It’s 6pm on Thursday, where are you? Most Americans are enjoying a Thanksgiving meal with friends and family while some are lining up outsides retailers doors hungry for savings. It makes you wonder, are the doorbusters deals saving you money?
Last holiday season, according to USA Today, “An estimated 205 million Americans went shopping last year over black Friday weekend.” Black Friday is known for the having the lowest prices of the year, however, it is the worst time to shop because of the insane crowds of shoppers all searching for savings.
The retailer’s job is to attract customers into their doors by offering a few products at a low discounted price, while the majority of their items are left without a discount. By doing this, the retailers have dragged you into their stores for the “deals” you came in for; however, you still end up purchasing something else even if it is not on sale.
Black Friday retailers are known for offering deals with limited quantities. Some dedicated shoppers camp outside so they do not miss out on these doorbuster savings. Sometimes the retailers offer lower-quality merchandise for Black Friday called derivatives. These derivatives are made with cheaper materials in order for retailers to offer low prices. Not all products sold are derivatives, but you must always be aware if the product you’re purchasing is the real deal or not.
A study conducted by the Wall Street Journal studied product pricing throughout the year and found out that “most items are offered belowBlack Friday price points at different times throughout the year,” Backman noted. It was found that the best time to buy a TV is not on Black Friday but rather the week before the Super Bowl, and the best time to buy jewelry is after Valentine’s Day for the lowest prices.
Stores may hand out discounts on Black Friday and throughout the Holiday season, but before checking out in stores and online, make sure you are only buying what you need and you’re not overpaying.
If you shop smart, you may just find a good deal.
Work Cited
Backman, Maurie. “Is Black Friday a Scam?” USA Today. Gannett, 17 Nov. 2016. Web. 20 Nov. 2016.