The below is an excerpt from an old guide I gave my staff at some of the larger publications I’ve worked for.
The most common question I ever got running these teams was “How much am I actually saving shopping on Black Friday?”
For the first time ever- here’s the slightly edited answer for consumers:
The Basics of Black Friday Savings
- The Novice Shopper: You’ll save about 20-25% off the Manufacturer’s Suggested Retail Price (MSRP). This is like going into battle with a plastic sword—better than nothing, but you won’t be winning any medals.
- The Seasoned Shopper: With some research and tools, like price trackers or deal forums, you can aim for 30-35% off MSRP. You’re like a knight with slightly better armor; you’ve got a chance, but you’re not unbeatable.
- The Master of Deals: Here’s where the real savings kick in, at 40% or more off MSRP. You’ve got the strategy, the foresight, and perhaps, a network of informants whispering deals into your ear. You’re not just shopping; you’re executing a plan.
But Wait, There’s More Complexity
Saving isn’t just about the percentage off. Here’s where it gets ‘interesting’:
- The Rare Find: If an item is usually full price and suddenly goes 10-15% off on Black Friday, congratulations, you’ve just stumbled upon the retail equivalent of discovering a new planet. That’s a deal worth orbiting around.
- The Perpetual Sale: Beware of items that are always on sale at 40% off. If they’re still at 40% during Black Friday, you’re not getting a deal; you’re just maintaining the status quo. It’s like thinking you’ve won a race only to realize everyone else was just taking a leisurely walk.
Strategic Deal Hunting
- Variance is Key: Aim for items that rarely see discounts. These are the treasures of Black Friday. If something usually doesn’t budge on price, even a small discount is like finding a five-star restaurant in space that doesn’t charge you for oxygen.
- When in Doubt, Follow The One Black Friday Tip: Last Years’ Models