10 Tips to Get the Best Black Friday Deals

Black Friday is RIGHT around the corner!

How many of you shop that day?   I know many of you do!

The whole event is an evolving savings game. Retailers are trying different sales tactics to ensure customers pick their store for their holiday shopping. Some companies are opening their doors on Thanksgiving Day, some are sticking to the Friday plan, while other retailers are offering pre-Black Friday sales weeks in advance. And, don’t forget those online deals!

To get the best Black Friday deals and avoid the pitfalls of some the budget-busting traps, try these 10 tips.

Tip 1- Know your standard retail price points.  Often, sales aren’t the amazing discounts they seem, to be. For example, the first weekend in November 2014, Walmart offered the iPad Mini for $199. It was a $50 savings on an older model, which isn’t bad, but it is far less stellar than their Black Friday deal in 2013 offering $100 off the then newest model.

Tip 2 – Look past the big-ticket lure in ads.  The front page of those Black Friday ads has what the retailer feels is the best deals. However, that super-low price is typically available in limited quantities or during certain hours. The goal is to get you into the store and let impulse buying take over. Make sure that when you are picking your Black Friday stops, the offer some sort of “in stock” guarantee or have multiple items you want.

Tip 3 – Consider the quality of the product in ratio to the discount.  Many retailers will give deep discounts on products that have been specifically created for Black Friday. This typically applies to electronics and most often with televisions, tablets, and music systems. It might be a name brand item, but you will find the model number is slightly different than the standard product available year round. Do your research and make sure you are getting reviews for the exact model you are considering purchasing.

Tip 4 – Shop with a team.  Walmart sets up zones where you will be able to nab the hottest deals. You can find maps of where to locate these highly sought after deals, so take advantage and make a plan. Agree to help shop for each other, so you can get multiple items that might sell out at the same time by splitting up and waiting in different lines.

Tip 5 – Ask about limitations, return policies, and additional discount options.  For the hotter deals, stores might limit the number of items you can buy. If you are shopping in a team, make sure you will be able to buy the number you need. Return policies tend to see a temporary adjustment for items purchased during special sales. Target offers REDcard holders a 5% discount every day, so make sure you are considering that extra incentive when deciding which store to shop. Also check with your credit card. They may have an exchange/return coverage not offered in store.

Tip 6 – Stack the savings with price matching, coupons, and extra discounts.  Research your chosen retailer’s policies to make sure you are getting the very best deal. For example, Target will also add match most under their standard policy, but usually excludes Black Friday sales. However, they do price match items from Walmart.com, Amazon.com, BestBuy.com, ToysRUs.com, or BabiesRUs.com. So, if you see an online and it is not labeled with “Black Friday” sales or you have to login to get the deal – they should match it. Couple that match with their store coupons and Cartwheel discounts, and you have an amazing deal!

Tip 7 – Sign up for email alerts and loyalty programs; follow the retailer on social media.  Some retailers will offer a special heads-up to customers who sign up for their loyalty programs or follow them on Twitter and Facebook. This could give you special discounts or an opportunity to beat the crowds.

Tip 8 – Don’t leave home.  Check to see if you can get the deal online first. Experts are predicting that the 2014 shopping season will be lighter in-store with more focus online exclusive deals.

Tip 9 – Check out warranty options before you buy.  Stores love to sell warranties. Often, they are overpriced, limit coverage, and are unnecessary. If the product has a defect, you can often return or exchange the item under the store’s return policy. Compare their standard return policy with the extended warranty, what exactly is covered, and make sure it doesn’t already have a warranty. Also consider that some retailers will let you take advantage of the extended warranty up 30 days after the purchase. It’s best to consider these options for smartphones and laptops.

Tip 10 – Ask a manager.  When you are researching policies and asking about discounts make sure you are speaking with a well-informed manager. It’s not uncommon for new information or policy changes to take weeks to make it to every employee. Managers will know first and you can always refer back to them if there is problem.