Black Friday – Nov. 24, 2023 – is quickly approaching. As you plan your shopping strategy, here’s what experts say you should and shouldn’t buy.
What You Should Purchase on Black Friday
You can likely score a great deal on items in the following categories:
Kitchen Gadgets
Kitchen gadgets are often deeply discounted on Black Friday.
“Black Friday is the clear winner for small household appliances and cookware, with doorbuster deals reaching 60% off or more. Instant pots, air fryers and cookware sets will have the deepest discounts of the year. I hold off the urge to replace any kitchen item until Black Friday if I can,” says Melissa Cid, consumer savings expert for MySavings.com.
Fitness and Sports Equipment
If you’re a fitness buff, or hoping to become one, Black Friday can be a good time to get some new gear or even a new gym membership.
“Keep an eye out for deals on wearables, home gym equipment and sporting goods. Also, there are often deals at popular gyms and studios,” says Misty Lynch, a certified financial planner and the owner of Sound View Financial Advisors LLC.
Electronics
Deals on electronics have long been front and center on Black Friday, and for good reason.
“Last year I took advantage of the early Black Friday price on an HP laptop and I absolutely love it. The deals tend to come out early in some stores, which gives you time to read reviews and choose wisely. And, if you need a TV, check out the doorbuster deals. You might save hundreds,” Lynch says.
Best Buy is currently offering hundreds of dollars off laptops, TVs, soundbars, noise-canceling headphones and more. One TV in particular is normally $1,299.99 and is marked down to $549.99 – a $750 discount.
“Prices on tablets and e-readers also tend to get slashed on Black Friday – but quantities might be limited,” Lynch says.
Video Games
For those shopping for gamers, Black Friday can be a good time to buy the latest.
“Black Friday sales have the lowest prices every year for all of the popular video games, including new releases. As a mom of two teen boys, I can’t stress this enough,” Cid says.
What You Should Avoid on Black Friday
Now that you know what the bargains are, here are a few potential Black Friday busts:
Outdoor Equipment
One of the biggest outdoor gear retailers, REI, abstains from Black Friday, so it won’t be offering any deals on that day. Instead, it holds an anniversary sale in May of each year, when you can find steep discounts on high-quality products with lifetime warranties.
Beauty Products
For beauty products, you may
“Cyber Monday is the best time to buy all things beauty. Along with the deep discounts, there are usually some great bonus buys and free gifts that come with your orders,” Lynch expresses.
Holiday Decorations
With Christmas right around the corner, many retailers offer Black Friday discounts on holiday decorations like Christmas trees, garlands, wreaths and inflatables. Unless you absolutely need them for this year, it’s best to wait.
“These should be bought a year in advance, right after the holiday you are looking to decorate for. Halloween, Thanksgiving and Christmas items are usually 50% to 75% off right after the big day.” Lynch suggests.
Furniture
You may be able to find discounts on furniture, but better deals often come at the end of winter and summer. During those months, stores need to clear out existing inventory for the new spring and fall collections. Bigger furniture sales also tend to happen on Presidents Day, Memorial Day, the Fourth of July and Labor Day.
“Don’t bother looking for deals right now on furniture. Wait for January to get a better deal,” Lynch advises.
Toys
If you have little ones in your life, you likely have a few toys on your Christmas shopping list, but Black Friday isn’t necessarily the best time to buy them.
“Prices on toys drop after the second week in December, but don’t wait if it is the year’s hottest toy since it may sell out,” Lynch suggests.
Tips for Black Friday Shopping
Hopefully, these guidelines help you land some great deals. But beware, retailers can be tricky.
““Even though it feels good psychologically to buy something with a big 50% off tag, most of the time it’s an illusion. Many companies will artificially inflate the prices of their goods in the run-up to big sales events so that they can slash them for Black Friday,” says James Beckett, a financial coach and owner of the personal finance website MoneyStocker.
Beckett adds that it pays to have a healthy dose of skepticism and use services like Camel Camel Camel to track the price history of items.
