Last Updated on December 18, 2020
November is finally here. Do you know what that means? It means that Black Friday sales are just around the corner! Isn’t it exciting? You better get ready!
Black Friday is a worldwide shopping phenomenon that became huge in the last decade and is now the busiest shopping day. It takes place on the Friday immediately after Thanksgiving (this year, it falls on the 27th of November), and it drives consumers crazy! For very good reasons: most Black Friday deals and discounts are so amazing that it is impossible to find anything like them at any other time of the year.
In 2020 things will be necessarily different due to the current pandemic situation. Online shopping sites will be even more important due to public health concerns and the circulation restrictions in many parts of the globe.
Without further ado, here are five smart Black Friday tips you need to make the most of this annual shopping event:
Table of Contents
1. Plan in advance
Planning will make everything much easier for you when the discount frenzy starts. First of all, you should make all your major non-urgent purchases during Black Friday. If you need a new appliance, smartphone, computer, or TV… wait for Black Friday. Sure, you’ll spend a lot of money in a couple of weeks. But if you’re smart, you will end up saving a lot of money from your annual budget. Write down what you need to buy and one or two items that you don’t exactly need, but you’ve wanted for a long, long time – you can also include some Christmas gift ideas. You should start to prepare for Black Friday shopping at the beginning of November in an ideal world. Why so early, you ask? Well, since there is so much interest around this shopping event, many retailers start offering good Black Friday deals during the first weeks of November in specific product categories. Of course, you won’t find discounts as crazy and as varied as during Black Friday itself, but with a little bit of luck, you can find a great price cut on a specific product you want.
Now that you have a list of all the items you are going to buy, it’s time for an intensive research process. It can be quite boring and time-consuming, but it has to be done to prevent you from making any mistakes. Let’s use some practical examples to teach you how to do your research. Imagine three items on your list: a TV, a microwave, and an electric toothbrush. You need to know exactly what features you need and the maximum budget for each one of them. For example, you need a 4K TV to take advantage of your next-generation console, a microwave with grill function, and an electric toothbrush with 1-month battery life. This will help you pick four or five specific models for each product on your list – the more models that fit your criteria you have listed, the better since you’ll be more likely to find one at a discount on Black Friday. Use product tracking sites and apps to keep a close eye on all the products on your final shortlist and set alarms to receive an email or text notification if there’s any price drop during Black Friday week. Congratulations, you just made Black Friday much easier for yourself!
3. Compare prices and track price history
When Black Friday online shopping officially starts, you need to get in front of your computer or smartphone and keep track of what retailers offer. It’s important to be active and look up the best deals on Amazon, Best Buy, Walmart, and other major retailers. Once you find something that you want at a good price, don’t buy it right away. First, compare the price with other retailers and check the price history of that specific product on CamelCamelCamel.com or Slickdeals. These are great tools to find out whether or not you’re making a good deal. Keep in mind that sometimes even the most trustworthy retailers put an exaggerated price tag on some products weeks before Black Friday so that they can claim a huge discount when that shopping event arrives and deceive potential buyers. It’s an old trick that is getting less and less common as people become familiar with the aforementioned tools. It’s also a good idea to take a walk around your area and check the deals that local shops are offering on Black Friday – we’re living in difficult times, and small businesses desperately need our help. Buy from a small business if you can!
4. Avoid being scammed online
Unfortunately, online scams are still a huge problem that affects millions of consumers every year despite all the improvements in online security and increased consumer awareness. Scammers know about all the excitement and hype around Black Friday and online shopping, so they create techniques to take advantage of users when worrying about getting the best deals. This shopping season, you need to know how to stay safe online, so here are some essential Back Friday safety shopping tips: Shop on secure and trustworthy websites and be careful with fake online shopping websites; If a deal is too good to be true… it probably is; Save all the receipts; Read reviews; Use a secure connection to make payments; Protect your personal information;
5. Take advantage of cashback programs
If you’re going to be spending a lot of money this Black Friday, you must take advantage of credit card cashback programs. These are reward benefits offered by credit card companies that give you back a percentage of the purchases you make. The advantages and conditions of each cashback program can differ greatly. Hence, the best thing you can do is to inform yourself directly with your bank or do intensive research to determine the most valuable cashback programs available in the market.