While you plan your Thanksgiving menu, you’re sure to be bombarded with ads for Black Friday deals. If you were an alien landing on Planet America for the first time on November 15, you’d be forgiven for not realizing that Thanksgiving was a holiday at all. Perhaps you’d think it was something like a traditional meal given to soldiers for strength before heading into battle at the shopping mall — the real focus of the weekend and the initial foray into the holiday season.
Love it or hate it, Black Friday as a retail institution doesn’t appear to be going away anytime soon. Despite recent changes to extend sales by having earlier start times and allowing shoppers to buy online instead of in person, Black Friday is still a popular event and has become a tradition in its own right — and it really does bring in big bucks for retailers.
But is it worth it for you?
That’s a question that you’ll have to answer based on your temperament and your wallet. Here’s what you should think about as you decide whether to set your alarm or sleep off the tryptophan on Friday morning.
What Are You Shopping for?
Not everything is actually on sale on Black Friday, and stores will use a lot of psychological tricks to get you in the door with one cheap item so that you’ll buy more than you ordinarily would.
In general, Black Friday sales offer legitimately good deals on consumer electronics, appliances and video games. You might also see some savings on clothing and toys, but these are not usually at rock bottom prices during the holiday season.
What’s more, not all electronics and appliances are discounted equally. That new video game console might be super-cheap on Black Friday, but the television you hook it up to might not be at its lowest price of the year in November. For a new TV, Consumer Reports recommends waiting until February, when retailers are getting rid of last year’s models.
To make sure you’re getting a truly good deal, you can do two things. First, shop for big-ticket items at the right time of year — typically at the end of its season or just before new models come out. Second, do your homework. The internet is an amazing tool when it comes to saving money, so take advantage! Try some price comparison websites to understand price trends and make sure you’re getting a real deal on Black Friday.
Should You Wait Until Cyber Monday?
Cyber Monday is the online answer to Black Friday sales at brick-and-mortar-stores. The idea is that — back in the days of slow dial-up connections — people went back to work after Thanksgiving weekend and did their online shopping on their faster work computers. Once online stores figured that out, they branded the day and started offering big sales to compete with big box stores.
Cyber Monday has major advantages: You get to relax and enjoy your weekend without braving the crowds at the mall, for starters. You also don’t have to wait in line with hundreds of strangers in the cold and the dark and risk getting caught in one of those ugly stampedes that always show up on the news on Black Friday evening. It’s also way easier to run those price comparisons online than it is to try to do it on your phone in the middle of a frenzied crowd, and you won’t feel the peer pressure to snap up items just because that’s what everyone around you is doing — that’s psychological effect of “limited quantities” at work.
There are some drawbacks, though. For starters, there’s no guarantee of free shipping on Cyber Monday, and you could easily negate your savings with shipping charges if you aren’t careful about the math. You also need to pay very close attention to how long it takes to ship the items you’ve purchased — and add a few days cushion just in case so you don’t even up with sad faces on Christmas morning.
Only you can decide your comfort level with buying things online that you haven’t had the chance to see/test drive/try on in person. If you’re nervous, make sure to carefully read the return policy — including any additional shipping charges — and stick to items that make the most sense to buy online.
Do You Actually Like Shopping?
Some people are totally energized by the excitement of waiting in line and making a mad dash to the shelves that hold their favorite items. They like being in large crowds. They enjoy the thrill of the chase, the satisfaction of bargain hunting and the efficiency of getting their whole shopping list knocked out in one big day.
If this sounds like you, then Black Friday is definitely your jam — and you should enjoy it! Just makes sure that you take steps to protect yourself from overspending:
- Do Your Homework: Fire up your computer a day or two before Thanksgiving and research those prices to make sure you’re getting the best deal possible — the splashiest ads aren’t always the ones with the lowest prices. Comparison shopping is your best weapon.
- Make a List: If you go to the mall thinking you’ll browse on Black Friday, you’ll be miserable. It’s too crowded to enjoy a leisurely shopping trip, and you’ll almost certainly fall victim to impulse buys of items that aren’t on sale. Go grab the deals you want and leave the rest for later.
- Check the Model: Many retailers trot out last year’s overstocked items during Black Friday to get rid of inventory. That’s not a big deal if you don’t care about being on the cutting edge of every minor technological advance, but do make sure your electronics have the features you want before you add it to your shopping cart.
And if the idea of fighting the crowds on Black Friday makes you want to hide away in bed under the covers, you can do that too! There’s no reason to shop in person if you prefer to do so online, and you’re sure to find a decent deal on just about anything if you’re savvy about comparing prices.
So how will you spend Black Friday this year? Let us know in the comments!
