Secrets To Getting The Best Deals On Black Friday
MIAMI (CBS4) - Black Friday sales offer potentially great deals but like everything else, there are a few secrets you need to know to make sure you stretch your bucks as much as possible.
Because of our soft economic recovery and stalled retail sales, most retailers aren't even waiting until Black Friday to start advertising their deepest discounts.
"It's a race for consumer dollars and retailers are coming off slow sales so they're starting early because they want to make sure they get a piece of the pie," said Matt McGrath of Corals Gables based Evensky & Katz.
But are "Black Friday" deals this year's best bargains?
According to CNN Money, as retailers cut back inventories to trim their bottom lines we can expect limited sales merchandise with the best deals coming at specific times of the day. Since gold has been hitting record highs, smart shoppers can expect the best discounts only on gold-filled or gold-plated jewelry.
"I think it's probably more hype than great deals since, because of limited supplies, the best deals may only go to the very first few people in line at 5am or midnight," said McGrath.
"Timed sales" may offer the lowest prices if you're shopping for specific items like electronics, which usually start at midnight. Clothing is usually marked down at the start of the day, with late afternoon seeing the best bargains for cosmetics and jewelry, according to Marketwatch.Com.
And don't forget no matter when you shop, compare online prices first so you know is really the best money saver you can find. If you have a smart phone, use the "Price Scanner" or "Barcode Viewer" apps to double-check your store's discount.
CBS4 Chief Consumer Investigator Al Sunshine said he recently went shopping and thought he had found a good deal on a new camera. But when he scanned its barcode with his smart phone he found the exact same camera for sale at the store's online site for $50 cheaper. The store clerk checked out the discount and then, with about two minutes worth if high-tech double checking, he got the in-store deal for $50 bucks less than expected.
Some of the country's biggest online vendors, including Amazon and Walmart are posting their Black Friday ads online to stimulate early spending. And many are already promoting early "Cyber Monday" deals which normally wouldn't come out for another week. If you shop online, look for those free-shipping deals to save as much money as possible. If shopping locally and in person is more your style, don't forget about using cash as much as possible.
It not only will save you all your credit card interest when the bills come due, but you can demand a cash-only discount and be sure to get the lowest prices possible.
