Why Black Friday Is a Bad Day to Impulse Buy
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Food, clothes, home goods: If you can buy it, chances are there’s a Black Friday deal being advertised for it. But just because you’re snagging something with a so-called Black Friday markdown doesn’t mean you’re actually getting the best deal in the long run. With electronics in particular, the cheap price tag might mean getting tricked into buying a cheap models of what you really want. Here’s how to avoid misleading Black Friday “deals” and make sure you’re getting the best bang for your buck.
Cheap products aren’t the same thing as a good deal
When you see a clothing item or kid’s toy with a big ol’ Black Friday tag slapped on it, it makes sense to take advantage of that deal. Chances are it is the same exact product on other days of the year. The same can’t be said for a TV, though. Stores often take cheaper, shoddier versions of the same electronics and mix them in with the legit offers. You might end up purchasing a Black Friday “deal” that actually has inferior components.
So sure, you can go with the cheaper TV on Black Friday, but think about the value of what you’re buying. As the Motley Fool puts it, “You may be better off spending $1,200 on a TV that lasts for eight years versus an $800 Black Friday special that only lasts half as long.”
Do your research and wait for Cyber Monday
In order to avoid a low-key scam, you should do your research. The easiest way to tell that you’re getting the correct product is by checking the model or serial number. And with online shopping, finding and double-checking those numbers is quick and easy.
On that note, when it comes to electronics, you might be better off skipping Black Friday in favor of Cyber Monday. According to reporting in USA Today, the Monday after Thanksgiving is generally the cheapest day for buying electronics, with an average discount of 18% across 17% of items. Then again, you risk more “out-of-stock” results if you wait, so the risk is up to you, depending on the popularity of the item you’re eyeing.
At the end of the day, retailers are selling items at a price point that still benefits them over you. Don’t fall victim to a falsely-advertised lower-quality product, and make the most of holiday deals by doing a little research ahead of time.
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