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A12 BUSINESS
Wednesday 16 november 2022
Millennial Money: What makes a Black

Friday deal worth it?

By LAUREN SCHWAHN
of NerdWallet
Black Friday sales are ev-
erywhere. Judging by re-
tailers’ advertisements
stuffed with language like
“must-have deals” and
“can’t-miss epic finds,”
you’d be led to believe
that every deal is too good
to pass up.
But what actually makes
a Black Friday deal worth
pursuing? An item’s re-
duced price, availability
and affordability are key Black Friday shoppers wearing face masks shop at the Citadel
elements. Here’s what to Outlets in Commerce, Calif., Nov. 26, 2021.
consider before you buy. Associated Press
THE ITEM IS SELLING AT THE
BEST PRICE sale and it’s X percent I would say, definitely buy
Prices fluctuate throughout off or Y percent off,’ and early. The price advantage
the year, making it difficult there’s no context at all,” in buying later than buying
to recognize whether the Boyd says. earlier is going to be mini-
deal being offered is ac- Get familiar with prices mal at best.”
tually the best of the best. in the days leading up to Shopping early could be
Most people couldn’t say Black Friday, Nov. 25 this the right move even if the
exactly how much a par- year. ShopSavvy and other product you want signifi-
ticular air fryer sold for two shopping tools, like PayPal cantly drops in price after
weeks ago or two months Honey, can also alert you you buy. “Most stores will
ago, and whether that dif- to price drops for specific let you either return or give
fers from the price today. items and compare prices you credit if it goes on sale
“Things that you buy ev- across retailers so you can within a certain number of
ery week, you notice the find the best deals. days,” says Debra Radway,
price going up. Where if it’s IT’S IN STOCK a certified financial plan-
something you buy maybe Sometimes getting the ner and teaching associ-
once a year or not very gift on your list is more im- ate professor at the W.P.
often, like a pair of shoes, portant than getting the Carey School of Business at
you don’t know what price deepest discount. The 2021 Arizona State University.
is normal or what it was the holiday shopping season Explore retailers’ return, ex-
last time,” says Martin Block proved that deals aren’t change and price adjust-
, professor emeritus in Me- guaranteed to last: Wide- ment policies before you
dill’s integrated marketing spread supply chain snags shop so you know what to
communications program and surging demand re- expect.
at Northwestern University. sulted in inventory short- IT FITS YOUR BUDGET
What can you do to be- ages and shipping de- Most importantly, a Black
come a better judge? lays. Many experts believe Friday deal should fit into
Start tracking prices now, supply issues won’t be as your budget. A TV that’s in
says John Boyd , co-found- prevalent this year. How- stock and on sale for 99%
er of ShopSavvy, a price ever, popular items could off still isn’t worth buying if
comparison app. Using an still fly off shelves. “Certain the remaining 1% is out of
app to explore a product’s toys, for example consoles your price range.
price history can help you and certain games more As Bell simply puts it: “Buy
see through retailers’ mar- than likely, they’ll sell out what you can afford.”
keting tactics. “Sometimes quickly,” says G. Tony Bell Bell cautions against tak-
a good sale is really hard , an assistant professor in ing on new credit for Black
to detect because you’re the department of supply Friday purchases such as
just being bombarded with chain management at Rut- credit cards or installment
‘Oh, we’ve got this great gers Business School. “So loans known as buy now,
pay later plans because
of the potential interest
charges or impact on your
credit score if you’re un-
able to repay.
And that’s a real possibility:
According to a 2022 Holi-
day Shopping Report from
NerdWallet, 31% of holiday
shoppers who used a cred-
it card to buy gifts in 2021
are still carrying debt. q