5 Myths About Black Friday, Busted
Here’s what you really need to know about this big shopping day the Friday after Thanksgiving.
Most people assume the term "Black Friday" refers to retailers moving out of the red and into the black — that is, turning a profit for the year as shoppers flock to stores to do their holiday shopping on the day after Thanksgiving.
But, according to several accounts, the expression actually originated in the 1960s when Philadelphia police officers used it to describe heavy vehicle and pedestrian traffic the day after Thanksgiving. You just learned something new, right?
Well, that’s not the only misconception about Black Friday.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Here are five myths you should be aware of — especially if you plan to be a part of the heavy traffic in the stores the day after Thanksgiving:
MYTH 1: Black Friday starts on Friday
Many major retailers start rolling out discounts and deals well ahead of Black Friday. For example, Amazon launched Amazon Prime Deal Days, the retailers pre-Black Friday sale, weeks before Thanksgiving. So don’t assume that you should wait until the last minute to score a bargain.
"Where Black Friday used to be the kickoff to the holiday shopping season, it’s now close to the finish line for many consumers who’ve started taking advantage of deals earlier in the season,” says smart shopping expert Trae Bodge of TrueTrae.com.
MYTH 2: Everything is on sale
Just because retailers have big sales doesn’t mean everything in their stores or on their sites is on sale. Yes, you’ll find everything from computers, tablets, cookware, video game consoles and televisions marked down. But that purse your wife wants, golf club set your husband wants or video game your son wants might not even be discounted.
For this reason, before shopping, check retailers’ Black Friday ads at sites such as DealNews.com to see what items will be on sale. We've listed both Walmart Black Friday deals and Costco Black Friday deals for you to easily shop as well.
MYTH 3: The deals are the best of the year
Don’t be fooled into thinking that all of the items that are on sale on or around Black Friday are at their lowest prices of the year. Many of the discounted Black Friday prices are also available during other sales throughout the year.
And often, Black Friday retailers will try to trick you by inflating discounts on items, even though these items occasionally sell below MSRP throughout the year, suggests Courtney Jespersen, NerdWallet.com’s consumer savings expert.
MYTH 4: Doorbuster deals are available only in stores
Black Friday (and now Thanksgiving) is synonymous with doorbusters — deeply discounted items that are in limited supply and available only at certain times, used as a means to lure shoppers out to the stores.
However, many retailers are beginning to prioritize online shopping, especially after shopping habits during the pandemic. In fact, many retailers offer online-only deals, and Amazon.com often matches the best offers at brick-and-mortar stores. So before you head out the door, check to see if the deals you want are available online.
MYTH 5: It will be easy to take advantage of price-match policies
Maybe your plan is to head to one store on Black Friday, use an app to scan product barcodes, see if another retailer is offering those items at lower prices, then take advantage of the price-match policy of the store you’re in to get those items there for even lower prices. It’s brilliant, right?
Not so fast. Several major retailers, including Walmart and Costco will not match competitors’ prices on items for sale on Black Friday and through the following Monday. Call retailers or look up their price-match policies on their websites before you shop.
Related Content
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.
Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.
- Erin BendigPersonal Finance Writer
-
GM Stock Accelerates After Earnings Beat
General Motors beat expectations for the first quarter and raised its outlook for the year. Here's what you need to know.
By Joey Solitro Published
-
Georgia Has a New Income Tax Rate for 2024
Tax Cuts Georgians now have a tax package containing income tax cuts, childcare relief, and potential property tax caps.
By Kelley R. Taylor Published
-
Five Reasons You Shouldn't Shop on Amazon Prime Day
Smart Buying Think twice before getting lured into buying a bunch of stuff you don't need just because it's on sale.
By Andrea Browne Taylor Published
-
5 Ways to Save Money on Vacation Rental Properties
Travel Use these strategies to pay less for an apartment, condo or house when you travel.
By Cameron Huddleston Published
-
10 Annoying Hotel Fees and How to Avoid Them
Travel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
By Cameron Huddleston Last updated
-
Best Cash Back Credit Cards April 2024
Smart Buying Trying to compare the best cash back credit cards? Unlike most reviewers, we include cards from small banks and credit unions, as well as from large issuers.
By Ellen Kennedy Last updated
-
How to Spend $1,000: Find Cheap (or Free) Online Courses to Build Career Skills
Smart Buying There's a huge array of skill-building online courses that can level up your career for under $1,000.
By Kim Clark Published
-
MoviePass is Relaunching. Should You Sign Up?
Smart Buying The subscription discount movie card company has a checkered past and an army of disillusioned former cardholders. If you want to try the reboot, you’ll need to hurry.
By Bob Niedt Published
-
HBO Max Is Offering Huge Discounts
Smart Buying Looking for a streaming service deal? Warner Bros. Discovery is cutting the price of HBO Max.
By Bob Niedt Published
-
Are You Streaming Too Much? What the Discovery+/HBO Max Mashup Means
Smart Buying Fewer original scripted series? Maybe. And maybe it’s time to unsubscribe.
By Bob Niedt Published