41% of Black Friday savings offer no savings, personal finance website says
November 22, 2024
With 31 percent of American consumers planning to spend less during the 2024 holiday season compared to 2023, WalletHub, a personal-finance website, released a report Wednesday on the “Best Things to Buy on Black Friday in 2024.” WalletHub found that 41 percent of items offer no savings compared with their pre-Black Friday prices
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Top 3 Product Categories |
Worst 3 Product Categories |
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1. Jewelry (37%) |
7. Toys (23%) |
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2. Apparel & Accessories (31%) |
8. Consumer Electronics (20%) |
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3. Consumer Packaged Goods (28%) |
9. Computer & Phones (19%) |
Top 10 deals
- EcoFlow Delta Pro 3 Power Backup System ($3,057 discount)
- NewAge Products Bold Series 10 Pc. Cabinet Set ($600 discount)
- Disney Enchanted Vault Swiss Blue Topaz & Diamond Earrings ($162 discount)
- Sony - 75" Class BRAVIA 3 Smart TV ($228 discount)
- Portable Basketball Hoop & Goal System ($190 discount)
- iBUYPOWER Y60 Gaming Desktop ($500 discount)
- Michael Kors Medium Duffel Satchel ($149 discount)
- Alienware m16 R2 Gaming Laptop ($330 discount)
- Roborock QX Revo Vacuum and Mop Robot ($420 discount)
- Real Relax® 2024 Massage Chair Favor 08 ($300 discount)
“WalletHub found that around 41% of Black Friday items offer no real savings for consumers compared to their usual prices, but the items that are on sale are an average of 24% off, with the highest markdown at 89%,” said Chip Lupo, WalletHub analyst.
As for specifics on what to look for, Matthew A. Gilbert, lecturer of marketing at Coastal Carolina University, says “It’s better to buy electronics, home appliances, and smart home devices on Black Friday (or Cyber Monday) than at other times of the year. You might also find good deals on beauty and fashion products. Generally speaking, retailers will have promotions for most products to increase sales.”
It’s important to remember that Black Friday shopping is best for items you’ve planned to buy. It you run across what you think is a terrific bargain, you may be badly disappointed.
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