BUYER BEWARE: Some Black Friday “Deals” Aren’t What They Seem

LAFAYETTE, La. (KPEL News) -- Black Friday, the annual shopping extravaganza following Thanksgiving, offers consumers a plethora of deals across various product categories. However, not all discounts are created equal. Understanding which items typically feature the most substantial savings can help shoppers make informed decisions and maximize their purchasing power.

With 31% of American consumers planning to spend less during the 2024 holiday season relative to 2023, the personal-finance website WalletHub today released its report on the Best Things to Buy on Black Friday in 2024. WalletHub determined that 41% of items offer no savings compared with their pre-Black Friday prices.

Read More: Unlock Black Friday Savings: Top Retailers with the Best Deals 

Read More: Thanksgiving, What Is Brown Friday and Why Should You Care? 

Best Items to Buy on Black Friday

1. Electronics: Historically, electronics such as televisions, laptops, and smartphones see significant price reductions during Black Friday sales. Retailers often use these high-demand items as doorbusters to attract customers. For instance, major brands like Samsung and LG frequently offer substantial discounts on their TV models, making it an ideal time to upgrade your home entertainment system.
2. Appliances: Both large and small appliances tend to be heavily discounted. Whether you're in the market for a new refrigerator or a coffee maker, Black Friday provides an excellent opportunity to purchase these items at reduced prices. Stores like Best Buy and Home Depot typically feature significant markdowns on appliances during this period.
3. Video Games and Consoles: Gamers can find attractive deals on video game consoles and popular game titles. Bundles that include consoles and games or accessories are common, offering added value. Retailers such as GameStop and Walmart often provide competitive pricing on gaming products during Black Friday.
4. Smart Home Devices: With the rise of smart home technology, devices like smart speakers, thermostats, and security systems are frequently discounted. Brands like Amazon and Google often reduce prices on their smart home products, making it a favorable time to enhance your home's connectivity.
5. Clothing and Accessories: Apparel retailers offer substantial discounts to clear out inventory before the new season. This is an opportune time to purchase winter clothing, footwear, and accessories at a fraction of the original cost. Department stores and fashion retailers typically participate in these sales, providing a wide range of options.

Items to Approach with Caution

1. Toys: While some toys are discounted on Black Friday, the best deals often appear closer to the holidays. Waiting until December can yield better prices, especially as retailers aim to clear out inventory before the year's end. However, for highly sought-after toys, purchasing earlier may be prudent to avoid stock shortages.
2. Furniture: Furniture deals are generally more favorable during other times of the year, such as Presidents' Day or Memorial Day sales. Black Friday discounts on furniture may not be as substantial, so it might be wise to wait for these specific sales events.
3. Holiday Decorations: Purchasing holiday decorations during Black Friday might not offer the best savings. Retailers often discount these items more heavily after the holiday season. If you can wait, buying decorations post-holiday can result in significant savings.
4. Exercise Equipment: Fitness equipment often sees better deals in January, aligning with New Year's resolutions. While some discounts may be available on Black Friday, waiting until the new year could provide more substantial savings.
5. Gift Cards: Although some retailers offer promotions on gift cards during Black Friday, more attractive deals are typically available during other times of the year. For example, some restaurants and retailers offer bonus cards with gift card purchases during the holiday season, providing better value.

Tips for Black Friday Shopping

• Research and Compare Prices: Before making a purchase, research the item's price history to ensure the Black Friday deal is genuinely a bargain. Utilize price comparison websites and tools to verify you're getting the best deal available.
• Create a Shopping List: Identify the items you need and prioritize them. This approach helps prevent impulse buying and keeps your spending in check.
• Set a Budget: Determine how much you're willing to spend and stick to it. Black Friday deals can be enticing, but maintaining a budget ensures you don't overspend.
• Sign Up for Newsletters: Many retailers offer exclusive deals to subscribers. Signing up for newsletters can provide early access to sales and additional discounts.
• Check Return Policies: Before purchasing, review the retailer's return policy. Some items bought during Black Friday may have different return terms, so it's essential to understand these policies beforehand.

By focusing on categories that traditionally offer the best discounts and approaching other items with caution, shoppers can make the most of Black Friday sales. Strategic planning and informed decision-making are key to maximizing savings during this annual shopping event.