CBS: Black Friday Strategies
This morning I stopped by the CBS Early Show with some Black Friday shopping strategies to make the hectic day just a bit easier.
Devise a Game Plan
As we know, it’s important to plan a budget, make a list and stick to it. But beyond that, there are other tricks to spending smart and efficiently. For example, invest a little bit of time to learn the store’s layout in advance. The more time you spend wandering around looking for this year’s hot Elmo, the more likely you’ll find more random items to throw in your cart. Retailers like Wal-mart, Target and Home Depot offer in-store floor plans as an added feature to their free mobile apps. Also, zero in on items that are truly deals – and nix the others (more on that in a second). Finally – and perhaps, most importantly – limit your distractions by leaving the kids at home with a sitter.
What to Buy
Some electronics will see steep discounts on Black Friday, specifically tablets. In years past, HDTVs were the hot item. This year it’s the iPad, Kindle, Nook and Samsung Galaxy, among others. Other items worth placing on the BUY list: winter accessories, video games, DVD’s and must-have items that are likely to sell out the closer you approach Christmas. Also: consider brands that rarely offer discounts except for on Black Friday – such as Apple and Dyson, whose offering a rare 25% off all its fancy-shmancy vacuum lines.
Bank on Your Smartphone
There are some great apps, including Red Laser and Shop Savvy, which can help you compare prices on the spot, so no need to drive around town looking for the best deals. When you scan a barcode, the app searches for competing prices at neighboring stores. Find a better deal somewhere else and ask the floor manager to offer you a price match.
Save With Discounted Gift Cards
Save an extra 10-25% by purchasing discounted gift cards through sites like Gift Card Rescue and Plastic Jungle, which guarantee the face value of discounted cards sold on their sites.
Gift a Daily Deal
Head to Groupon, Living Social and other daily deal sites to purchase the gift of an experience (restaurant, travel, etc.) at a substantial discount. And while you’re online – don’t forget to take advantage of exclusive offers available on retailers’ Twitter and Facebook pages. “Like” or follow a retailer and you may learn about some additional deals and discounts.
What NOT to Buy
Stay away from high-end electronics. Name brand TVs for example aren’t at their best price this time of the year. Better to wait until January and February after the annual Consumer Electronics Show when retailers typically unload the previous season’s inventory at a fraction of the price. Toys will also be marked lower as we approach Christmas, though if your child is holding his breath for something in particular, snatch it when you can. Another no-no on Black Friday: jewelry and watches. Gold prices are currently sky-high and you can usually find better jewelry offers in the spring. Finally, when it comes to apparel, shopping site Deal News estimates there will be about 27% more clothing deals come Cyber Monday, so wait if you can for more selections.
Door Busters? Eh…
You know as well as I that door busters are just meant to lure us into stores. You may have your heart set on getting that 80″ HGTV for $200, but it’ll likely be gone by the time you get there. Not that I’m saying you shouldn’t try, but unless you’re willing to ditch your family early on Thanksgiving night (as stores like Wal-mart & Target are opening up in the late evening) – and put up a possible elbow fight – don’t be disappointed if you face slim pickin’s.
