Do you spend too much on Black Friday? This shopping holiday is not made to break the bank and there are ways to shop smart this season!
· 41% of shoppers have suffered financial consequences because of Black Friday overspending.
· 51% say spending too much on Black Friday has caused them stress.
· 39% say they have felt regret about spending too much.
· 44% have used a credit card to make Black Friday purchases they could not afford.
· 63% of shoppers say using a credit card encourages them to spend more than they should.
Data Sources: *Survey of 600 Black Friday Shoppers conducted by Poll Fish, 2018.
Do you agree with any of the above statements? If so, this piece may be helpful for shopping this year. Trying to avoid shopping on Black Friday is like trying to avoid a slice of pie on Thanksgiving: both come once a year and are designed to entice you to indulge. Everyone loves deals but are they really deals? You may also fall into FOMO (fear of missing out) if you do not go Black Friday shopping and once you are there, the “deals” suck you in.
Planning ahead will be the best “trick” to help save because when you are walking around you may waste time and money. It is like going grocery shopping on an empty stomach. Make a list of who you are shopping for, items you are planning on buying, and where you are planning to shop. Many stores release what their sales will be in advance, and which items will be a part of their Black Friday sale. In this step you should also set a budget (decide how much you can afford).
This year will also more than likely be different because of COVID-19 protocols. Normally, we see videos of shoppers stampeding through store fronts when they open on Black Friday, but this year that may not be the case. Many shoppers may choose to stay home this year and many stores will be offering curb side pick-up which will reduce in person shoppers, as well as the already in place store COVID rules regarding shopper capacity. This leads into another helpful tip: shop Black Friday sales online or wait until Cyber Monday. Most Black Friday deals begin at midnight on Thanksgiving or even earlier, so do your research and set your alarms!
Another helpful resource is downloading a Black Friday App. Of course there’s an app for that! A few are listed below:
· Shopular. Shopular is a location-enabled app that automatically shows you relevant deals when you approach your favorite stores. Since it’s pretty much effortless to use, it’s a great product to bring to the mall when you plan to hit multiple retail locations. Plus, it has a built-in rebate feature that returns up to 25% off select purchases.
· Flipp. Flipp aggregates flyers and coupons from hundreds of retailers. It lets you upload personalized shopping lists too – perfect for Black Friday. Upload your retail loyalty cards to earn points or rebates on Black Friday buys.
· The Coupons App. Like Flipp, The Coupons App is a flyer and coupon aggregator. The customizable alerts are clutch. You don’t even have to log into the app to see late-breaking deals, including Black Friday flyers.
· TheBlackFriday.com App. The name says it all. Of these four, app is the most narrowly tailored to Black Friday deals. If you’re looking for an app exclusively for the occasion, this is your pick. It includes deals that fall outside the traditional Black Friday window too, so it’s not a one-trick pony.
Goodluck this shopping season, and may the deals be ever in your favor! Don’t forget to plan ahead by creating a budget and a list!
Written by: Allie Ryan