Strolling along New York’s Fifth Avenue on Black Friday can be quite an experience, as captured by Bloomberg. Retailers pull out all the stops to promote Black Friday deals, and it seems to work wonders. The National Retail Federation’s annual survey predicts record numbers of shoppers from Thanksgiving through Cyber Monday this year. However, the promise of the lowest prices isn’t always a reality.
WalletHub’s 2024 report on Black Friday bargains reveals that about 41% of products at major retailers aren’t actually marked down from their pre-Black Friday prices. For those items that do get a discount, the average reduction is approximately 24%, as observed by comparing these seasonal promotions to Amazon prices earlier in the fall.
### Beware of Misleading Discounts
“Black Friday deals can sometimes be more puffery than savings, as retailers might jack up original prices to make discounts appear more attractive,” says Andrea Woroch, a consumer savings expert. This can lead to a false sense of urgency to buy, notes R.J. Cross from PIRG, which advocates for consumer interests. Strategies like displaying the number of people eyeing a product or fake low-stock alerts are common. Etsy sellers, for example, sometimes employ phony countdown clocks on promotions that don’t actually expire, although Etsy didn’t comment on this claim.
“Retailers and advertisers use such gimmicks year-round to encourage more spending,” Cross adds.
### Anticipating Discounts Up to 30%
This year’s deals might be nearing their peak well in advance. “Retailers look to stretch the selling days, which may dilute the once-mighty impact of these shopping holidays,” says Adam Davis of Wells Fargo Retail Finance. Discounts ranging from 20% to 30% are not uncommon, though they might not apply storewide. “Premium brands,” according to Babson College’s Lauren Beitelspacher, “such as top athletic wear labels, probably won’t go beyond a 30% discount.” The challenge remains balancing brand prestige with promotional pricing.
Retailers often entice shoppers with additional perks, like gift cards with minimum spends, adds Woroch. Some also offer bonus rewards on Black Friday purchases.
### Items to Consider Skipping on Black Friday
Look for unbeatable deals on fall apparel—think flannels, denim, coats, and accessories—as well as electronics like TVs during Black Friday. Woroch points out that beauty products and shoes might be better buys on Cyber Monday.
When planning your next getaway, “Travel Tuesday” offers opportunities for significant savings on flights, cruises, and holiday packages, with many hotels slashing rates by 20% to 30%. Reviewing past Travel Tuesday offers can give you a hint of this year’s potential deals. For toys, consider holding out until mid-December, and holiday decorations become more affordable just before Christmas or in the aftermath. Meanwhile, January’s “white sales” often bring discounts for linens and fitness gear, while furniture and mattresses typically see price drops around Presidents’ Day, Memorial Day, and Labor Day weekends.
### Strategies for Securing the Season’s Best Prices
Woroch advises using browser extensions like Honey or Camelizer to track price fluctuations and get alerts when costs drop. Honey can also help by applying relevant coupons automatically. For those shopping in-store, the ShopSavvy app provides price comparison features—handy if another retailer offers a better deal and the store is willing to match it.
Moreover, maximize savings by layering discounts—using credit card points along with coupon codes and cashback portals like CouponCabin.com. Afterward, photograph your receipts with the Fetch app to earn points redeemable for gift cards to popular stores like Walmart, Target, and Amazon.
Lastly, keep an eye on price adjustment policies. “If a post-Black Friday purchase you make drops in price soon after, you might be eligible for a price adjustment,” Woroch explains. Stores like Target sometimes extend price protection on purchases until late December.
