The Black Friday date for this year is November 23, 2012. Leaked ads and early bird deals for retailers like Walmart, Target, Kohls and Best Buy are already flashing on smart shopper radars. In today’s Scambook TV video, Kevan reveals some secrets the retailers don’t want you to know and why you shouldn’t shop on Black Friday 2012. Kevan tells us why you should sleep in on the day after Thanksgiving. The number 1 reason is that sale prices on hot holiday gift items like Furby and Microsoft Surface tablet PC aren’t actually the lowest on Black Friday. Consumers can be struck with “Black Friday Tunnel Vision,” ending up with a bad deal or going over their budget because the Black Friday hype clouds their judgment. Sometimes, retailers will also change their returns and exchange policies for items purchased on Black Friday. For these reasons, Kevan advises shoppers to stay home and sleep off their Thanksgiving turkey. The deals on Black Friday just aren’t worth the hassle.
We’ve all seen the ads. The Friday after Thanksgiving is commonly believed to be the best day for low prices and retail deals, kicking off the holiday shopping season with $200 laptops and door-buster discounts on big screen TVs. It became known as Black Friday because it traditionally marked the point where retailers got “back in the black.” Stores lower their prices to spike profits, consumers get great bargains, everyone wins. At least, that’s how it used to be. Kevan’s “secret” evidence suggests that Black Friday is no longer the best time to shop. Let’s look at his points.
3 Reasons Why You Shouldn’t Shop on Black Friday
1. Those hot deals might be cold.
Think Black Friday has the best deals? Think again. Many consumer experts and sources such as The New York Times and The Wall Street Journal are pointing out that Black Friday bargains are no longer the lowest prices of the season. In recent years, the holiday shopping season has extended dramatically. It used to start after Thanksgiving, but now many stores begin advertising Christmas sales in September! These early special offers are frequently lower than Black Friday prices.
But don’t worry, it’s not too late! Industry analysts say that post-Black Friday sales also have better bargains than the day after Thanksgiving. The Monday after Black Friday, known as Cyber Monday, usually kicks off a week of unbeatable online discounts. Prices are also slashed during the weekend right before Christmas, especially for children’s toys and winter items. These gifts have a very short shelf-life, and retailers are trying to clear their inventory before the New Year.
2. Black Friday hype can cloud your judgment.
TV commercials, radio ads, online banners, newspaper ads — Black Friday hype can be inescapable! When you hear nothing but how unbelievable the deals are, and how you need to act now before they’re gone, you may get “Black Friday Tunnel Vision.” Black Friday Tunnel Vision is the inability to think clearly because you’re in a bargain shopping frenzy. Stores take advantage of this. They line their shelves with impulse-buy goods. Before you know it, you’ve gone over your holiday budget. What’s worse, you might not be able to return your Black Friday purchases without consequence. This brings us to our next point.
3. Changes to returns and exchange policy.
Sometimes, retailers adjust their returns and exchanges policies for items purchased on Black Friday. You may be unable to return or exchange your purchase, or you may be charged a restocking fee. Although these policy changes will most likely be described in the fine print on an ad, it can be easy to miss if you’re not expecting it. This is especially true if you’ve got Black Friday Tunnel Vision.
Last year, Scambook saw a sharp peak in complaint submission right after Thanksgiving because shoppers got poor deals and bad experiences on Black Friday. We hope we won’t see a repeat this year! Enjoy your Thanksgiving dinner with your family, sleep in and wait for better deals after Cyber Monday and the weekend before Christmas.
But if you’re still determined to shop on Black Friday, stay tuned to Scambook TV and the Scambook Blog. We’ll be bringing you retail safety tips and other information you need to protect yourself during the holiday shopping season.