Black Friday Shopping Strategy
2. Draft a Focus List.
Any tenured Black Friday shopper will agree camping out at a store with hundreds of other discount-hungry consumers without a shopping list is a suicide attempt. In fact, a common misconception is that the enormity of deals available on Black Friday means shoppers are bound find savings, no matter what they pick up along the way.
BFAds.net founder Michael Brim explains how this assumption can cost consumers more money than they realize. "Many of the items contained in the Black Friday ads are great deals, and the most sought after items are usually sold at a [loss leader]," says Brim. "However, to make up for the loss-leaders, retailers have to sell other products at higher-than-normal markups. What that means to the shopper is that non-advertised-and even some advertised products-are sold at not-so-competitive price points compared to the weeks surrounding Black Friday.
"If one 'strikes out' on Black Friday," continues Brim, "they should try their best not to buy whatever is in arm's reach just 'to get something.' Chances are that something is not discounted and will be cheaper later on in the holiday season."