Two-thirds of Americans think Black Friday sales are nothing special compared to offers available throughout the rest of the year, according to a recent nationally representative WalletHub survey. Yet roughly 164 million Americans are at least thinking about doing some shopping from Thanksgiving through the weekend this year, according to the National Retail Federation. So there must be some savings to be had, right?
If history is any indication, Black Friday promotions will indeed provide plenty of savings opportunities. But you really need to know where to look and what to look for. For example, the 20 most discounted items on Black Friday in 2016 came from 19 different retailers, according to WalletHub research. Furthermore, appliances and furniture were discounted by an average of 18 percent and 15 percent, respectively, relative to the weeks before the shopping holiday. But jewelry, while sold at a significant “discount,” was less than 1 percent cheaper on Black Friday than before.
[See: 10 Money-Saving Websites to Check Before Shopping.]
In other words, Black Friday success requires a plan. Scouting out the what, where and how much ahead of time will help you buy what you need faster and at the lowest possible price while avoiding impulse purchases. And it will make the entire ordeal far less stressful.
“The rule of thumb should always be: Buy because you need the item, not because it is discounted or in limited quantities,” says Michal Herzenstein, associate professor of marketing at the University of Delaware. “Do your research and know what an item you want is priced at regularly, and then compare.”
You don’t even need to do your own homework. Here are the best overall Black Friday deals, based on WalletHub’s analysis of the offers.
HP Z240 Tower Workstation from HP
Savings: $1,234
58 percent off
Sony 70-inch Class LED 2160p Smart 4K Ultra HDTV (#KD70X690E) from Best Buy
Savings: $800
40 percent off
Sports Afield Safe (#SA6040) from Costco
Savings: $799
53 percent off
Canon EOS REBEL T6 DSLR Camera Zoom Kit from Kohl’s
Savings: $300
40 percent off
Disney Minnie Mouse Hot Rod Coupe 12-Volt Ride On from Toys ‘R Us
Savings: $262
57 percent off
Vitamix A3500 Blender (#062944) from Macy’s
Savings: $250
42 percent off
Citizen Eco-Drive Men’s Stainless Steel Watch (#BU2021-51L) from JCPenney
Savings: $190
40 percent off
Dyson DC59 Animal Cordless Vacuum Cleaner (#64961-01) from Walmart
Savings: $176
48 percent off
Linksys EA8300 Tri-Band Router from Meijer
Savings: $100
50 percent off
Resident Evil 7: Biohazard PlayStation 4 from Target
Savings: $45
75 percent off
Best shopping categories. Retailers are advertising the biggest markdowns on jewelry, entertainment and clothing. Toys, appliances and electronics are among the least-discounted items.
| Purchase Category | Average Discount |
| Jewelry | 59 percent |
| Books, movies and music | 57 percent |
| Apparel and accessories | 48 percent |
| Furniture | 42 percent |
| Video games (software only) | 42 percent |
| All other product categories | 41 percent |
| Consumer packaged goods | 40 percent |
| Toys | 39 percent |
| Appliances | 36 percent |
| Consumer electronics | 36 percent |
| Computers and phones | 34 percent |
How to save money on Black Friday. “It is essential to set a budget beforehand,” says Jose Mendoza, director of the master’s degree program in digital marketing at Sacred Heart University. “Black Friday is just the start of the holiday shopping.” The average American’s ideal holiday budget is $680, according to WalletHub’s analysis of spending, income and debt data.
[See: 12 Habits of Phenomenally Frugal Families.]
How to skip the checkout lines. Online Black Friday spending is expected to outpace in-store purchases for the first time this year, according to a survey from Deloitte. And it makes sense. Many stores want to encourage use of their e-commerce channel to compete with Amazon and avoid Black Friday overcrowding. So you can stay warm, cozy and bruise-free while breezing through your shopping without sacrificing savings.
[See: 9 Ways to Save When Holiday Shopping With Credit Cards.]
How you pay matters. How you pay for Black Friday purchases matters, too. In particular, consider applying for your favorite retailer’s store credit card. Many store cards offer a discount of 10 percent or more on the first purchase that you make the day you’re approved for an account. And nearly all require just fair credit for approval.
If you plan to use a credit card, you should also strive to pay off your balance as soon as possible to prevent high interest rates from eating away at your savings. This is important because the average household already has roughly $8,000 in credit card debt, and 1 in 7 people expect their holiday balances to hang around past Valentine’s Day.
More from U.S. News
Do’s and Don’ts of Shopping for Skin Care Products
10 Tips for a Budget-Friendly Cyber Monday
Prepare Your Finances for the Holidays
The Best Products to Buy on Black Friday 2017 originally appeared on usnews.com
