Some Black Friday sales may not be as good as advertised, so here's what to avoid purchasing.
- Retailers tempt shoppers with incentives and discounts between Black Friday and Cyber Monday.
- According to shopping experts, these prices may not be the cheapest of the year.
- Avoid purchasing these items on Black Friday and discover ways to secure even better deals afterwards.
Retailers hype Black Friday sales, and it works.
According to the National Retail Federation's annual survey, the number of people shopping between Thanksgiving Day and Cyber Monday could reach a new high this year.
Despite the belief that consumers are getting the lowest prices of the season, that may not be the case.
Major retailers offer no savings on 41% of items during Black Friday, according to WalletHub's 2024 report.
The average discount on sale items is 24%, as compared to Black Friday advertisements on Amazon.
Don't fall for deceptive deals
Consumer savings expert Andrea Woroch stated that some Black Friday deals are misleading because retailers may inflate original prices to make a deal appear to be a better value.
Rewritten: According to R.J. Cross, a campaign director at PIRG, a nonprofit consumer advocacy research group, tactics that create urgency to buy can be effective even when the discount isn't significant.
Some Etsy sellers use fake countdown timers on deals that don't expire, according to PIRG.
Etsy did not immediately respond to a request for comment.
Retailers and advertisers consistently attempt to persuade consumers to purchase more than they require and spend more than they desire, according to Cross.
Expect up to 30% off on Black Friday
This year, some of the deals are already at their best.
Retailers are maximizing their selling days by watering down holidays, according to Adam Davis, managing director at Wells Fargo Retail Finance.
"Davis stated that you will likely observe discounts of 20% to 30%, but not necessarily across all stores."
This holiday season, millennials plan to spend big on festivities.
According to Lauren Beitelspacher, a professor of marketing at Babson College, some retailers could offer markdowns of up to 50%.
Premium brands, including high-end activewear companies such as Nike, Alo, and Lululemon, are likely to maintain their brand integrity while offering promotions of no more than 30%, said the expert.
In addition to offering discounts, many stores will entice shoppers to spend more with incentives such as free gift cards with a minimum purchase, said Woroch.
What not to buy on Black Friday
Black Friday is an excellent opportunity to purchase fall clothing at unbeatable prices, such as flannels, denim, coats, and accessories, in addition to televisions and consumer electronics.
Woroch advised against purchasing beauty and footwear on Cyber Monday.
This year, "Travel Tuesday" can be a great opportunity for travelers to take advantage of discounts on airfares, cruises, and tour packages, with many hotels offering 20% to 30% off their best available rates. To learn more about the deals available, travelers can check out the "Travel Tuesday" offers for 2023.
According to Woroch, it could be advantageous to wait until the last two weeks of December to purchase toys, and holiday decorations are more affordable the last few days before Christmas or immediately after.
Furniture and mattress deals are typically better during holiday weekends such as Presidents' Day, Memorial Day, and Labor Day, while exercise equipment, linens, and bedding are often marked down during January's "white sales," she stated.
How to get the lowest prices of the season
Using a price-tracking browser extension like Honey or Camelizer can help you monitor price changes and notify you when prices drop. Honey also scans for applicable coupon codes.
If you're shopping in person, use the ShopSavvy app for price comparisons. If an item is cheaper at another store or popular site, retailers often match the price, according to Woroch.
Combining credit card rewards with coupon codes and a cash-back site such as CouponCabin.com will earn money back on those purchases. Additionally, taking pictures of your receipts using the Fetch app and redeeming them for points can be used to purchase gift cards at retailers such as Amazon, Target, and Walmart.
Finally, experts urge consumers to pay attention to price adjustment policies.
You may be able to request a price adjustment if an item you buy during Black Friday goes on sale for less shortly after, according to Woroch. Some retailers, such as Target, have season-long policies that may apply to purchases made up until December 25.
Investing
You might also like
- Some Black Friday sales may not be as good as advertised, so here's what to avoid purchasing.
- The majority of Americans view something other than wealth as the primary indicator of success.
- Before they pass away, Warren Buffett advises all parents to do one thing, regardless of their wealth.
- 'How little do some kids know about money?' Highlights of viral 'teenager texts' reveal.
- Experts predict millennials will have a positive outlook during the holiday season.