November 16, 2024
by Jessica Dickler
CNBC.com
KEY POINTS:
- Black Friday to Cyber Monday is one of the busiest shopping periods of the year as consumers try to maximize the weekend’s deals.
- Retailers tempt shoppers with incentives and discounts. But these are not necessarily the best prices of the year, according to shopping experts.
- Here’s what not to buy on Black Friday and how to snag the lowest prices overall.
Typically, the five days beginning Thanksgiving Day and ending Cyber Monday are some of the busiest shopping days of the year.
This year, the number of people shopping in stores and online during that period could hit a new record, according to the National Retail Federation’s annual survey.
But consumers trying to make the most of the Black Friday sales may not be getting the best prices of the season.
According to WalletHub’s 2023 Best Things to Buy on Black Friday report, 35% of items at major retailers offered no savings compared with their pre-Black Friday prices. The site compared Black Friday advertisements against prices on Amazon earlier that fall.
“Some Black Friday deals are misleading as retailers may inflate original prices to make a deal look like a better value,” said consumer savings expert Andrea Woroch.
This year, in particular, some of the deals are already as good as they are going to get.
“Those holidays have gotten a little watered down because retailers want to maximize the selling days,” said Adam Davis, managing director at Wells Fargo Retail Finance.
“Compounding the importance of stretching the holiday season, retailers are facing a shorter selling season between Thanksgiving and Christmas — almost a week shorter in 2024,” he said. “That will force the retailer’s hand to be pretty promotional in November.”
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