To fans of Victoria’s Secret, the store’s Semi-Annual Sale is nothing short of a retail holiday. Those shoppers revel in the opportunity to fill their pink-and-black bags with goodies chosen from a vast selection of big price cuts on thousands of items in the store.

If you’re new to the sale, or even if you’ve shopped it in the past, we have everything you need to know — including when it happens and whether you should check it out.

The Victoria’s Secret Semi-Annual Sale is the retailer’s signature discount event. During the highly anticipated sale, which is offered online and in store, the retailer drastically slashes prices (we’re talking 50% or more off) on a wide selection of products.

The Victoria’s Secret Semi-Annual Sale isn’t the only way to save at the women’s apparel and intimates store. For more tips, consult our Victoria’s Secret Store Guide.

As its name states, this blowout sale happens twice a year. Usually, you can expect it to land near the start of the year — when winter styles are all the rage — and midway through the summer months when swimsuits take center stage. The latest installment of the sale is happening right now. It launched on Dec. 29 and is rolling over into 2017.

Traditionally, holders of the Victoria’s Secret Angel Card are granted early access to the sale as one of the perks of having the store’s credit card.

So, you’ve probably caught on by now: This sale is big in the world of Victoria’s Secret. It’s anticipated and hyped, yes. But packed full of deals? Let’s take a look.

The ongoing January 2017 sale boasts lots of low prices, including bras starting at $9.99 and panties starting at $3.99.

During the Semi-Annual Sale in June 2016, the retailer unveiled notable savings across all of the categories shoppers love: Up to 50% off lingerie, up to 40% off loungewear, up to 60% off sport and over 200 swimsuit styles, $19.99 or less bra clearance and $4.99 or less panty clearance.

Discounts abounded during the January 2016 sale, too. The store presented customers with discounts on thousands of styles. These included: 25% to 40% off bras, up to 40% off sleepwear and up to 60% off clothing.   

In addition to reduced prices, online shoppers can often take advantage of free shipping via online promotional codes as well. Victoria’s Secret also has been known to host tote giveaways and buy one product, get another free offerings.

The simple answer — yes. Aside from Black Friday (when Victoria’s Secret gives away tote bags and features steep discounts), the Semi-Annual Sale is the best way to grab your favorite Victoria’s Secret products and fashions for way less than you’d pay at other times of the year.

But remember that you won’t be the only one waiting for the sale. Be prepared for selections to sell out fast. If you want to avoid the crowds, make your purchases online.

Courtney Jespersen is a staff writer at NerdWallet, a personal finance website. Email: courtney@nerdwallet.com. Twitter: @courtneynerd.

This post was updated. It was originally published on Sept. 15, 2015.

Image via iStock.

The article Victoria’s Secret Semi-Annual Sale Guide originally appeared on NerdWallet.