Black Friday Predictions & Tips
Black Friday, also known as America’s biggest shopping day of the year, is almost a week away and shoppers are intrigued about what discounts and deals they will find. A National Retail Federation (NRF) shopping survey reported that 138 million people anticipate to shop this year’s deals and give-a-ways, up 4 million from 136 million who were expected to shop last year.
212 million people actually showed up and shopped, spending roughly $365 per person or about $45 billion on Black Friday deals and steals last year – significantly higher results than predicted. With an unpredictable stock market, lackluster economic growth, and European economic issues having negative effects on global economies, people are wondering if consumers are confident enough to show up and shop this year? Although it is impossible to predict the future, the BlackFridaySales.com holiday shopping survey predicts this year’s sales will increase by at least 20 percent over last year.
Dozens of experts predict how Black Friday will turn out, but only time will tell. In the mean time, the savvy savers at MissMoneyBee.com came up with Black Friday shopping tips to curb overspending.
Black Friday Savvy Shopping Tips:
- Make a plan – Figure out who and what you are shopping for. Make a list of everything you plan to buy – it will keep you focused and prevent you from buying things just because they’re a great bargain.
- Create a budget — Use Consolidated Credit’s holiday spending planner worksheets to plan your holiday spending. Know ahead of time exactly how much you can afford to spend. As items pile up in your cart, add up how much you’re spending and compare it to your actual budget.
- Check return policies – Particularly with black Friday one-time deals, you may find it more difficult to return items. Be familiar with your shopping destination’s refund/exchange policy in advance and double check if the online policy is the same as in-store. Check with your credit card provider as well to see where you stand on fraud protection.
- Mobile apps – Mobile apps can save you time and money. Here are some great and FREE mobile shopping apps to use this holiday season: Shopkick (Android and iPhone), RedLaser (Android and iPhone), Google Shopper (Android), ShopSavvy (Android and iPhone), Points Inside (Android and iPhone) and Key Ring Rewards (Android and iPhone).
- Pay with credit – If you’re a responsible credit card user, consider shopping with plastic. This provides you with greater protection then paying by cash or check. If the item ends up not meeting your expectations, or if there is a problem, you may even be able to get your credit card companies’ help in obtaining a refund. Plus, if you have a credit card rewards program, you could rack up points while shopping.
- Shop after 6:00 p.m. the night before the sale starts – Retailers often program sales in registers the night before, meaning the sale will come up on the register even if the selling floor signs haven’t been changed. Ask in advance about any possible upcoming sales, especially on big ticket items.
- Safety first – Take safety precautions, watch your personal belongings at all times. Mentally locate the nearest security office or officers in case an emergency occurs. Stores are not responsible for lost or stolen items, it’s up to you to be aware of your surroundings.