The most anticipated shopping event of the holiday season is expected to break records this year.
According to the National Retail Federation, over 183 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year.
But setting an alarm to brave the crowds for deeply discounted items the day after Thanksgiving is a thing of the past.
Black Friday deals are popping up earlier and earlier each year.
“But they’re not special. They’re just the same, you know, fake discounts week after week,” said Kevin Brasler, executive editor of Consumers’ Checkbook.
Retailers hype Black Friday discounts, but these may not be the best prices of the year.
“The problem is few retailers actually charge that original price anymore. Instead, what they’re doing is just presenting the illusion of getting you giving you a special deal when in fact most of the sale prices that are going to be out there are the same prices that were available a month ago and that will still be available a month from now,” said Brasler.
Only some items will see exclusive discounts for the holiday.
“The only thing you might be able to look out for in the coming days is some items like video game systems, Apple products — other things where throughout the course of the year, you’ll see almost zero price variation for them because the manufacturers control the pricing for those items,” explained Brasler.
One way to make sure you’re getting the best bang for your buck is by tracking prices — even after you’ve purchased your item.
“If you spot a lower price at that retailer for the item you bought, you can contact it and it will give you a credit for the difference. We checked the policies of 100 major retailers and found that a lot of them, about 40%, do have these price adjustment policies. And during the holiday, some extend the window [for price adjustments],” said Brasler.
He also recommends thinking outside the box for gifts this holiday season — like buying experiences over material items.
“If you’re looking for something unique and special, a lot of times local retailers, local artisans can make something for you that special,” Brasler said.