What is Black Friday?
Black Friday is the official start of the holiday shopping season. Traditionally, it is the day on which retailers begin to turn a profit, or are in the black. On Black Friday, a variety of products (electronics, apparel, toys, etc.) are available at their lowest prices of the year. Limited-quantity doorbusters draw crowds of shoppers to stores at special early hours. This year, many retailers are opening their doors on Thanksgiving night and online sales will begin as early as Thanksgiving morning. That means an extra day of opportunities!
Black Friday Myths
Black Friday Sales Begin on Black Friday
Black Friday is now a full season. Sure, Black Friday proper is the main attraction, but stores have increasingly started to release deals in waves. Bargains can be found early in the week of Thanksgiving and run all the way through the weekend. The bottom line is, if you're doing all your deal-hunting exclusively on Black Friday, then you're missing out.
You're Missing Out if You Only Shop Online
Companies advertise door busters in order to attract customers to their brick-and-mortar stores. But in recent years, as competition has escalated among rival retailers, those eye-catching deals have steadily moved online as well.
The reason is simple. Traditional retailers like WALMART, TARGET and BEST BUY know that online retailers like AMAZON will match their best prices on in-store deals. Thus it only makes sense to offer the same deals online, to remain competitive. The goal is to beat Amazon, but the real winners are deal-hunters.
Black Friday Shopping is Dangerous
We've all seen the footage. Hordes of crazed holiday shoppers stampede into a store at four in the morning, trampling anyone and everyone in the way. It makes for a morbidly fascinating spectacle, a case study for shoppers as social Darwinists, played out on live TV.
But the truth is that those sorts of incidents are actually extremely rare. We just happen to see the worst on the news because it translates into great TV. While you should be aware of the potential for chaos during your in-store shopping, know that it's unlikely to reach aggressive proportions.
All Black Friday Deals Are Amazing
Shopping 101. Remember, retailers are in business to make a buck, and they can't do that if they lose money — or even make too small a profit — on every deal.
Some deals are great, but others are filler. The great ones are there to lure you into buying more stuff, ideally at a healthy markup. So do your research and uncover the truth about those "rock bottom" prices before you buy.
Online Shopping is Always Easier
As anyone who's lived through Black Friday knows, the online experience isn't always stress-free. Technology isn't perfect. Websites can crash or even fail. And when everything works properly, some deals will simply sell out before you can place your order. The latter is a common complaint for flash sales from Amazon, for example. But at least you're still shopping from home!