Consumer advocates say these Black Friday deals may not be real

November 29, 2024

Thursday is Thanksgiving. Friday, we’re shopping! Black Friday is a once-a-year opportunity to save in a way you’ve never done before. Or is it? Were there no Black Friday promotions advertised last week? And won’t there be a sale on Saturday? And in January?

If you’re confused, that could be a good thing, especially if it means you have to slow down and carefully consider whether the bargains are bargains at all. Capital One Shopping says Americans are poised to spend more than $20 billion this Black Friday, including online shopping, although Consumers’ Checkbook’s latest analysis found that most of the 24 major retailers whose prices they analyzed this claimed to be misleading consumers.

Because Black Friday isn’t a single day, you shouldn’t necessarily go shopping on that day, says Maurie Backman, personal finance writer at Motley Fool Money. She says you can find similar prices throughout the holiday season and that you shouldn’t be fooled by discount stores’ offers.

“If you haven’t been tracking prices throughout the season, you don’t really know what the original price was,” says Backman. “There’s nothing stopping a retailer from saying, ‘I’ll take this item that retails for $49.99.’ ‘I’m going to put a price tag on it for $89.99, then I’m going to take a red pen, cut a slot and sell it for $39.99.’”

Since there’s no law preventing this, Backman says the best way to avoid being fooled is to start tracking prices on items you want or need months before the holiday season.

It’s also common for retailers to work with technology manufacturers to have custom products made specifically for Black Friday. Backman points out that the reason that 80-inch TV you want is suddenly $500 cheaper on Black Friday could be because the components are inferior. She urges consumers to compare the model and serial numbers of the sale item with those of the exact product they viewed before Black Friday. If these do not match, it is a different product.

As for the Black Friday-only product, Backman says, “It’s not necessarily a bad buy.” However, she recommends asking yourself if you want a lower price for a product that may not perform as well or last as long .

And don’t let the “limited edition” scam fool you, she warns. Backman says most “limited edition” products are simply packaged differently and will almost certainly be available after Black Friday, after Christmas and even next year, although perhaps in different packaging.

For those not shopping over the holidays, Backman recommends waiting until after Christmas to look for bargains. This is when retailers start marking down products to clear their shelves of last year’s goods, and when people start returning unwanted gifts. The latter are usually in perfect condition but are discounted due to space or packaging issues, sometimes as minor as a dented box. This lasts until the end of December and into January.

Finally, Backman says that when shopping, you shouldn’t be forced to buy products you don’t need just because they’re on sale.

“If you see a toaster that’s normally on sale for $50 on sale for $30 and you buy it but don’t need it, you’re not saving $20. You spend $30,” she says.

Backman adds that if you go to a store to buy a few specific items and the store doesn’t have them, “you won’t have failed Black Friday if you leave empty-handed!”

Karyn Miller-Medzon produced and edited this interview for broadcast. Miller-Medzon adapted it for the Internet.

This segment aired on November 28, 2024.