Compared to its summer counterpart, the winter transfer window may not have the same major moves happening.
However, it provides clubs with a much-needed chance to reinforce their squads in order to make a run to win their league, qualify for a European Cup or escape relegation.
The biggest move that has happened to date involved Brazilian starlet Lucas Moura, who completed a €40 million move from Sao Paulo to Paris Saint-Germain on the first day of the transfer window.
Despite the hefty price tag, this move will ultimately prove to be the biggest steal of this winter transfer window. Here are five reasons why.
Many players who complete transfers during the winter window do get immediate playing time, including Lucas.
However, Lucas will get the opportunity for immediate playing time on a side that is on track to win its league. (PSG are currently tied with Lyon for the lead in Ligue 1.)
The addition of Lucas to the starting lineup may help to transform PSG in a way which will allow them to win their first league title in 19 years.
This will be an interesting dynamic to watch. Historically, most notable players who complete winter transfers do not win league titles. Lucas should buck this trend considering PSG are the deepest side in Ligue 1.
Nasser Al-Khelaifi is the President of PSG.
It might sound insane to think a player who is worth such a tremendous sum is "cheap." The investment PSG made when they signed Lucas last year will be one which pays off over time.
Lucas comes to PSG as a 20-year-old who is considered to be among the best players in his age group. If he had decided to stay with Sao Paulo, his price would have escalated to a extraordinary amount.
Assuming he fulfills expectations, Lucas will help the club gain millions through additional sponsorships and kit sales.
Sometimes, the most expensive transfers are the cheapest ones due to the gains which come from it. Lucas is poised to become one of those players.
One of the biggest criticisms of Lucas has been his inability to produce in pressure situations. Although he is just 20, the Brazilian has always been noted as a key player.
This pressure hurt Lucas at the end of last year when he tried to capture the league for Sao Paulo. He also failed to help Brazil capture gold in London last year.
Joining PSG allows Lucas to not suffer the burden of being one of the best players on his squad. With players like Ezequiel Lavezzi, Javier Pastore, Thiago Silva and Zlatan Ibrahimovic all on PSG, any blame the French club may get would be shared with these stars.
This is something Lucas has never dealt with before. Instead of being hounded by pressure, he will be allowed to focus on developing his football skills at one of the world's best clubs.
When Lucas decided to join PSG, it put him in a position which would allow him to develop on one of Europe's top clubs.
There are very few players who are as talented as Lucas who will also be transferring to a club with the star talent PSG has this winter.
Furthermore, developing in a European league will allow Lucas to perform on the international stage with Brazil.
Many of the Brazilian players who will be a part of Brazil's squad during the 2014 World Cup are playing domestically, which puts them a step behind their European opponents who play each other on a regular basis.
Lucas will get the opportunity to compete against many of Europe's top players with this move, which will allow his game to improve to an extent that should see him become one of the biggest stars of next year's World Cup.
It never hurts any player to be surrounded by some of the world's best footballers. Lucas will get this opportunity during every training session and match with PSG.
This talent and the relaxed physical atmosphere of Ligue 1 will allow Lucas to develop his skills to a greater extent compared to the young players who are transferring in the Premier League.
Over time, this situation will allow Lucas to become one of the most successful players to complete a winter transfer.
Considering he will probably get a starting role once Nene leaves PSG in the coming weeks, Lucas will have the opportunity to show he is the steal of this transfer window.