With 28% of American consumers planning to spend less during the 2022 holiday season relative to 2021, the personal-finance website WalletHub today released its report on 2022’s Best Things to Buy on Black Friday, along with expert commentary. WalletHub determined that 27% of items offer no savings compared with their pre-Black Friday prices.
To find out whether shoppers are really getting the best deals, WalletHub compared the “Pre-Black Friday Price” against the actual Black Friday price of a broad selection of items. In doing so, WalletHub identified the offers that are truly worth the hassle of partaking in the year’s biggest shopping craze.
Top 10 Deals (Additional Discount for Waiting Until Black Friday)
| 1. Osaki TITAN Pro 8500 Massage Chair ($1,156) | 6. Trinity 6-Pc. Garage Storage System ($500) |
| 2. LG gram 17" Evo Laptop ($316) | 7. Therabody RecoveryAir Compression System ($399) |
| 3. Beautyrest 12" King Size Mattress ($399) | 8. Samsung 28.2 cu. Ft. 3-Door Refrigerator ($351) |
| 4. Yeyian Gaming Desktop Kunai X21 ($300) | 9. Pit Boss Navigator 850 Wood Pellet Grill ($409) |
| 5. Lenovo ThinkStation P340 ($478) | 10. SanDisk Portable 2TB External USB-C SSD ($310) |
| Top 3 Product Categories | Worst 3 Product Categories |
| 1. Consumer Packaged Goods (34%) | 7. All Other Product Categories (26%) |
| 2. Appliances (30%) | 8. Toys (26%) |
| 3. Furniture (29%) | 9. Computers & Phones (22%) |
For the full report, please visit: https://wallethub.com/
And for the latest Black Friday deals (updated daily), please visit: https://wallethub.com/edu/
What types of products are better to buy on Black Friday versus other times of the year?
“Black Friday is a time to purchase big ticket items you have been dreaming about all year that are deeply discounted (at 50% or more). Traditionally, electronics, computers, appliances, clothing, toys, and home furnishings are good buys. Purchases for yourself, friends, and family members are often kept in mind. What is interesting is some stores are starting Black Friday early with deeply discounted items hoping to entice consumers early.”
Julia Cronin-Gilmore, Ph.D. – Director, Doctorate of Business Administration Program, Bellevue University
“Electronics are always discounted, and one can get excellent deals if one shops around. This includes items such as televisions, computers, robotic vacuum cleaners, home security systems, smartphones, and smartwatches. This year consumers should also look for discounted membership subscription deals.”
Denise T. Ogden, Ph.D. – Professor, Penn State Lehigh Valley
Should most consumers ignore promotional deals where retailers provide deep discounts on a limited stock of an item? How can consumers judge if these doorbusters are worth the race to snag a deal?
“Consumers really need to consider if the benefit outweighs the cost. If it is a product for which they have high involvement and it is really a good deal, it may be worth it – but in many cases, it is not. Also keep in mind that many retailers now offer online doorbusters on Black Friday and Cyber Monday, wherein a promotion starts on a certain date and time, and the consumer must be available to shop for it then to have a chance at scoring the deal. While this often requires less physical effort than in-person shopping, the deals are not always as lucrative.”
Alexa K. Fox – Associate Professor, The University of Akron
“The key to avoiding ‘bait and switch’ types of promotions is to do your homework. Consumers should research the price and quality of items and make a rational decision about a purchase as opposed to just buying what seems to be a ‘steal’ but ultimately does not truly meet the needs of the buyer. Also, if a store is out of the specific product you seek, do not be afraid to walk away and look for the product somewhere else.”
Dorothy (Dotty) Harpool, MBA – Executive Director of Marketing, Enrollment and Communication; Senior Marketing Educator, Wichita State University
What is a good strategy in identifying the best deals on Black Friday?
“Make a list of the gifts you plan to buy then use price-checking websites or extensions to try to find the best deal. Stick to your list or you will overspend as you find other great deals!”
Denise T. Ogden, Ph.D. – Professor, Penn State Lehigh Valley
“Be smart and do a little research so you know if it is a good deal. If there is something you want, search early and find out what the product is selling for at a few stores then wait to see if the Black Friday price is good. You can google search stores or look at newspaper ads. Some stores have ongoing sales and you may be used to the percent off. If it moves from 30% off to 50%, it is a good day to make the purchase. Be careful because some sales are so good, they can cause you to make an impulse buy you cannot afford using a charge card. If you can afford it, it is a good deal.”
Julia Cronin-Gilmore, Ph.D. – Director, Doctorate of Business Administration Program, Bellevue University
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