Before heading out to the mall during the pre-dawn hours with a post-Thanksgiving hangover, arm yourself with some shopping strategy and knowledge—like that a “sold out” sign may be just a marketing ploy, and that you don’t have to wait for Black Friday for great Black Friday-esque deals.
As the biggest shopping day of the year approaches, here’s what we know:
You can make your shopping list now. There have been a bunch of circulars leaked early to various shopping sites, but by now, most retailers have just gone ahead and posted their ads on their own websites. For sneak peaks, head to the website of IKEA or any retailer you like to scope out the deals. Better yet, BlackFriday.info maintains a comprehensive list of Black Friday ads for just about any retailer you can imagine.
Cash-only is the hot trend. According to a survey (via WalletPop), 28.3% of consumers say they’ll be using credit cards this holiday shopping season, down from 31.5% last year. The number of people surveyed who say they’re only going to use cash increased correspondingly. Perhaps they’re buying into the Dave Ramsey-type cash-only approach to avoiding debt, or perhaps their credit card accounts have simply been closed. Also a hot trend: shoplifting.
No one will be trampled to death (hopefully). Retailers have stepped up with strategies to control the madness and prevent the senseless accidents that made news last Black Friday, per the Times.
Price wars are fierce, but flukey. The toughest competition we’ve seen involves books from bestselling authors and new-release DVDs. While the prices are great ($10 or under from Amazon, Target, Sears, and Wal-Mart), the bargains have been limited to ten new books and ten new DVDs only, and the best prices have been for online orders only. That leaves a lot of products not involved in price wars. If you’re interested in either of these price wars, however, check out Sears, which is giving bonus discounts for the books and DVDs in question, even if you’ve bought them already from a Sears competitor.
Your chances of snagging the best door buster deals are slim. When it comes to the really nutty, nearly-giveaway deals, some stores have only a few of the advertised items in stock on Black Friday, and they are obviously snatched up quickly. The limited-quantities fine print is a way for stores to pull what amounts to a bait-and-switch, according to CNN. No rainchecks either.
The “sold out” sign may be a marketing ploy. A study shows that people are much more likely to want an item if they hear it is sold out. This is why some retailers may deliberately understock certain items or leave the shelves empty for a while, per CNN. Luxury retailers most certainly manipulate their supply so they can create an air of exclusivity and keep prices high.
Black Friday is no longer a one-day thing. Sears and Macy’s, among other retailers, have been offering Black-Friday-style door buster sales and giveaways since before Halloween.
You don’t have to wait until daylight. Among the other good info provided by Consumer World’s “How to Save on Black Friday 2009” post, see #5 on the list. Toys R Us and the Prime Outlet malls are opening at midnight on Thanksgiving night, Wal-Mart is open for 24 hours a day (though sales start at 5 a.m.), and other retailers are opening at like 3 a.m. Old Navy at 3:30 in the morning: Now that’s got to be surreal.
Lots of bargain-hunters will not “do” Black Friday. Based on the comments from this Wise Bread post. Sample comment: “Saving over the year is the best deal you can get. Skip Black Friday and spend it with your family instead.”
Black Friday and Cyber Monday have got competition. The upstart shopping event is Free Shipping Day. It’s Thursday, December 17, a day when shipping will be free for orders placed at as many as 500 retailers.
Black Friday is also Buy Nothing Day. The anti-consumer event started by AdBusters coincides—not so coincidentally—with Black Friday in the U.S. Participants are encouraged to sit around, turn off their lights and non-essential appliances, and above all, not buy stuff to “bring the capitalist consumption machine to a grinding—if only momentary—halt,” in the words of organizers. A few demonstrations are planned at malls and stores around the world.
Related:
Have Yourself a Merry Anti-Consumer Christmas
Black Friday: Also the Best Day to Buy Cars and Invest in CDs?
Cash: The Perfect Gift