Black Friday has become the unofficial kickoff to the holiday shopping season, drawing millions of eager shoppers in search of the best deals. For retailers, it’s a goldmine—Black Friday and the subsequent holiday period contribute a significant portion of their annual sales. In fact, holiday sales in 2017 alone reached an astounding $691.9 billion, with Black Friday contributing $7.9 billion in online sales alone, according to Adobe.
The hype surrounding this shopping extravaganza is undeniable, but are the savings as substantial as they seem? Let’s break it down:
Discounts: Are They as Big as They Claim?
Many shoppers wonder if Black Friday discounts truly deliver the best value. The answer? Generally, yes. The average in-store discount around Thanksgiving is about 20%, climbing to roughly 37% on Black Friday itself. Online deals mirror these trends with average discounts of 34%.
However, Black Friday isn’t your only chance to score significant savings. In the weeks leading up to the big day, many retailers, including Amazon and Best Buy, offer comparable deals to attract early shoppers. To maximize your savings, research is key. Identify when specific items hit their lowest prices and keep an eye on sales throughout the season.
Doorbusters: Too Good to Be True?
Doorbuster deals—those jaw-dropping offers on limited items—are a Black Friday staple. While they can provide huge savings, quantities are often extremely limited. For a better shot at snagging these deals, focus on online doorbusters, which typically have a larger supply.
Beware of Misleading Discounts
While many Black Friday deals are genuine, some retailers inflate their discounts to make offers seem more enticing. A 2016 NerdWallet study found instances of inflated “compare at” prices that misled shoppers about the true value of the discounts. Always compare prices and check the history of an item’s cost to ensure you’re getting a legitimate deal.
Make Smart Choices This Holiday Season
Black Friday can be an excellent opportunity to save if you shop strategically. Research deals, avoid being swayed by misleading promotions, and consider alternative gifts like financial contributions to a loved one’s future.
Happy holidays and happy bargain hunting!
