Josh Elledge - Chief Executive Angel
Holiday shopping is a huge event and it's already begun. This holiday season, the National Retail Federation believes “the average holiday shopper will spend $749.51 on gifts, décor, greeting cards and more, up slightly from the $740.57 they actually spent last year. NRF is forecasting holiday sales will increase 4.1 percent to $586.1 billion.”
The day after Thanksgiving is known to both retailers and shoppers as Black Friday. The term “black” may sound a bit sinister. For some who avoid the stores on this day at all costs, the term is perfectly appropriate. The rush for a limited number of great deals can drive some shoppers to lose their manners. Why is it called “black?” It reflects the fact that big sales on this top shopping day can tip retailers into the black for the entire year. A handful of loss leaders to a limited number of shoppers can drum up enough excitement to keep the dollars pouring in all day, into the weekend, and throughout the holiday season.
The vast majority of Black Friday store ads are already posted online; so this can help you decide.
Some of my favorite online tools for finding gifts this holiday season:
https://savingsangel.com/amazon/ ““ Amazon.com deal finder ““ allows you to see deals on Amazon.com for 90% off or better. I've found several gifts already using this free site.
https://savingsangel.com/deals/ ““ Daily Deal watcher. Many holiday deals are popping up on Daily Deal websites. See them all with this free tool.
http://bfads.net/ ““ Ad scans and Black Friday updates
http://www.blackfriday.info/– Ad scans and Black Friday updates
http://www.fatwallet.com/ ““ Great deals around the Internet
If your plan is to buy major electronics, gaming systems, Blu-Ray players, appliances, or other big ticket items, you may do very well to fight the crowds if you are willing to camp out a couple hours early. If, however, you don't want to fight the masses, or your Christmas list doesn't include the typical deals offered on this day, you'll likely do better shopping from behind your computer screen ““ or at your leisure at local retailers. Consumer groups have found that as many as 70% of Black Friday deals can be purchased online.
According to the NRF, more than half of us will shop online this season. Although Cyber Monday (the Monday following Black Friday) had become somewhat of an online answer to traditional brick and mortar retailers, “˜door buster' deals have already started and are likely to continue throughout the holiday shopping season. In short, don't wait for Monday, Nov. 26th and don't despair if you aren't able to shop online that day. Online retailers will be competing heavily for your shopping dollars throughout the rest of the year and into January.
Black Friday Highlights
Like it or not, retailers are encroaching on Thanksgiving by turning the evening into Black Thursday. Toys “˜R Us and WalMart will open their doors at 8pm with incentives to get there early. Target opens at 9pm and Best Buy opens their doors at midnight – but if you want the Toshiba 40″ 1080p Widescreen LCD HD Television for $180, there are reports of tents going up outside the stores already.
There's something new happening at WalMart this year which I predict other retailers will follow suit on next year. If you are in line at the store between 10 pm and 11 pm on Thursday, you are guaranteed to be able to purchase three door buster deals if you choose. An Emerson 32″ HDTV for $148, an LG Blu-ray Player for $38, and an Apple iPad 2 16GB WiFi 9.7” Tablet for $399 but you get a $75 Walmart Gift Card back.
My biggest Black Friday tips”¦
The Black Friday frenzy can make it tough to make an informed decision. One trick is to look for the retailer's return policy. If it has a 30-day free return policy, you can buy today's deal and see if a better one crops up.
Don't buy impulsively at the store if you cannot return the item. Make your mind up on your purchases ahead of time and stick to your plan. If you weren't swayed by the deal when looking at it in the ad, don't get caught up in the emotion of “missing out” when you see inventory levels dropping. It's all part of the sales psychology. There will be plentiful other deals to be got this year.
Don't feel like you must shop on Friday. If you don't want to fight the crowd or miss time with family on Thursday, watch the deal sites and large online retailers between now and then. Last year, I had more than half my holiday shopping done before Black Friday because of deal watching throughout the year.
Most importantly”¦
Make sure you do not shop impulsively at the grocery store! Sadly, I have seen shoppers throw their grocery budget out the window during December “because it's the holidays.” This can easily mean an extra $200-$400 LOST because of the desire to shrug off financial commitments. Families struggle throughout winter because of the desire for a month of supermarket shopping freedom. Please resist the urge to let your guard down. SavingsAngel.com and your Sunday newspaper coupons are a perfect way to add hundreds of dollars INTO your Christmas budget. We'll be offering personal assistance throughout the rest of 2012 to anyone who wants to free up extra money for Christmas from their grocery budget. You deserve a blessed Christmas. With the right planning, you can enjoy great gifts, great food throughout the holidays, and plenty of money left over by the end of it all.
