The biggest shopping day of the year is quickly approaching, and many shoppers are anticipating rock-bottom prices on new merchandise such as televisions, children’s toys, computers, and other electronics.
However, not everyone enjoys Black Friday shopping. In fact, some shoppers avoid Black Friday shopping entirely. While individual sales can save you money if you need the item on sale, Black Friday as a whole can be quite costly for consumers.
While Black Friday shopping is exciting and the deals appear to be great, the price can be high. Is it true that Black Friday shopping saves you money?
The answer is dependent on the type of shopper you are. Here’s a look at the disadvantages of Black Friday shopping and why you should always exercise caution when shopping on the day after Thanksgiving.
Do you really save money on Black Friday?
Yes is the response. In-store specials typically range from 20 to 30 per cent off the week before Thanksgiving to about a 37 per cent discount on Thanksgiving and Black Friday. Online Black Friday sales follow suit, offering an average discount of 34%.
With Black Friday sales circulars offering discounts on almost anything, it’s easy to see why some consumers succumb to temptation. Even the most logical of shoppers can succumb to an impulse purchase in a sea of doorbusters, circulars, and long lines at retail stores.