Black Friday is a bargain-hunter’s dream, but it’s a game that has to be played right. Follow these hacks to ensure you get the most out of the biggest shopping day of the year.
The first key to Black Friday success is starting your research ahead of time. Many stores release Black Friday ads well in advance, allowing you to preview the upcoming deals. By reviewing these ads early, you can compare prices across different retailers and make a plan for the items you want to buy. A great strategy is to create a list of must-have items and keep track of their prices in the weeks leading up to Black Friday.
Make a budget and stick to itWith all the tempting offers during Black Friday, it’s easy to overspend. That’s why it’s so important to set a budget before you start shopping. Decide how much you’re willing to spend overall and allocate amounts for specific items.
Impulse buys are one of the biggest dangers during Black Friday, especially when flashy discounts are involved. Sticking to your budget will keep you focused on the deals that matter most and help you avoid having post-shopping regret.
Get followingIf you aren’t already doing so, be sure to follow your favorite retailers on social media. Sign up for email and text alerts, too. This way, you’ll be the first to know about their upcoming sales and deals.
You may also want to join your favorite retailers’ loyalty programs. Many retailers offer exclusive early access to Black Friday sales for their subscribers or members. In some cases, loyalty program members can even get special “doorbuster” deals or free shipping on Black Friday.
Use apps and websites for price comparisonsDuring Black Friday, it’s important to compare prices from different retailers to make sure you’re really getting the best deal. Lucky for you, there’s an app for that! Tools like Google Shopping, PriceGrabber and ShopSavvy let you scan barcodes or search for products to see how prices stack up at various stores.
Check an item’s pricing historyDon’t just assume every price you encounter on Black Friday is actually being sold at a great discount. Check the price history of any product on price-checking websites like Keepa, Honey and CamelCamelCamel to see the item’s original price and whether it’s really being sold at a significant discount.
Stack couponsOne of the lesser-known Black Friday hacks is coupon stacking. Some retailers allow you to combine multiple coupons or promotions on top of Black Friday discounts, which can lead to steep savings.
If you're shopping online, try searching the web for discount codes to double your deals.
Focus on big-ticket itemsBlack Friday is often the best time to buy big-ticket items like electronics, appliances and furniture. Retailers tend to offer their steepest discounts on high-value products during this time, which means it’s your chance to save hundreds of dollars.
If you’ve been waiting to buy a new TV, laptop or kitchen appliance, Black Friday is a great time to go for it. Just be sure to do your research on these items ahead of time to ensure you’re getting the best deal possible.
Know the store’s return policyBefore finalizing any Black Friday purchases, make sure you understand the store’s return policy. Some retailers have different rules for items bought on Black Friday, including shorter return windows or restocking fees. Knowing the return policy can give you peace of mind if you’re unsure about a purchase or if the item ends up being defective.
Use our hacks to get the most out of Black Friday this year! And, if you enjoyed this article, be sure to check out the rest of our MoneySmart Tips Blog.