Black Friday is one of the busiest and most profitable shopping days of the entire year. According to DemandSage and National Public Radio, American consumers spent a record $10.8 billion on online Black Friday shopping in 2024. Around $61 billion in total sales (both online and in-person) were made over the Black Friday and Cyber Monday weekend. Consumers can land great deals on the day after Thanksgiving, which means individuals who hone their Black Friday shopping skills can reap considerable rewards. The following tips can help shoppers master Black Friday.
• Set a budget. Even though Black Friday may feature some hard-to-beat deals, it’s wise to determine how much you can afford to spend before you begin shopping. Shopping beyond your means, even if the prices are low, can exact a financial toll.
• Make a list of recipients. Make a list of the people for whom you will be shopping and some ideas of what to give each individual. This will enable you to look out for particular deals on these items.
• Compare prices ahead of time. It’s important to know how much items cost across different retailers before Black Friday arrives to understand their true value. This will enable you to determine whether a Black Friday sale is really a bargain or if you can get a better price at a different time. Smartphone apps like BuyVia, Shopkick, and Shopular let you scan barcodes to compare prices and more.
• Shop online early. NPR reports a shift from traditional in-store shopping to online platforms for Black Friday. Many deals now begin on Thanksgiving or even earlier and fall under the Black Friday promotion. Start shopping at home to avoid large crowds and secure limited-time deals. In recent years, many retailers have offered more of the same promotions online as they do in stores.
• Be wary of sneaky sales tactics. Some stores will offer “doorbuster” exclusions that highlight slashed prices and utilize marketing tactics like countdown timers to encourage shoppers to purchase items without doing their research. This is when knowing the true value of items can help you spot a deal or inflated prices that were then marked down.
• Limit your stores. If you choose to shop in person on Black Friday, start early in the day and don’t run yourself ragged. If you’re tired, you may not make the best decisions and could end up spending more than your budget allows.
Shopping smart on Black Friday comes down to employing some savvy financial strategies.
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