5 myths about black friday you shouldn’t believe
When it comes to shopping on Black Friday, deals abound, but if shoppers aren’t careful, they could easily fall into spending traps and blow their budgets.
By Kathryn Buschman Vasel, Money Tree
“People need to understand that if they don’t feel like participating in the Black Friday madness they won’t be missing out on the only time to get big deals,” says Jackie Warrick, president ofCouponCabin.com. “Of course there will be deep discounts on Black Friday, but we are already seeing deals from retailers that are bigger than what they offered last year and we anticipate even deeper discounts closer to the holidays.”
The holiday shopping season is shorter this year with Thanksgiving falling so late in the month, and retailers are stepping up their discount game. The end-of-year shopping season is crucial to retailers’ bottom line; in fact, it’s the quarter that pushes many of them into the black for the year.
“Retailers have sales numbers they have to hit during this time of the year,” says Warrick. “If the sales start to show they might not hit them, shoppers can expect bigger discounts as the end of the year gets closer.”
To help get consumers’ shopping season off on the right financial foot, here are five common myths about Black Friday experts say shoppers should ignore:
Myth: Everyone gets the deals. Those doorbuster deals offering extra-low prices are enticing and have consumers lining up to snag them — and that’s exactly what the retailers want. But just because a product is advertised doesn’t mean it’s in ample stock. Most retailers have limited quantities of heavily-discounted items, particularly with electronics.
“I wouldn’t even try to get anything on the first page of the circular,” says Brad Wilson, editor in chief of sales site BradsDeals. “Most stores only have a couple of those items and everyone will focus on them.”continue reading »