5 Tips to Get the Best Deal on Black Friday
02 November 2017
02 November 2017
Black Friday was actually started in Europe not the States contrary to what we believe in North America. Black Friday is the Friday right after U.S Thanksgiving which is November 24th this year. If you want to know more about the history of Black Friday you can check out this article from the Mirror that sheds some clarity.
We all know that retailers depend heavily on a successful Black Friday to make their years targets. If it is not successful then the retailer has to take even deeper discounts at Christmas to move more inventory and increase sales. So, all retailers try to do their very best for Black Friday.
Last year after Black Friday , retailers would have analyzed what they sold and plan how they can repeat those sales or increase sales the next year. Retailers are famous for looking at last year’s results as a starting point to be better the next year. So, if you noticed a retailer that had an amazing sale last Black Friday then you can bet they will do it again.
Make a list of what you might want to buy on Black Friday weeks before. It could be something that cost under $10.00 to whatever $$$$$$. It could be for everyday use or what you need to buy for Christmas. Perhaps something for yourself??!!!
Try to remember who had great prices last year for those items and add that to your list.
Do all the heavy work a few weeks before Black Friday.
Take your list and start looking on the web and visit brick and mortar stores. Then you know the regular and sale prices. Sometimes this can get confusing if the retailer sells high/low ( likes doing Save Stories) or are every day low.
A word of caution…. I am sure you figured out that everyday low does not mean it is the lowest. For example ” ROLL BACKS” is a common marketing tactic for an everyday low retailer. Obviously the everyday price retailers need to compete against the heavily discounted items during Black Friday so they will do price reductions but camouflage it a bit.
Figure out the size you need a head of time.
This could reference to apparel but also for electronics, appliances and even toys.
If buying apparel, visit your favorite stores and try on clothing that you might consider to buy when it goes on sale for Black Friday. You will be quicker buying when you know the size you need! Or in the morning you can simply order it on line.
Measure to see if that big TV fits on the wall or that the fridge fits in the cavity between the cabinets. ( read more on buying fridges on another post). Check that the big kiddie centre fits in the allotted space. Make sure the mattress can fit up the stairs. You get the idea!
Knowing the right size also means you can confidently by on the internet and know you don’t have to deal with the return. Plus, the eCommerce store may have all the sizes you need compared to the brick and mortar store.
Go the stores a few weeks before Black Friday to ask questions to get more knowledge on products.
I have a special camera lens that is on my want list so I went in this week and tried it out. The sales person had the time to spend with me . Plus, I could try out different lens to see if I was the right lens. You could never expect that kind of service on Black Friday. Plus, I checked out to see if they have lots of stock. ( I asked if it was going on sale??? A big secret was shared)
Find out when the Good Friday Sale starts.
Some retailers start their sales on a Thursday because that is their normal start date for sales. Admittedly they may have something that will be extremely discounted for One Day Only but often the sales person will share that. Remember they want you to be happy and not have a return to deal with.
If you absolutely have to buy something just before Black Friday then check with the retailer to see if they do price adjustments. Their normal policy maybe for one week or up to three weeks. However, I have stumbled over retailers where their normal policy does not include Black Friday. Also retail stores don’t always do price adjustments if the product was purchased on line.
Often retailers will work with their suppliers to create a product that will knock the socks off their customers. The retailers will bring the item in just for Black Friday to draw in more customers. It may not have a regular price just a hot price or a limited time offer.
This could also be considered a lost leader. A lost leader is when the retailer knows it won’t make a lot of money off it but it will bring the customers into the store. This is why I strongly suggest you know regular and sale prices before Black Friday. You can spot a legitimate good deal!!
If you have any questions then please send us a comment below and I can hopefully answer it.