Black Friday is right around the corner, and you’re gunning to get the best deals this year. We reached out to the experts to find out what retailers don’t want consumers to know. Here’s how to get the best deals this year!
Low Inventory Triggers Panic
One trick that many unethical online businesses pull is showing deceptively low levels of inventory. The Founder of eCommerce business, Illuminate Labs, describes the panic consumers feel when they see “Only 10 left!”
They’re more likely to make an impulsive purchase so they don’t miss out on the opportunity. This is a way to manipulate human psychology to drive sales.
Another shady tactic described by the COO of www.Groominghut.com is labeling clearance items as a “sale.” This enables companies to get rid of extra stock items they were planning to get rid of anyway, but they disguise it as an exciting sale.
Second, retailers may mark up some of their items and then list them for sale, bringing the price back to where it originally was.
Third, retailers will promote an item as “on sale” even if it has already been on sale the whole year. Only those who are not frequent shoppers will overlook it and think it is a Black Friday deal.
The Best Things to Buy on Black Friday
Electronics: Electronics will sell out the fastest on Black Friday. If you see a good deal on TV, computers, tablets or phones, pick it up immediately!
Video Games and Consoles: Black Friday is a big time for gamers, so look out for savings on video games and video game systems.
Small Appliances: While there will be big-ticket items deeply discounted on Black Friday, don’t discount the smaller kitchen appliances you’ve been eyeing. Look for items like coffeemakers, electric skillets, slow cookers, toasters, deep fryers, blenders and rice makers.
Clothing: Black Friday is sure to bring savings on all kinds of clothing. Now is a good time to gear up for the cooler months ahead with some discounted outerwear.
Time-specific travel: Those lucky folks with flexible schedules can scoop up some stellar vacation deals this Black Friday. Ski destinations, for example, which see peak visitor numbers December through March, are likely to push Black Friday/Cyber Monday bargains for their ‘need’ periods, which are the first and last few weeks of ski season.
What to Avoid on Black Friday
Furniture: You may find ads for doorbuster deals on furniture from your local department stores, but don’t give in to the hype. Black Friday is not the time to buy these items. Indoor furniture is at its lowest in January, July and August. The best discounts on patio furniture happen in August and September.
Spring airfare: Sometimes buying airline tickets far in advance does not always yield the best airfare. Wait until after January to purchase airline tickets for spring travel. The optimum window in which to purchase airfare this time of year is about six to eight weeks out.
Toys: Don’t jump at the first toy sales you see. The best deals on toys are found about two weeks before Christmas.
Bedding: Cooler weather may have you wanting to curl up in a new set of sheets and bedding, but hold off on these purchases. “White sales” are held in January, where all matters of linens, sheets, bedding and towels will be heavily discounted.
Fitness Equipment: Most studios, classes and equipment will be heavily discounted in the new year to keep up with New Year Resolutions. Hang tight on fitness-based purchases until then.