THE Black Friday Shopping Strategy
Black Friday is the biggest shopping day of the year and it’s nearly here! Are YOU ready? Most retailers have been preparing for months and are ready with their special offers and unbelievable sales on this day, sometimes discounting big-ticket items by hundreds of dollars.
It’s important to keep in mind though, that retailers aren’t offering these great deals just because they’re feeling the magical holiday spirit. Actually, they make these great offers in an effort to increase their profits. Some of the items they promote are sold below cost, so they lose money on those, but because they’re usually sold in limited quantities, they more than make up for the difference with sales of other, more profitable items.
The techniques that retailers use are part of a strategy to get consumers to part with as much of their money as possible. This makes it easy to go shopping on Black Friday with your budget in mind, but come home with much more than you planned on buying.
Here are some tips to help stay on your budget:
Make a list and check it twice.
Before you walk out the door, make a list of the people for whom you plan to shop. If you have a specific item in mind, write it down. If not, try to come up with some ideas before hitting the stores and allocate a certain amount of money for each recipient.
Check all store circulars before heading out.
That great deal you found on an item at one store may be small potatoes compared to the deal another store is offering on it.
Timing is very important on Black Friday.
Stores often have deals that are specifically time-limited, so you must plan to get to the store at the specified time in order to get the savings offered. Reading the fine print and planning your shopping trip around these deals can save you money and disappointment.
Compare prices online and use the buddy system.
Most online merchants offer Black Friday deals too, and in some instances they are much better than those available in stores. Some of the online offers are also time-limited, so if you’re going to be out shopping you may want to ask someone that plans to stay home to snag them for you.
Search for coupons and discount codes.
These may be found in circulars, in email newsletters or online. Some of these special codes and coupons can save you a great deal of money!
Black Friday provides a grand opportunity to save money on your holiday shopping, but as always, it pays to be prepared. If you stay alert and buy only what you planned to buy, you can stay within your budget and proclaim shopping success.
Chele Neisler is your host for Moms Love Shopping. As a mother of three boys, Chele is happy to have Moms Love Shopping as an outlet and a connection to other women. Spending every moment with all males isn’t easy! Hosting the show also allows her the chance to return to her two first loves, shopping and chatting.
