While the lights may be twinkling and the sleigh bells jingling, the gift list is growing. Overspending around the holidays is common, and it can add to the stress of what may already be a challenging time of year. Black Friday adds a sense of urgency to find the best deals, especially with big box stores like Costco and Walmart. But are these deals really as good as they seem?
Costco is a haven for all kinds of wonderful items, but it can also lead to purchasing things your family doesn’t need or won’t use. A 12-pack of Kombucha seemed like a good idea at the time, but six months later, it’s still sitting in the fridge. And no one needs that much cantaloupe, ever. But what about Black Friday bargains?
"Costco can be a double-edged sword during Black Friday," says Clay Cary, savings expert at Coupon Follow. "You’ll find deep discounts on bulk essentials and holiday items, but it’s easy to overspend on non-essentials."
Erika Kullberg, an attorney, personal finance expert, and founder of Erika.com, suggests that parents go into stores like Costco with a clear plan to avoid overspending. She recommends sticking to essentials you know your family will use throughout the year and shopping for items where the discounts make a big impact, such as kitchen appliances, electronics, and children’s outerwear.
Sound familiar? This doesn’t mean you should avoid browsing, but this time of year especially can bring an added fever to the shopping experience. Plus, your growing to-do list can burn you out, so you may find yourself in a big store you’re sick of being in and, therefore, might make hasty decisions in the moment.
"Try to avoid impulse buys," Kulberg cautions. "Many people will go in expecting to save but end up spending more on items they don’t truly need, and making that kind of level-headed call while you’re in a bustling store can be next to impossible. To stay on track, create a list of items you genuinely need and stick to it."
Buyer beware
Consumer and money-saving expert Andrea Woroch cautions shoppers to do their homework. "Low prices on poorly-made products are far from a good deal! Some doorbusters are made of inferior quality and missing key components in order to keep prices low, so you could be duped into a bad deal. For instance, an off-brand TV may not hold up as well and may need replacing within a year or two," Woroch explains. She encourages buyers to do the research on models and then assess the quality in person.
So, how do you ensure you’re getting the best deal?
"One underutilized strategy is leveraging Costco’s generous return policy for Black Friday shopping," suggests Cary. "Do the same for big-ticket items like electronics or appliances; if another retailer has a better deal later in the season, no sweat: return and repurchase at the better price." Cary also recommends checking out Costco’s pre-Black Friday membership promotions. "If you aren’t already a member, these often include a shop card or other perks that make the membership itself a bargain."
Woroch adds that consumers should watch out for hidden restocking fees with returns, especially on electronics, appliances, and furniture.
Let’s talk toys
Parents shopping in big box stores around the holidays usually have a common focus: toys. The good news? Black Friday can bring big discounts on known brands like Mattel and Fisher-Price. In response to the big box discounts, smaller businesses specializing in kids’ gear and independent toy companies often offer enticements of their own, both online and in stores.
Aaliyah Kissick is a Gen Z financial literacy advocate for a financial education company, Financial Literacy Diaries. She points out that Black Friday can bring significant savings on items like clothing and toys but also may be worth more considerable investment gifts, such as electronics. "By price comparison, coupon clipping, and waiting for Black Friday sales, you can get the best deals on the things your littles will use for a short period of time," Kissick explains. "For items like tablets, laptops, and furniture, you should definitely splurge — the tablet you get your little one to teach shapes may become the tablet they use to complete geometry assignments in high school or beyond." She also suggests using Costco if you plan to host, not just for food or drinks but for party supplies, including napkins, paper plates, and utensils.
In general, the best deals on toys come from big box stores like Walmart, Target, and even Costco, often in response to online retailers like Amazon slashing prices. Because Amazon lacks physical locations, it’s the one advantage a place like Walmart has. They can offer dramatic in-person-only deals that bring customers into the store.
In the end, it really depends on your tolerance for lines and other people. Saving $10 may not be worth the trip in gas and mental strain, but saving $100 probably is. If you do decide to show up in store, parents, take heed. Stay hydrated and caffeinated, wear comfortable shoes, and don’t bring the kids unless you have to.
Disclaimer: This story has not been edited by us and is published as shown on Scary Mommy.
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