Josh Elledge - Chief Executive Angel
New Black Friday 2016 sale predictions and helpful advice
Last year, numerous Black Friday ads were leaked before November 15, and I predict this year to follow that trend. In fact, a few have already been leaked, like Rite Aid.
Every year, the ads are released earlier and earlier, a trend especially fueled by smaller retailers. In a strategic grab for a larger piece of the $4.45 billion Thanksgiving and Black Friday spending pie (stat provided by Fortune.com), smaller retailers have consistently needed to position themselves sooner. They have to bank on early holiday shopping excitement and by getting their ads out early, they stand a better chance of shoppers planning to stop by and spend.
The incredible value of this for the consumer is that it has become easier than ever to compare prices – and pinpoint the true deals – before the big shopping days. It's vital to remember that not every item listed in a Black Friday ad is actually a good deal. Stay price-savvy in the midst of all the shopping frenzy – to avoid being suckered into fake deals.
Fake deals swirl in the hype that surrounds Black Friday and have spilled into the entire month of November. We even saw a number of Pre-Black Friday and Pre-Cyber Monday sales throughout October. But the reality is, retailers cannot afford to offer stellar deals all November and December, and now even October, long – so there have to be sales thrown in that are not really much of a sale at all. That's not to say there are not bargains – there are – but you must remain sharp.
To help demonstrate this, in 2015, WalletHub.com compiled and calculated the average percentage of savings advertised in Black Friday ads. Of the 30 major retailers they profiled, JCPenney topped the list with an average of 68% in savings, followed closely by Kohl's, with an average of 66.7%. Mathematically that means, those two stores offered decent deals throughout most of their ads. But near the bottom of the list landed Target, with an average savings of 37.3%, followed even lower by Walmart, with an average of just 30.1%. Obviously, there are a handful of deals to be had at these two major retailers, but these numbers prove that not everything is a real bargain. For every true deal, there must be a faux deal, to pull the average down.
So how do you prepare for Black Friday and Cyber Monday and spot fake deals?
– Comb through leaked ads as they come out. I like Retailmenot.com, BlackFriday.com, and BFads.net for these.
– Make a list of the items you are seeking – and make it now.
– Research online what the average retail price for the item is, so you know the worst (most expensive) price. As you research, I highly recommend signing up for SavingsAngel.com/swagbucks, which gives you free points just for searching the web. Those points can be redeemed for gift cards and even cash from Swagbucks. It costs you nothing, and you can rack up points very quickly researching your gift list items.
– If shopping online, take shipping into consideration. You may find a slightly lower price, but the shipping can quickly kill your savings. Start watching for free shipping offers – like Target has already begun. They have brought back their free shipping with no minimum for the 2016 holiday shopping season. Also, to increase your savings, shop through SavingsAngel.com/ebates to get cash-back on your purchases.
– Sign up for the email lists of retailers that carry the items you're seeking. You'll be alerted to new sales, special offers, coupons, and more. This is a good way to hear about Pre-Black Friday or Pre-Cyber Monday sales, which can sometimes yield a better deal than later on.
– Don't buy anything without a coupon or coupon code from Retailmenot.com. They have coupons that even will work with Black Friday and Cyber Monday sales, so don't check out before combing Retailmenot.com.
– Finally, start shopping Giftcardzen.com (powered by Retailmenot.com) now for discounted gift cards, for stores you know you'll shop – and then use them later to pay for your items. That way, you easily compound your savings.
