Updated Dec 6, 2024
Many companies on MoneyMade advertise with us. Opinions are our own, but compensation and in-depth research determine where and how companies may appear.
Black Friday has become an annual phenomenon, promising substantial deals to online shoppers. Strictly speaking, it takes place on the first Friday after Thanksgiving in the US, although it has now spread to incorporate the whole week leading up to it. There are some excellent deals available, but shoppers do need to ensure they are getting good deals. Research has shown that, in some cases, prices are no lower than during the rest of the shopping year.
It’s only a bargain if you need it. The best Black Friday deals are a great opportunity to get Christmas gifts for friends and family and to stock up on items you need. According to tech journalist Linda Rosencrance, the best deals are likely to be seen in electronics and appliances.
It’s very easy to get caught up in the excitement of the whole event so it’s best to know what you’re looking for. Spend some time writing a list of essentials as well as a list of ideals. Remember, not everything will be available, so you may not be able to get every item on your list. Consider having some replacements for the essential items, so you won’t be left empty-handed.
While compiling your list, set yourself a budget. Budget individually for each item, and also set an overall budget. Allow a little extra, in case you can’t get a decent deal and have to look at alternative purchases.
Setting a budget means you will be less likely to overspend and it will also help ensure you really are getting a good deal on the items you purchase. This can help prevent you going over budget and ensure you still have money to invest and meet monthly payments.
To make sure you’re getting a good reduction, you need to know how much items cost when they’re not on offer. A few years ago, this would have been difficult. You would have had to draw up a list prior to the sale and then compare this to the sale price.
Today, there are services, websites, and apps that effectively do this for you. Services like Alertr and PriceSpy. These services monitor prices throughout the year so you can see whether you’re really saving any money or not.
Sites like Alertr and PriceSpy can also inform you of which sites offer the best deals on the items you’re looking at, so if you miss a good deal when manually shopping around, the app will inform you. This can take some of the manual work out of comparing prices, but you shouldn’t rely solely on apps or websites to do the work for you.
Use search engines to find reputable retailers and manually compare prices from a few different locations. Different stores and different services may have deals on specific items, so just because one website offers the best deal on one item, doesn’t mean they have the best prices on everything.
Another use for these comparison deal sites is as an alert service. Retailers may drop their prices as the Black Friday sale progresses, which can offer you access to even better deals. Using a price alert service means you can set your desired price and you will receive confirmation when a retailer hits that price.
However, it is worth remembering that just because you want the price of an item to drop doesn’t necessarily mean it will. Some retailers use dynamic pricing so if an item is selling well, its price may increase, rather than decrease.
Some stores put up Black Friday advertisements and banners before Halloween, hoping to take advantage of one of the busiest shopping days of the year. Some of those advertisements claim to offer early deals, and while this can be true, you still need to check the prices and compare them to earlier prices, as you would on the day itself.
You may also find that the deals improve over time. This is especially true if the store has a limited supply of a certain item.
On the other hand, some stores may increase their price, or change which items they are offering deals on throughout the offer period. If a deal represents really good value compared to prices earlier in the year, don’t be afraid to pull the trigger and make the purchase.
Black Friday has extended beyond the end of the Friday, through the weekend, and to the Monday, which has become known as Cyber Monday. But, most stores will have limited stock of items, and if they sell out on Black Friday, that item likely won’t be available again on Cyber Monday.
Most sites will want you to register to buy, and you may be able to get further discounts if you are a registered member. If you have your eye on a particular item at a specific store, register with that store before you make your purchase.
Ideally, you should be registered at least a week before Black Friday. As well as making the checkout process quicker, you can stay informed of any last minute deals and offers from the site.
A lot of stores and businesses inform their potential customers of deals by social media. Some will provide special discount codes to their social media followers, as a way to build their social following and encourage more sharing of their posts. Follow your favorite brands and stores on sites like Facebook and Instagram.
A lot of businesses have moved from X to Bluesky, and because they want to develop a following on the new channel, you can find some good deals here, too.
Some offers cannot be used in conjunction with other offers, but this isn’t true of every discount. Check with popular discount codes and voucher websites to see if your favorite brands offer special discount codes for Black Friday.
There are also browser extensions and apps that can search voucher code websites and apply them at checkout, and these can be a great way to help ensure you don’t miss out on a favorable deal.
Always check that you’re getting a good deal before you purchase a Black Friday offer. Some sites provide offers on limited ranges to get people on the site. Those items might represent good deals, although even that isn’t always guaranteed, but the rest of the site’s stock might prove more expensive than at other sites.
Even if you do see a bit of a saving on one item, you might end up losing out if you buy without checking the prices of individual items.
When you use a credit card to purchase items, whether online or in person, the credit card company accepts joint liability for the items you purchase. This means that if there is a problem with a purchase, the company will act on your behalf to chase a refund, and, quite often, the credit card company itself will refund the cash to you.
Using a credit card might also allow you to use a buy now, pay later, or installment payments, providing yet more savings.