Do you have your shopping list ready for Black Friday? A map of all the stores you’re planning on visiting and even the exact department to speed walk to when you get inside?
Black Friday takes us by storm every year. But the good news is that in recent years, you don’t even have to leave the comfort of your home. No more waiting in lines outside in the dark and cold, all of your online shopping can be done while watching football on the couch. In fact, in 2021, 88 million Americans shopped online on Black Friday, and about 155 million participated in this day in total.*
So are the deals really that good? Is shopping on this holiday weekend really worth it?
It depends who you ask, but the resounding opinion is that while there are a lot of discounts this time of year, it’s also possible to find them or even better sales throughout the year itself. Last year, the average savings on Black Friday was just 24%, with most shoppers spending about $430.*
If you’re wondering whether or not you should bother this year, ask yourself where you’re planning on shopping and what the items are being used for. Are you getting a head start on your Christmas presents that you’ll inevitably be purchasing in the next month or so? Then saving about a quarter of the price might be well worth it.
Are you purchasing a new electronic which replaces something that still works just fine? Is it just because it’s on sale? Then the purchase might not make you as happy in the long run as it would right away. Finally, are you shopping for things that you’ll use throughout the year, but may be left collecting dust for several months in the garage? Then waiting, spacing out the purchases, and looking for even greater deals during the year might be the way to go. This is especially true if you’re mostly shopping at large retailers like Amazon who frequently have flash deals and even Prime Day’s throughout the year. When shopping local, sales like these might be harder to come by and the Black Friday deals could be more sensible.
Ultimately, we all know that virtually anything we need is on sale this time of year but it’s important to recognize that it’s typically not the only discount opportunity of the year. Making conscious purchases and keeping in mind the value that they bring is a great start in determining whether Black Friday shopping is really worth it this year.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.