A black Friday ad arrived at my house yesterday. It came complete with a glossy fold out and a coupon. It's not the first ad I have received and I am sure it won't be the last. Each of these ads ends up in the exact same spot. My garbage can.
I don't shop on Black Friday for a number of reasons, the first being I HATE crowds. The second being, I just don't think it's a good value.
However, I do know a lot of you love shopping Black Friday. You rave about the great deals you find and I love hearing about them. However, I really would love to see you all go in there as informed consumers.
1. That TV might be junk
They're actually called Derivative Models. More and more TV manufacturers are creating television sets just for Black Friday. These sets are a lower quality, made with cheaper parts and do not come with good consumer ratings. (Source)
If you are looking to avoid buying one of these models do a quick Google search of the model number, if all that comes back is information on a Black Friday sale, chances are you are looking at one of these cheaper sets.
2. The product might be old
And often those products are leftovers from last year. So the TV, toaster, laptop ect. ect. is a year old. While I personally don't care when a product is made, as long as it works well, some people don't feel the same and it really does translate into the value of the product.
3. There's a lot of fine print.
Some deals seam great! A lap top for $299 a tablet for $99... but often those deals come in the form of a rebate. Which means you are paying the full price and waiting for that deal.
So make sure you read ALL the fine print on the sales flyer before you go out and brave the crowds.
4. The sale isn't really a sale.
This is something that makes my ears get hot! I mean, it fills me with rage. And that is... when retailers lie. Some retailers will inflate the original price to make the sale seem like a better deal than it is. (Source.)
5. You won't find the best deals of the year
Do you want the best deals on a appliances? TVs? Or other electronics? Chances are you could have bought them in June, or waited until about two weeks before Christmas. It turns out great deals aren't exclusive to Black Friday. (Source)
But if retailers can get you into the store it creates a since of urgency and greater likelihood you will impulse spend.
What about you? Do you think Black Friday is a good deal?