While the holiday shopping season is in full swing, the “official†kick off is nigh: Nov. 27 to be exact, a.k.a. Black Friday. But with the economy in a slump and unemployment at record numbers, how do we shop smarter for the holidays–if we’re even shopping at all?
“Job losses and uncertainty about the future are making for a very frugal shopper,†said Lynn Franco, director of the Conference Board Consumer Research Center. “Retailers will need to be quite creative to entice consumers to spend, both in stores and online this holiday season, as consumers most certainly will expect major markdowns and bargains.”
U.S. households are expected to spend an average of $390 on Christmas gifts this holiday season, down from last year’s $418, according to the Conference Board.
From now until Christmas I’ll be observing, critiquing, analyzing, recommending, and opinionating on the silly season, er the holiday shopping season. Without further adieu, let’s dig in.
Black Friday
Black Friday used to be the day that merchants–and us in the media–refer to the beginning of the period in which retailers go from being in the red (posting a loss) to being in the black (turning a profit). Now it is all about getting the best deal on the hottest electronic item.
Type “Black Friday†into Google and you’ll get more than 100 million results. Flat-screen TVs, books, outerwear, toys, and video games are the usual suspects of specials available to consumers the day after Thanksgiving. You can go to your favorite retailers’ Website to find out about their Black Friday deals, or swing over to some of the aggregators that post multiple store fliers on their site, making it easier for you to compare deals. Check out black-friday.net, bfads.net, and slickdeals.net to name just a few. There are even free iPhone apps to help keep track of the deals.
The best deals are the early-a.m. doorbusters, or loss leaders, that retailers will use to entice shoppers into their stores. Sadly, the term doorbuster is becoming all too accurate and has led to numerous injuries and at least one death year. The problem with doorbusters is people line up for hours and hours and by the time doors open at 5 a.m. or 6 a.m., they are antsy, cold, and will do just about anything for their bargain.
But be wary of those doorbusters. There are
usually very few items available, rainchecks aren’t usually provided, and the electronics items might be models that have “less features than a standard model in that product line,†says CNN.According to the National Retail Federation, 10.3% of shoppers will get to the store between midnight and 3 a.m, 28.8% will check out the early-bird specials and head out between 4 a.m. — 6 a.m., and 28.2% will go between 7 a.m. — 9 a.m.
I don’t plan on getting up at the crack of dawn on Friday–or not going to sleep Thursday night–so I can line up in front of a big box store with the hoardes of people to save a few bucks on a TV. But if you must, here are some tips:
If you plan on being one of the estimated 134 million people who will shop this Friday, Saturday or Sunday, having a shopping strategy.
1. After you’ve hit the Web for your favorite stores’ ads, get your local paper and go through those ads. There might be some deals advertised locally that aren’t showing up online.
2. Do your homework. Research the big-ticket items you’re interested in. Check out ConsumerReports.org or other sites for product reviews.
3. Make sure you’re really getting a deal. Is waiting in line for hours worth it if you’re just saving $20 on a TV? Visit Fatwallet, Walletpop, BizRate, and similar sites to get an idea of what your prized item normally costs.
4. Have a list and stay on budget. Don’t go rogue and try to buy everything you see. Know who and what you’re shopping for.
5. Pick the right shopping friend. You want someone that is like-minded, will talk you out of buying junk just because it is on sale and is supportive. Leave the kids at home, recommends MSNBC.
6. Dress accordingly. Dress for comfort. Wear sneakers, bundle up if you’ll be outside, and ladies, wear a cross-body purse or backpack to keep your hands-free. Keep an eye on your wallet and keep it tucked away so Sticky Fingers Charlie won’t ruin your day.
7. Stay calm and treat others how you’ll like to be treated. As a veteran NYC sample sale shopper, I’ve had people snatch items out of my hands, deliberately cut me off as I’m walking to an item, and generally forget their manners. However, I refuse to behave in that way. I always say please, thank you, and excuse me. I am extra polite in these situations because it enhances my shopping experience and I hope rubs off on others. Don’t lose your head–or dignity–over a bargain.
If I shop at all I am going online Thursday, Friday and for CyberMonday, which is just another shopping scheme to get me to part with my money. I am spending Thanksgiving in the very cold northeast in a hamlet of just 1,200 people and there is nothing that can drag me out of my warm bed the day after chowing down on Tofurky and stuffing.
Just so you know, many retailers are offering many doorbusters online Thursday and Friday. Don’t forget to fan/follow retailers on Facebook and Twitter because they often post special offers on those sites, says Michelle Madhok, founder of shefinds.com. Check out your favorite retailers’ site or the aggregators and have your debit card handy.
What’s your shopping strategy? How much do you plan to spend this weekend? Follow me on twitter and share your Black Friday shopping tips and dispatches from the shopping trenches.
Deborah Creighton Skinner is the editorial director at BlackEnterprise.com