One of the most eagerly anticipated shopping days of the year is Black Friday. It’s a day when many products are heavily discounted by retailers, so it’s a perfect opportunity to score some amazing bargains. Nevertheless, navigating Black Friday sales can be overwhelming, and if you don’t have a plan, you risk going over budget or skipping out on the best offers.
We’ve got all the advice you need to spend your money sensibly on Black Friday in this in-depth guide, so you can take full advantage of this shopping extravaganza without going over your budget.
The origin of Black Friday
Black Friday has many theories linked to its name, and it dates back to the early 20th century. There is a popular mix-up that the term Black Friday comes from the 1869 financial crisis following the collapse of the US gold market.
The more widely acknowledged theory, on the other hand, states that it started in Philadelphia in the 1960s. The phrase was formed by local police officers and bus drivers to give name to the chaos and jam that came from a massive rush of shoppers and tourists onto the streets the day after Thanksgiving.
Afterwards, retailers welcomed the phrase and gave it a positive connotation to herald the beginning of the holiday shopping season with substantial markdowns. The moniker stuck, and eventually it expanded to become a national shopping extravaganza in the US and abroad, developing into what is now known as Black Friday.
When is Black Friday 2023
Black Friday is basically the fourth Friday of November every year, and in 2023, it falls on the 24th. To make it even easier to remember, it is the day after Thanksgiving Day in the United States. Black Friday is the unofficial start of the holiday shopping season, and it’s a day when the majority of retailers offer gigantic discounts and deals on a wide range of products, making it the most-desired day for shoppers looking to grab the best bargains.
Planning Your Black Friday Strategy
1. Set a Budget
We all eagerly wait for Black Friday, but that doesn’t mean we need to spend all our budget in one single day only for the sake of saving. So, it is a good idea to set aside the money you want to spend before purchasing, and most importantly, stick to it. This will help you avoid impulse purchases and overspending. This way, you can use your money without getting caught up in the euphoria of discounts, which is kind of impossible, but that’s why we’re here to discuss, aren’t we?
2. Prioritize Your Shopping List
Create a shopping list that includes items you genuinely need or have been eyeing for a while. Prioritize your list based on necessity and how much you can save on each item, and don’t get tricked by the percentage. For example, a 50% discount on a 30-dollar product seems tempting, but you only save 15 dollars, and you might not even need it. But a 25% discount on a 100-dollar product saves you 25 dollars on a product that is useful to you. This way, you’ll focus on what matters most and avoid getting distracted by tempting but unnecessary purchases. Your list might include electronic gadgets, appliances, clothing, jewelry, or even early holiday gifts.
3. Research in Advance
Many retailers release their Black Friday deals ahead of time. Take advantage of this and research the items you plan to buy. Compare prices, read reviews, and check the specifications. Use this information to your advantage to have a better understanding of what to buy, where to buy, and how much to spend on each item. Don’t end up going to the shop or surfing the shopping sites on the internet without having a clue and ending up buying items that will make you regret your decisions.
4. Timing is Everything
Black Friday sales often start early in the morning, but is it really a one-day discount? The answer is “no.”. A vast majority of online retailers start their Black Friday discount on the Monday before Thanksgiving, which is 4 days before Black Friday, and last all the way to Cyber Monday. In this case, you should consider making your purchases before the actual Black Friday to avoid out of stock products.
As for in-shop buyers, keep in mind that the rush hour is from the opening of the shops until the lunch break. If you want a more “relaxed” shopping experience, you should go in the afternoon or evening, but it will still be crowded, and there is always the disadvantage of out-of-stock items.
Getting the Most out of Black Friday
5. Online vs. In-Store Shopping
Hmmm… another shopping dilemma, in-store or online. Well, both options have their advantages. In-store shopping allows you to touch the product, use testers in some cases, or ask for assistance for more details in real time. All of that makes the experience more tangible on every level.
On the other hand, online shopping provides convenience and eliminates the need to wait in long lines. Also, some buyers are intrigued by the waiting time and look forward to it as if it were a birthday gift. Based on this point of view, you can decide to divide your shopping items into these two categories. Seems like fun, doesn’t it?
6. Use Price Comparison Websites
Several websites and apps are designed to help you find the best deals. Use price comparison tools to ensure you’re getting the lowest price available. They can help you quickly identify the best offers of the moment without spending hours on several websites or opening countless tabs on your browser. You will also receive suggestions for similar items with a much better price and possibly better features. Price.com, Goggle Shopping, or Shopzilla are some ones you can rely on.
7. Consider Your Loyalty Programs
Check to see if the stores you’ve eyed have these enticing loyalty programs waiting for you before embarking on your Black Friday shopping spree. Consider it as getting ready for a major adventure and supplying yourself with the necessary tools to meet the thrilling obstacles that lie ahead. If you discover that these programs are actually offered, don’t think twice about signing up in advance. It’s similar to getting your VIP pass to a world of discounts secured. Sign up for those loyalty programs, and let the magic of savings and appreciation be your loyal companions on this retail adventure. Happy shopping!
8. Bundle and Save
Some discounts come in the form of bundle deals; if you get the set, the price drops significantly. This can be an excellent way to save money, especially if you’re buying products that complement each other. There is a common drawback: one of the items in the bundle may not fit your needs, but you can sell it to your acquaintances for a lower price, or you can give it as a small gift. Because…why not? So, be on the lookout for these bundle deals, as they often offer substantial savings.
Staying Safe and Secure
9. Be Cautious of Scams
While Black Friday offers incredible deals, it’s also a prime time for scams. We often receive “too good to be true” offers in our inbox throughout the year, and, of course, we instantly move them to the spam folder. However, during Black Friday, these “fantastic” deals might seem more realistic. Our take on this is to rely on reputable websites or shops you have already purchased from. Don’t click suspicious links or download attachments from unknown sources. Stay safe!
10. Secure Your Personal Information
When shopping online, ensure that the websites you visit are secure. Look for “https” in the web address and a padlock icon in the browser’s address bar. Avoid making purchases over public Wi-Fi networks, as they may not be secure and steal personal data such as passwords and bank information. It’s also a good practice to create strong, unique passwords for your online shopping accounts or use an authenticator app for extra security.
11. Keep Track of Your Spending
As you make purchases, keep a record of your spending. This will help you stay within your budget and avoid any financial surprises when your credit card statement arrives. Many budgeting apps can assist you in monitoring your spending in real-time. Additionally, regularly checking your credit card or bank statements can help you spot any unauthorized charges quickly. Luckily, every bank has its own app, and we can see the amount changing in real time.
Post Black Friday Considerations
12. Review what you have bought
Take some time to review your purchases when the shopping rush is over. Make sure you’re happy with everything you bought, and consider returning any items that you regret. Keep what you truly need and make the most of your Black Friday haul. Also, check for any damage or defects in the products you purchased and initiate returns or exchanges if necessary. Some of the products don’t allow changes or returns, so make sure they are not damaged at the moment of the purchase.
13. Plan for the Future
Black Friday is a great opportunity to make purchases for the upcoming year. Consider buying gifts for birthdays, anniversaries, or other special occasions. You can also invest in items you’ll need in the near future, such as upgrading your appliances, electronics, or even buying new clothing for the next season. This forward-thinking approach can save you money in the long run and help you avoid paying full price later.
In Conclusion
If you prepare ahead of time, prioritize your needs, and keep an eye out for the best deals, Black Friday shopping can be thrilling and fulfilling. You can make the most of this shopping extravaganza while managing your finances if you plan ahead and conduct thorough research. It is important to keep in mind that the objective is not only to save costs but also to make well-informed decisions about what you need and want. I hope you have a fantastic Black Friday full of amazing sales and discounts! Happy shopping!
FAQs
How can I learn about Black Friday sales ahead of time?
By visiting retailer websites, subscribing to their newsletters, and following them on social media, you can learn about Black Friday deals. Furthermore, a lot of websites compile Black Friday advertisements from different stores, giving you access to a single, comprehensive source of data. To get the most recent updates, FlameDeals is a worthwhile try.
Are there any Black Friday sales going on for any particular products that I should watch out for?
Although a wide range of products are covered by Black Friday deals, certain categories typically have exceptionally good savings. Toys, apparel, appliances, electronics, and toys are frequently marked down significantly. If you want to save a lot of money, keep an eye on these categories.
How can the stress of shopping on Black Friday be avoided?
Make a budget, a shopping list, and an advance shopping plan to reduce stress. Depending on your preferences, choose between online and in-store shopping; then, utilize price comparison tools to locate the best offers. You can lessen the stress of Black Friday by being prepared and organized.