Black Friday is only a couple of weeks away. And you may be gearing up to dip into your savings to capitalize on the gazillions of deals that are apt to hit the shelves that day.
The average shopper spends an estimated $480 on Black Friday, according to Capital One. But here are three reasons you may want to skip out on Black Friday this year — and shop before or after the big event instead.
1. The so-called deals are often special-run products of inferior quality
Isn’t it amazing how retailers are able to offer so much money off of things like laptops and TVs when Black Friday rolls around? Well, there’s a reason for that. Often (though not always), the electronics you see advertised at those ultra-low Black Friday prices aren’t the exact same models you see on the shelves year-round.
It’s not uncommon for manufacturers to create Black-Friday-specific versions of products at a lower price point. But these products may consist of inferior parts that result in a shorter lifespan. So it’s important to know exactly what you’re getting.
A good way to find out if you’re looking at an inferior product is to jot down the serial number and then see if you find that same serial number available at other stores. If so, then you may be looking at an actual good deal.
But if you can’t find the model you’re eyeing elsewhere, then perhaps you’ve found yourself a Black-Friday-only version of whatever it is you’re buying. At that point, you’ll need to ask yourself whether it pays to scoop it up at a lower price and take a chance on quality, or buy the original version.
2. If you miss out on the doorbusters, you might not get a good deal at all
Some of the Black Friday doorbusters you see advertised may be so appealing that it’s worth getting up at the crack of dawn to snag them. The problem, though, is that some retailers stock a very limited quantity of doorbusters and run out quickly.
Put another way, if you’re that person who gets to the store at 6:00 a.m. to be the first in line, you may find that there are already 10 people ahead of you. And if the store only has 10 of the specific item you want, you may be out of luck. In that case, why torture yourself and lose sleep?
3. You’re wired to assume you’re getting a good deal, but you may not be
Since Black Friday is synonymous with bargains, you may be quick to assume the prices you see that day are all excellent. In reality, aside from select products, the prices you’re offered may be just OK.
Remember, retailers can slap the word “sale” on a product without you being any the wiser. And while this is an issue year-round, consumers tend to have Black Friday tunnel vision because of all the hype. So if you shop on Black Friday, you may end up getting stuck paying more than what you’d spend another time.
If you’re sitting tight on the holiday shopping front in the hopes of snagging some awesome deals on Black Friday, here’s a tip. Stop waiting, and start looking at retailers’ prices now.
A lot of stores are already offering discounts on inventory. And you may find that you’re able to get a better price now than what becomes available once Black Friday rolls around.
Similarly, you may find that you can snag better deals toward the end of December, once retailers are ready to move unsold holiday inventory off of their shelves. If you’re planning to shop on Black Friday for yourself, as opposed to buying gifts, then holding off until the end of the year could be a better bet.
And remember, even if you end up paying a tiny bit more for a given product outside of Black Friday, you might benefit from a less stressful shopping experience. So there’s value in that, too.
And if you use the right credit card, the rewards you get on your purchases could make up for paying a few dollars more here and there. Click here for a list of the best cash back credit cards. And then remind yourself that if the idea of hitting the stores on Black Friday sounds absolutely horrible, it’s not the end of the world to shop before or after the big event.