The day after Thanksgiving has long been known as the busiest and best shopping day of the year. Retailers of all sizes promote “amazing” deals that are supposedly better than any other time. Traditionally, shoppers have really bought into these deals with many hitting the stores in the wee hours of the morning on Thanksgiving night to try and save a buck. Last year, in fact, retailers pulled in $7.9 billion from 77 million in-store shoppers on Black Friday!
But, is the stress and crowd fighting really worth the money you save? Here are some reasons that staying home on Black Friday may be your best bet.
Doorbusters are Limited
Retailers are notorious for putting out Black Friday ads promoting Doorbusters, aka: really discounted items, as a way to get you in the door. The problem is, most of these specials are only available in extremely limited quantities. Unless you are one of the first in line (and possibly willing to throw a punch or two) it’s unlikely you’ll score one of these deals.
The discounts may not be any better than normal.
Throughout the year and holiday season, retailers regularly run sales. Some are even better than their Black Friday deals when they already know they will be busier than usual. 30% off your entire purchase sounds appealing, but stores like these will commonly run even better sales (think 40%+ off) on other days.
Black Friday now lasts all week.
Many retailers are opting to run great deals the entire week of Thanksgiving, not just on Friday. Be sure to scour the ads and online ahead of time so you know if you could save even more shopping on Monday, Tuesday or Wednesday.
Beware of unknown brands.
These days, there are specific goods being made to sell on Black Friday, particularly electronics, and many come from unknown brands. These goods are designed to be sold at discounted prices and have likely never been sold before. So, the savings they are promoting off an MSRP are very relative, as they’ve never been purchased and nobody has ever paid “full price”. They also tend to not have any reviews, so you make a purchase unsure of how well the item will perform.
Cyber Monday is taking over.
Cyber Monday is the internet’s version of Black Friday and occurs the Monday after Thanksgiving. Is there anything better than getting Black Friday deals from the comfort of your own couch? What makes it even better? A large majority of online retailers will offer free shipping as a way to entice you. You can even combine these deals with cash back websites like Ebates to increase your savings even more.
In comparison to Black Friday, Cyber Monday tends to offer more “blanket discounts” where the entire site or category will be on sale. Black Friday tends to be better when it comes to offering steep discounts on very specific items in particular categories.
What’s on your list?
Depending on the items on your shopping list, you can still score some great deals on Black Friday. Typically, electronics including televisions, cameras, and mobile phones will offer good deals for the shopping holiday. Video game consoles and toys will also offer discounts, but these may get better in the weeks leading up to Christmas. Items like clothes, furniture and workout equipment can typically be found cheaper on other days.
There are certainly plenty of us who simply love the act of shopping on Black Friday. It can be exhilarating and a great way to welcome in the hustle and bustle of the holiday season. If this sounds like you, then enjoy the adventure! Just be careful in assuming that just because it’s a Black Friday deal that it’s the best deal available.
Saving money can be difficult, especially around the holidays. Eastex wants to help you save any way we can, contact us money saving tips and strategies!