There’s no denying Black Friday is the biggest shopping day of the year.
Besides marking the countdown to the holiday season, it’s a day we start collecting holiday debt, as early as 12:01 a.m.
This year the Nielsen company reminds consumers of a few factors to consider this year: One in five American plans to shop the war path this year, and most will spend between $400 and $500 by 10 a.m., when most of the door buster deals end for the year.
With the economy in its current downfall, it’s no wonder that many will participate in this holiday rite of passage.
Here are five tips to help you get the most bang for your buck.
Create your shopping list ahead of time.
One of the best ways to save and be the most effective on Black Friday, is have your shopping list of Christmas gifts written down. That way, you know what you are looking for specifically, and this helps you create your best plan of attack. Along with this, make sure to allow time for traffic and long checkout lines as you create your itinerary. The average line at Kohl’s last year between 3 a.m. and 10 a.m. was 30 minutes, just to checkout.
Research all door busters.
Door busters will always provide the biggest discount. Word of advice, make sure you read the fine print, often door busters are very limited in quantity, these are the ones you (and many others) may consider camping out for.
Embrace social media deals.
With plenty of buzz around Facebook, Twitter, Foursquare, and Linked In among others – many retailers are planning special discounts through these mediums. For example, The Disney store is planning to have a “Four Square by Droid special” every hour – but you only unlock it if you check in at the appropriate time. Many other retailers will post “deals” with code words, coupons, and the like on their Facebook page – make sure to ‘like’ them before it’s too late.
Buy with plastic.
While this wont save you money, it will save you headache and pain. Paying with plastic gives shoppers added protection, and makes returns throughout the season easier – especially if it’s for a credit (most retailers offer a double price difference if your item goes lower than the black Friday price before Dec. 26). Plus, if it’s a rewards card, you can rack up those points, to help out in January, which is also known as the poorest month of the year as we recuperate from the extra spending.
Finally, for shoppers who hate traffic and lines, and can’t stand 24/7 holiday music, then perhaps consider the new black Friday craze – online sales.
Retailers and popular merchandise websites (such as amazon.com) will have specials, where you can just click from your laptop, roll over, and sleep.
Happy spending on Black Friday and Joyous Holiday season!