Smart Holiday Shopping Tips: Navigate Black Friday Deals Wisely!

_{By Bromwich+Smith Staff | 909 words | Reading Time: 4 minutes and 32 seconds | Date: 2023/11/15}

Black Friday can be one of the most intimidating days of the year for any shopper. A day that drives you to make impulse buys with the thought that the price will never be this low again. The term Black Friday has been used for decades to describe many different events. In the 1950’s it described workers calling in sick after Thanksgiving to have a four-day weekend. In the 1980’s retailers used it to describe the day their business became profitable for the year, going from in the red to into the black. It wasn’t until the 1990’s that Black Friday started being used to describe what is now the biggest shopping day in the United States. Typically, Canadians have waited until December 26th- Boxing Day but with the surge of online sales came online Black Friday deals which have trickled down into the store and made it easier for Canadian shoppers to indulge.  

You might notice your email inbox- and your mailbox filing up with flyers from what seems like every store you have ever shopped with and then some you have never heard of. All offering the best deals for electronics, the “must have” items this year, or a sale price on any item you could imagine. While it can seem tempting to jump in and do all of your purchasing, its important to take a step back and think before you buy. 

We recommend starting your holiday season off just like Santa does and make a list. Write down every person who need to purchase for, their wish list and your budget. Once you know how much you actually have the ability to spend you can then allocate a budget to each person you are able to see what fits into your holiday budget. That new electronic your teenager is begging for might fit into your budget after all. This could be an ideal time to stock up for other items. Many parents like to pre shop for birthday gifts and have a stockpile ready for last minute birthday parties.  

Take the time to research the items you are intending to purchase. What is the cost when the item is not on sale, both online and instore. Some retailer may have inflated the price to make the new sale price look really enticing, while in fact it may be the same price it was 6 months previously. Look at reviews for those big-ticket items before you put down your money. Often in anticipation of Black Friday, brands will release Black Friday exclusive items, which may be lower quality than their typical items.  

Shrinkflation is a term that we are hearing more of, and the holiday season may be a peak time for brands to cut back. Your Christmas snacks may come in smaller bags, or the 4 pack of holiday themed socks you buy every year from the same store might come in a pack of three. Keep an eye out for these shrinking items and ensure you are purchasing based on the items you need and not what you previously received.  

Don’t despair! There are going to be some great holiday deals if you keep your eye out and are aware of what you are looking for and the value of the item. Items that have been on your Wish List may be on sale for a price you can’t ignore.  

Typically, sale items will be things that expire, and we don’t mean just food items. In the retail world fashion and technology are disposable. Trends come and go; technology updates and the older models are not as popular. Many bigger priced items like electronics and cars will be included in Black Friday sales. Keep in mind before you buy, the Luxury Sales Tax and Credit Card fees that may end out taking away from your Black Friday sales.  Sometimes overlooked as a perishable item is fashion items like clothing and purses, as fashion retailers are often creating seasons in advance. While we are in winter weather, they are busing creating next falls looks. These enticing sales prices may help those items you thought were out of your budget- look much more budget friendly.  

Retailers will often pressure shoppers claiming that prices will not be this low again. Smart shoppers will see through that and know that not only will Black Friday sales prices often last the entire week, but that Cyber Monday is right around the corner with more “online exclusive” sales prices and Amazon Prime days are popping up more frequently. 

While the hecticness of Black Friday doesn’t hit Canadians the same way as it seems to in other parts of Nort America, we are just as excited to save money this holiday season. We may be shopping for the moved ones on our list or for ourselves but the sentiment is the same. By keeping an eye on the sales, doing our own research and not extending our budgets we can ensure our wallets remain happy long past the holiday season. 

Holiday shopping can be stressful for anyone, and even more so if you are struggling with debt. It is important to avoid accumulating additional debt this holiday season and stay within your financial ability. If you find yourself struggling, gift yourself a bright financial future by reaching out today for a free, confidential, no obligation consultation. Bromwich+Smith’s Debt Relief Specialists are available by phone at  1.855.884.9243, Live Chat   or you can request a call back at contact us page. We want to see you flourish!