casual shirts, skirts, suits and casual pants.

Whether or not Presiden’s Day will eventually outperform Black Friday and Cyber Monday, is highly debatable. Black Friday and Cyber Monday are still the heaviest hitters in terms of sales figures, although some industry insiders believe that the best overall markdowns are found during Presidents Day weekend. That being said, it seems that Presidents Day is quickly becoming a formidable contender in the game of holiday sales. Who will come out on top? Only time will tell.

Morgan is a blogger and freelance writer living in Southern California with her two daughters and flock of backyard chickens. You can read more of her at The Little Hen House.

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