How to Get the Most Out of Black Friday

Compared to Black Monday (1987's stock market crash), Black Tuesday (the day after the Great Depression when stock markets tumbled more) and Black Thursday (the start of the Great Depression), Black Friday is by far the cheeriest Friday of the lot.

Falling on the day after U.S. Thanksgiving, Black Friday marks the official start of the holiday shopping season, making it a bargain hunter's delight. In Canada, Ontario and Alberta are home to the most enthusiastic Black Friday shoppers, while Quebec is home to the least. Of course, things could look different in 2021. According to the National Retail Federation, people are getting a bigger head start on holiday shopping than usual and nearly two-thirds of Black Friday shoppers report they're likely to shop in-store – up from roughly half last year, when COVID-19 worries kept many people home.

In addition to creating a budget and sticking to it, here are five sure ways to make the most of your Black Friday splurge.

Dawn Raider

Many retailers reserve their best deals for first thing on Black Friday. For online shoppers, 12:01 a.m. marks the launch of promotions and the start of digital shopping. Sales and pricing updates are posted throughout the day, so it pays to track your favourite retailers' social feeds for instant updates. You can do this by signing up to receive company e-newsletters and texts, and by following them on social media. You can also check multiple sales flyers online with price comparison apps like Flipp. 

Deal Me In

In the midst of shopping frenzy, it can be difficult to judge what's a deal and what isn't. Doing your homework is essential so you have an understanding of what the regular retail prices are for the items you want. Most people assume that the best deals of the year happen on Black Friday, but according to a Colliers Canada report, half of the products they surveyed were discounted similarly on both Boxing Day and Black Friday, with 36 per cent more heavily discounted on Boxing Day.

The average price reduction on Black Friday is around 24 per cent, according to e-commerce company Shopify. And the best deals can be found in electronics, sporting goods, appliances, video games and apparel. Just think, a 24 per cent discount on a 65-inch television that normally retails for around $2,300 could save you more than $500, plus you'll pay less tax since it will be calculated on a smaller amount.

Hack Your Way to More Bargains

A day or so before Black Friday, fill your online shopping cart with the items you're interested in but don't trigger the purchase. Either leave the merchandise in the cart or clear it. This could prompt the company to send you an online coupon on Black Friday to consummate the intended sale.

Retail algorithms may discriminate based on your postal code or even whether you use a Mac or a PC. To start with a clean slate, erase all cookies from your laptop, try a different search engine than usual, or shop from your phone from different parts of town to see what happens.

Before hitting the online checkout, consider using any Live Chat option to (very politely) request extras like free shipping, expedited shipping or a discount code.

Pitfalls to Avoid

If you're planning to shop on U.S or international sites, keep in mind the currency exchange. What looks like a bargain online may turn out to be pricier once you factor in the exchange rate, shipping and customs duties.

Don't forget to also read the fine print regarding the store's return policies and warranties.

Where possible, consider using a credit card to make returns and conflict resolution easier. Most credit cards come with some purchase security coverage; it can be worth checking on your specifics so you know what's covered.

Discounts on Discounts

When you shop using reward cards, you can often receive cash back, points or other benefits such as free apparel alterations on top of the retailer's promotion. Since gift cards tend to be the most popular gift to receive (home improvement products are the least), when you purchase a gift card you can often collect bonus points or rewards in other programs you may be enrolled in.

**This article was updated in November 2021.