The period between Thanksgiving Day and Cyber Monday is known for being one of the busiest shopping times of the year. The National Retail Federation’s annual survey predicts that this year, there will be a record number of shoppers both in stores and online during this time.
However, not all Black Friday deals are as great as they seem. According to WalletHub’s report, 35% of items at major retailers offered no savings compared to their pre-Black Friday prices. This can be due to retailers inflating original prices to make the deals look better.
Adam Davis, managing director at Wells Fargo Retail Finance, mentioned that retailers are trying to maximize selling days, which has somewhat diluted the significance of Black Friday and other holidays. With a shorter selling season between Thanksgiving and Christmas in 2024, retailers may be more promotional in November.
Consumers are increasingly concerned about shipping delays, especially around big shopping days like Black Friday and Cyber Monday. Third-party shippers are strained due to high volume and an ongoing labor shortage, which means that deliveries may be delayed or even lost.
When it comes to Black Friday discounts, consumers can expect markdowns ranging from 20% to 50%, depending on the retailer. Premium brands may not offer discounts higher than 20% or 30% to maintain their brand integrity. Retailers will also offer incentives such as free gift cards or bonus rewards to attract shoppers.
While Black Friday is a great time to find low prices on fall clothing, televisions, and consumer electronics, it’s better to wait for Cyber Monday for beauty and footwear deals. Travel Tuesday is ideal for discounts on airfares and trips, while the last two weeks of December are better for buying toys.
To get even lower prices, consumers can use price-tracking browser extensions like Honey or Camelizer, compare prices with the ShopSavvy app, and stack discounts by combining credit card rewards with coupon codes and cash-back sites. Additionally, paying attention to price adjustment policies can help shoppers save money even after making a purchase.
With these tips in mind, consumers can make the most of Black Friday deals and ensure that they are getting the best prices possible.
