This post 10 Black Friday Tips Before You Shop appeared first on Daily Reckoning.
According to retail experts, November is now the new retail boom month as more people start to do their Christmas shopping online.
The shift happened in 2016 when, for the first time ever, November retail sales outpaced December. The trend continued last year with November sales climbing 1.3%, while December was down 0.6%.
Shopping events like Black Friday, Singles Day and Cyber Monday are big drivers in this move, as well as consumers taking into account postage time for online orders.
If you plan to take advantage of this month’s Black Friday deals, you want to make sure you’re getting the best deal possible on the items you want and keep overspending to a minimum.
To help you, I put together a list of my top 10 tips for Black Friday shoppers. Even frugal consumers should consider taking advantage of these year-end deals because they’ll save you money in the long run.
Tip 1: Set a Budget – and Stick to It
This isn’t a sexy tip by any stretch but it’s crucial if you want to get the most out of these holiday deals.
The average American is expected to spend $1,007.24 each over the holidays.
Of that, they’ll spend $637.67 on gifts. Another $215.04 will go to food, decorations, flowers, and greeting cards. They’ll also spend $154.53 on seasonal deals and promotions.
With the abundance of sales happening, it’s easy to spend more than you have in the name of a good deal.
My suggestion, set a budget for how much you can afford to spend on Black Friday deals then work within those means.
Tip 2: Write a Blacklist
As important as your budget, you should write out a not-to-buy list or Black Friday “Blacklist.”
These are items you know you don’t need or will go on sale for even less other times throughout the year. Most new electronic gadgets you’ll find on Amazon’s deal page that don’t serve any real purpose other than look cool will fall into this category.
Write out your not-to-buy list and review it before adding anything to your cart.
Tip 3: Look at the Price, Not the ‘Saving’
One sneaky trick retailers like to try is mark products up before Black Friday sales begin so they can call out deeper discounts during the sale event.
This is where it pays to do some product research beforehand so you know how much an item actually costs and whether or not you’re really getting a good deal.
Go to CamelCamelCamel.com to track price history for anything on Amazon.
Tip 4: Shop with Discounted Gift Cards
I’ve mentioned this money hack before and I’ll say it again, you can stretch your savings even further by buying discounted gift cards from places like Gift Card Granny, Cardpool, GiftCardRescue, and CardCash.
You’ll easily take off an additional 10-15% on your order with this one simple hack.
Tip 5: Know Where to Shop
There are deals happening everywhere.
And it can be overwhelming to know which stores will offer you the best prices. Roughly …read more
Source:: Daily Reckoning feed