Income and Investments Are Black Friday and Cyber Monday Deals Worth It? Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Jim Wang Modified Mar 21, 2022 3 min read With Thanksgiving approaching this week, you might be thinking about a strategy for your Black Friday and Cyber Monday shopping after the big meal. Are the deals really worth it? How can I make sure I’m getting the best prices on my purchases? How are stores able to even offer such fantastic deals? To help resolve your outstanding Black Friday and Cyber Monday shopping questions, we’ve gathered a few of the top questions and their answers below. What Are Doorbusters and Loss Leaders? The items that get people wound up for Black Friday and Cyber Monday are known as doorbusters and loss leaders. These items are offered in limited quantities and you can only get these deals if you shop at certain times. These deals often center around items that are popular and heavily discounted. The store might even take a loss on the items (hence the term loss leader) hoping that you will buy other items while in the store or online. The result of these loss leaders is that the other purchases you make have wider profit margins that result in a net gain for the store. Some of the most popular and heavily discounted items for these types of deals include computers, tablets, TVs, and other consumer electronics. They’re typically higher dollar items because it’s far more exciting to save $100 off a $2,000 item, than $1 off a $20 item. Is It Worth Getting Up Early and Camping Out? Since many of the special offers have a limited quantity, some people are willing to get up early in the morning (or even camp out overnight) to be first through the door to guarantee they get the deal. Unless you are willing to go to these lengths, there is a good chance that you won’t be in the store early enough to take advantage of the very best deals, like gaming systems or televisions. Sadly, there is no guarantee that you will get the item and the savings might not be as good as you think since many retailers inflate prices to make it look as though you are getting a discount. Also, you might miss out on time with your friends and family…and you can’t put a price tag on that! How Do I Get the Best Deal? If you want the best deals during the holiday season, your best bet is to follow tried and true methods for saving money: Shop around: Look for the best deals online and offline. There are plenty of apps that can help you compare Black Friday and Cyber Monday prices and even compare past pricing data to see if you really are buying at the lowest price. Price matching: Shop at stores that agree to price match so that if the price drops later, you can take advantage of the savings. Also, see if you can get price matching so that you don’t have to go from store to store, thus saving you some time and headache. Prioritize: Decide which deal is most important to you if you decide to stand in line. Pick the most important item, and focus on that. Plan your shopping around priorities and assume that if there are limited quantities, you’ll only be able to get a couple of your high priority items. It’s also a good idea to set a budget for your holiday spending, so you don’t go overboard with splurging on deals. In the end, it’s not much different than shopping any other day – it’s all about doing your research and planning ahead, minus the freezing temperatures and enormous crowds! From duty free shopping to Black Friday savings, there are plenty of ways to save money – just do your homework! Written by Jim Wang More from Jim Wang 4 responses to “Are Black Friday and Cyber Monday Deals Worth It?” I am at home in my pajamas too! Plus, by shopping online I am saving another $28 (50 miles of driving @ 56 cents a mile). Someone could say that is offset with shipping charges, however, many sites have free shipping after a minimum dollar amount spent. As long as one sticks to the list of what they plan to buy and avoids impulse buying they may very well come out ahead. Plus, sipping on a coffee with Irish Cream while shopping is priceless. Reply Hi Amanda, I included that section just to provide some kind of numerical baseline to make that decision. I realize most have the day off, but that’s how most people calculate the value of their time, so I went with that. Personally, I find my time to be worth more than my calculated hourly wage! Reply These are good tips but I don’t find “the time worth it” section to be accurate. If you already have the day off because your employer isn’t open that day, the $26/hr argument doesn’t apply. If you took the day off specifically to go Black Friday shopping, then it makes sense. But my time spent with family and lounging in my pajamas after my turkey induced coma, is worth more than the fighting and traffic of Black Friday. I stopped going shopping on Black Friday about 5 years ago when store became so packed at 6 am that you couldn’t even move through them by yourself, let alone a shopping cart. Thanks for reinforcing why I don’t do this anymore. Reply If you’re paid $50,000 a year, you likely already have the day off–with pay. 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