A Black Friday playbook

The traditional kick-off to the holiday shopping season begins with the annual Black Friday shoppers’ scrimmage. Smart shoppers don’t go onto the field without a game plan, however. Your Better Business Bureau has studied the stats, reviewed the film, and come up with some strategies to get you safely into the end zone.

Shopping wisely

The best way to insure that you get the most from your Black Friday shopping experience is by staying informed. Learn about how retailers price items and which items are genuine bargains. Eye-catching price “slashes” are sometimes not what they appear to be. Here is some information to help you assess those “door-busting” deals:

▪  Some retailers no longer wait until Black Friday to offer their special prices, preferring earlier November sales. Check ads in print, online and in stores’ emails if you have signed up to receive them.

▪  Research products. The lowest-priced item may not be as good a deal as a more expensive one if the quality is lacking.

▪  A Black Friday sale price may not be as low as the item’s price near the year’s end. Sometimes prices keep dropping beyond the big sale day.

▪  Watch for discounts that aren’t as great as they sound. Some retailers inflate the original price to make the discount sound better. Remember: The Manufacturer’s Suggested Retail Price is almost never the price a store charges, so a 20% reduction in that price isn’t as good as it sounds.

▪  Read the terms and conditions in advertisements. Quantities may be limited to a small number and sale prices may only apply to certain hours, making it necessary for you to get into a lineup outside the store – not everyone’s idea of a good time.

▪  It’s a boring chore but take the time to research and thoroughly read a retailer’s return policy. What if you don’t like the item once you get it home? What if you see it at a lower price after the sale? What if it doesn’t perform the way you need it to? Do you get money back or store credit? Ask about anything that isn’t clearly explained in the fine print.

▪  Read online reviews of products you are interested in, but watch out. Only a few glowing reviews may mean they were paid for or planted. Generally, the more reviews the better.

▪  Read the BBB’s business reviews at bbb.org. You can see how others had experiences with them and how the business responded to complaints.

▪  Always get gift receipts when buying presents, and give them to the gift’s recipient.

▪  When you have the option, pay with a credit card. Future disputes can go more smoothly and cost you less.

Keep your budget “in the black”

One of the reasons the day is called “Black Friday” is because it’s the day when retailers hope increased sales will put their business “in the black,” financially speaking. But if you go “into the red” by spending more than you can afford, then the day becomes “red Friday.” It’s vital that you look at your budget and decide how much you can spend at the sales. When doing so, remember to:

▪  Review your income and your expenses, including all regular payments and living costs.

▪  List expected holiday expenses including travel, entertainment and gifts. Don’t forget charitable contributions.

▪  With the above calculations, estimate how much you can spend on Black Friday. Not enough left over? Look for areas where you can cut back to make up for what you want to spend.

▪  Most importantly (and perhaps most difficult to do): Stick to the numbers you arrived at.

This story was originally published November 17, 2017 at 11:18 AM with the headline "A Black Friday playbook."