While the lights flicker and the sleigh bells jingle, the list of gifts keeps growing. Overspending is common during the holidays, which can add to the stress of an already challenging time of year. Black Friday adds a sense of urgency to finding the best deals, especially at 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 great stuff, but it can also lead to you buying things your family doesn’t need or won’t use. The 12-pack of kombucha seemed like a good idea at the time, but six months later, it’s still sitting in the refrigerator. No one ever needed so much cantaloupe. But what about the Black Friday specials?
“Costco can be a double-edged sword during Black Friday,” says Clay Cary, savings expert at Coupon Follow. “You’ll find great discounts on bulk staples and holiday items, but it’s easy to overspend on non-essential items.”
Erika Kullberg, attorney, personal finance expert and founder of Erika.com, advises parents to have a clear plan when heading to stores like Costco to avoid overspending. She recommends sticking to essentials you know your family will use year-round, and stocking up on heavily discounted items like kitchen appliances, electronics and children’s outerwear.
Sound familiar? That doesn’t mean you should avoid browsing, but this time of year especially brings an extra zest to the shopping experience. Plus, your ever-growing to-do list can be exhausting, so you might find yourself in a big store that you’re tired of and might make hasty decisions right away.
“Try to avoid impulse purchases,” Kuhlberg warns. “Many people will expect to save money, but end up spending more on items they don’t really need, and making that kind of dispassionate decision when you’re in a bustling store is nearly impossible.” Make a list of items you really need and stick to them.
Buyer beware
Consumer and money-saving expert Andrea Woroch reminds shoppers to do their homework. “Low prices on inferior products are not a good deal! Some door locks are made from inferior materials to keep the price down and are missing key components, so you could be scammed into a bad deal. For example, an off-brand TV may not work properly , may need to be replaced within a year or two,” Woroch explained. She encourages buyers to research the models and evaluate the quality for themselves.
So, how do you make sure you’re getting the best deal?
“An underutilized strategy is to take advantage of Costco’s generous return policy for Black Friday purchases,” Cary suggests. “Do the same with big-ticket items like electronics or appliances; if another retailer has a better deal later in the season, don’t worry: Return and repurchase at a better price.” Cary also advises Check out Costco’s pre-Black Friday membership deals. “If you’re not already a member, these often include a store card or other benefits, making the membership itself cheap.”
Woroch added that consumers should be aware of hidden restocking fees when returning items, especially electronics, appliances and furniture.
let’s talk about toys
Parents who shop at big-box stores around the holidays often have one focus in common: toys. Good news? Black Friday can bring big discounts on well-known brands like Mattel and Fisher-Price. In response to deep discounts, small businesses and independent toy companies specializing in children’s products often offer their own temptations online and in stores.
Aaliyah Kissick is a Gen Z financial literacy advocate at Financial Literacy Diaries, a financial education company. She noted that Black Friday can lead to significant savings on items like clothing and toys, but can also lead to more valuable investment gifts, such as electronics. “By comparing prices, coupon clipping, and waiting for Black Friday sales, you can get the best prices on items your kids will use in the short term,” Kissick explains. “You should definitely splurge on items like tablets, laptops, and furniture—the tablet you teach your kids about shapes may become the tablet they use to complete their geometry homework in high school or beyond,” she also suggests. , if you are planning to host a party and want to buy not only food or drinks but also party supplies including napkins, paper plates and cutlery, use Costco.
Generally, the best deals on toys come from big box stores like Walmart, Target, and even Costco, often in response to deep price cuts from online retailers like Amazon. Since Amazon lacks physical locations, this is one of the advantages that places like Walmart have. They can offer dramatic face-to-face offers to lure customers into the store.
At the end of the day, it really comes down to your tolerance for lines and other people. Saving $10 may not be worth it because of gas and mental stress, but saving $100 may be worth it. Parents please take note if you decide to go to the store. Stay hydrated and caffeinated, wear comfortable shoes, and don’t bring your kids unless necessary.
