With 28% of American consumers planning to spend less during the 2023 holiday season relative to 2022, the personal-finance website WalletHub today released its report on 2023’s Best Things to Buy on Black Friday. WalletHub determined that 35% of items offer no savings compared with their pre-Black Friday prices.
| Top 3 Product Categories | Worst 3 Product Categories |
| 1. Consumer Packaged Goods (35%) | 7. Computers & Phones (22%) |
| 2. Apparel & Accessories (32%) | 8. Consumer Electronics (21%) |
| 3. Appliances (28%) | 9. Furniture (11%) |
Top 10 Deals
- Osaki OS-4D Pro Maestro Massage Chair ($3,999 discount)
- Micheal Aram Butterfly Ginkgo Vase ($433 discount)
- Sperry® Intrepid Boat Shoes ($105 discount)
- Hasee Z8 15.6'' Gaming Laptop ($650 discount)
- Inspiron 27 All-in-One Desktop ($329 discount)
- Insignia™21 Cu. Ft. Upright Freezer ($450 discount)
- Steve Silver Yorktown II Dining Set ($204 discount)
- Night Owl 6 Camera Wireless Security System ($180 discount)
- Clinique Moisture Surge™ 100H Hydrator ($88 discount)
- LG 70" 4K UHD Smart LED TV ($217 discount)
“WalletHub found that around 35% of Black Friday items offer no real savings for consumers compared to their usual prices, but the items that are on sale are an average of 27% off, with the highest markdown at 91.42%”.
- Cassandra Happe, WalletHub Analyst
Best Black Friday Items in 2023
Black Friday is one of the biggest shopping occasions of the year, with over 100 million Americans shopping in person or online each year. Shoppers can save hundreds or thousands of dollars on Black Friday if they know where to look, but not all items are actually being offered for less than usual.
A new report by WalletHub compared the pre-Black Friday price against the actual Black Friday price of a broad selection of items, to find the offers that are truly worth the hassle of partaking in the year’s biggest shopping craze. “WalletHub found that around 35% of Black Friday items offer no real savings for consumers compared to their usual prices, but the items that are on sale are an average of 27% off, with the highest markdown at 91.42%,” said Cassandra Happe, WalletHub analyst.
Surprisingly, the best types of items to shop for on Black Friday are consumer packaged goods, such as cosmetics, food, toiletries and more. “Consumer packaged goods will be an average of 35% off on Black Friday, making it the product category with the most savings,” said Happe. “You’ll save the second-most money on Black Friday when buying apparel and accessories, getting an average of 32% off. If you’re looking to save money on big-ticket items, too, appliances are discounted by an average of 28%.”
Best and Worst Black Friday Product Categories
| Top 3 Product Categories | Worst 3 Product Categories |
| 1. Consumer Packaged Goods (35%) | 7. Computers & Phones (22%) |
| 2. Apparel & Accessories (32%) | 8. Consumer Electronics (21%) |
| 3. Appliances (28%) | 9. Furniture (11%) |
You may be surprised by the worst categories for Black Friday deals. Although computers, phones and other consumer electronics are very popular items for consumers to grab on Black Friday, these items are only discounted by around 20% on average. Still, that’s a steal compared to furniture. “Furniture is by far the worst category of item to shop for on Black Friday. You’ll only get an average of 11% off furniture purchases, which isn’t particularly impressive compared to other big times of the year for furniture sales, such as Labor Day,” said Happe.
Knowing what the best Black Friday deals are and where to find them ahead of time can help take the stress out of this major shopping holiday. That way, you won’t simply get enticed by the first discount you see and you’ll be able to set a budget on items in advance.
Black Friday Shopping Tips
- Research the prices of items ahead of time. This will allow you to compare how much the same items are sold for at different retailers and find the best price. Stores put out Black Friday ads well before the holiday, so you have plenty of time to get prepared.
- Don’t get tricked by the discount amount. When researching Black Friday deals, focus on how much you'll actually be able to save by purchasing an item on the holiday compared to the rest of the year. Simply looking at the advertised percentage discount or dollar savings can be misleading, as the retail price can be inflated to make the discount look better. Therefore, comparing the dollar price on Black Friday compared to other times of the year is more revealing. Keep in mind that 35% of Black Friday items offer no savings for consumers.
- Set a budget. Once you know how much the items you want will cost, set a budget and stick to it. It can be very tempting to spend beyond your means on Black Friday, but the point is to save money on things you can afford, not put yourself in debt.
- Shop early. The best Black Friday deals won’t necessarily last all day. Make your purchases early to avoid being disappointed by sold-out items. The good news is that you can often snag your deals online from the comfort of your home.
- Use a rewards credit card. Store discounts aren’t the only way to save on Black Friday. If you put your purchases on a rewards credit card, you can get another 1% to 5%+ back - or more if you use your shopping as an opportunity to earn an initial bonus.
- Avoid financing purchases on a store credit card. More than 8 in 10 store credit cards that offer a 0% financing promotion have a feature called “deferred interest.” If you don’t pay your balance in full by the end of the promotional period, you retroactively owe all the interest you would have paid from the date of the purchase, as if the regular APR were there from the start. That's especially dangerous this year, considering the average store credit card APR is nearly 30%. It’s better to use a normal 0% APR credit card instead.
For the full report, please visit: https://wallethub.com/
And for the latest Black Friday deals (updated daily), please visit: https://wallethub.com/edu/
No comments:
Post a Comment