The day After Thanksgiving (Friday) is known as Black Friday. This also is unofficially or officially start of holiday shopping season. Almost all stores come out with Doorbuster Sales with early bird special to attract consumers to their stores. People stand in line hours before store is opened, to grab the bargain of the year. Almost every store has something that interests every one. For bargain hunters, if there is a biggest festival in a year, that would be, no doubt, the Black Friday. In last few years(starting from 2013 to be precise),Black Friday Sales have started way before Friday-with some stores starting their Black Friday sales on Thanksgiving day & some even starting on Wednesday.It would not be surprizing to see Black Friday sale starting from Monday on that week. Therefore, revenue wise this is NOT the best day for stores.Biggest sales day now include Thanksgiving day, Green Monday and Cyber Monday.
Closest reason as to why it is know as Black Friday is given in Wikipedia – “Many retailers report some of their highest profits on Black Friday. The black portion of the name, “Black Friday” relates to businesses recording their losses in red ink and gains in black. This tradition lives on in modern accounting software, hence the name.”
– many stores are starting to publish their Black Friday Ad early in November or sometime they leak it even in October. Some stores then have additional black friday doorbuster items that they only reveal on their website
– Most Black Friday Sales go online when their Black Friday store sales start. Some in-store only Black Friday deals may not be available online. However, many Black Friday deals are available online
– Decide what you want in advance. You may NOT be able to cover all the stores and may not be able to get ALL the early bird Specials. So decide in advance what is the most important item that you absolutely need.
– Give preference to big ticket item as you will save more on those item. For example, you are likely save few hundred dollars on an expensive TV of over thousand dollar than on a shoes of £20. While both may be available at very good prices but may be on two different stores, so you may only be able to get one (assuming both are doorbuster deals), and saving on the TV may be in range of few hundred dollars while saving on shoe may be in under £50.
– If possible have a group of people, but everyone going to a different store. Each person going to any store may buy item for everyone else in the group. Although for some doorbuster items, store offer one slip to person, so you may not be able to get more than one such item.
– Check Price Matching Policy of stores. Some stores offer price match so instead of standing in queue you may just walk in to a store with no or less queue and that offers price match. (And yes, make sure that they have item in stock). Price Matching is always a tricky situation. Some stores may be kind enough to honour their words while other may NOT be. Some employee’s and Manager’s are also reluctant to offer price match.
– Buy in advance and get price adjusted on Black Friday day. Again, Some store may or may not adjust price. You may try return and re-purchase at Black Friday price on Black Friday. Again, some store may refuse to sale it back, stating that item has to go in first.
– Buy Only what you need. Many stores are strict on re-stocking fee which may range from 5-15% this usually applies to big ticket electronics & tech items.