FILE – Black Friday sale signs are seen at a Target store in Chicago on Nov. 26, 2024, ahead of the Black Friday shopping day. (Photo by KAMIL KRZACZYNSKI / AFP) (Photo by KAMIL KRZACZYNSKI/AFP via Getty Images)
Black Friday shopping has become synonymous with big savings, but are you actually saving that much?
Some experts say it depends on what you’re buying.
WalletHub compared prices pre-Black Friday and after and found that 36% of items offer no savings. But that’s not the case for everything that goes on sale during one of the biggest shopping days of the year.
Here’s where retail and marketing experts say you can get the most bang for your buck during Black Friday sales:
Best types of products to buy on Black Friday
- Consumer packaged goods
- Apparel and accessories
- Jewelry
Worst types of products to buy on Black Friday
- Appliances
- Computers and phones
- Furniture
What they’re saying:
In the past, experts have said new electronics, toys and gaming consoles were the items to buy as they’re usually on sale for a deep discount. But with recent changes made by the current administration, that might not be the case anymore.
“But tariffs and inflation pressures have made these usual recommendations somewhat uncertain,” P.K. Kannan, a professor and the Dean’s Chair in Marketing Science at the University of Maryland’s Robert H. Smith School of Business, told WalletHub. “Toys generally come from China and hopefully with the new agreements between the U.S. and China, tariffs may be on the lower side, if at all. In any case, it is best to check out the prices and shop around a bit for good deals given this uncertainty.”
Big picture view:
For the most part, shoppers can find great deals on those much-needed items on Black Friday that are very much worth it.
“If you are making a big-ticket purchase (like an appliance, TV, or high-end electronic) and you can wait, then absolutely. This is one of the few times you’ll see significant discounts and special financing on major brands. It’s not worth it to hunt through endless lists of $20 items just to save $3. Those items are a net loss; your time and mental energy are worth more. More often than not, the 0% financing for 36-48 months is the real deal,” Michael Carr, assistant professor at Thomas More University, said.
The Source: Information for this article was taken from a WalletHub report. This story was reported from San Jose.
