Why Black Friday Deals Aren't Really Bargains

Deja vu all over again, as someone once said.

One (additional) benefit of the web and of all the information it provides is that consumers are learning a lot more about the nature of the ostensible bargains being shepherded their way. And it turns out that some of those deals have a familiar ring: because they are for the same products offered last year that didnt sell.

Or that sold so well the retailer thought they'd just try it again.

Either way it reinforces the suspicion that people only have so much money, especially in a still uneven economy. It also suggests that retailers are increasingly desperate as they attempt to counter the impact of the web. But that they are becoming less rather than more creative. And even for those consumers who are feeling flush, there are only so many 60 inch TVs and tablet computers anyone needs in any given year. Or two. JL

Jillian Eugenios reports in CNN/Money:

A whopping 93% of stores surveyed are offering customers year-old products for the same "discount" that was offered last year,
If you're experiencing déjà vu this Black Friday, there's a reason: Retailers are repeating products and prices from last year.
A whopping 93% of stores surveyed are offering customers year-old products for the same "discount" that was offered last year, according to a recent study from NerdWallet. While that may not be a huge issue for things like furniture and cookware, it does matter when it comes to tech and electronics that can be outdated or of poorer quality.

"It's probably not worth waking up very early for," said Matthew Ong, an analyst at NerdWallet.

It's not just the repeats that customers should be watching out for. Ong said that major retailers, like Walmart (WMT) and Target, (TGT) have special products, like TVs or other electronics, manufactured especially for Black Friday. The prices are great, but the items are of lower quality.
"If you're fine buying a TV that won't last until next year's Black Friday, I guess that's ok," Ong said.
The study analyzed 27 Black Friday advertisements, and found that 25 retailers listed at least one product for the same price in 2014 as in 2013. Office Depot (ODP), for example, offered the same wireless laser printer this year and last year, at the same $349.97 price point. Target, Walgreens (WAG) and PetSmart (PETM) also made the list of repeat offenders, along with many others.
The study also found that Black Friday discounts are offered at the exact same price at other times throughout the year.


So how do you land the best Black Friday deals?
The way to be smart about shopping, Ong said, is to do the homework -- research deals and be strategic before the day arrives.
He said that good deals or specials can be found on Twitter or Facebook, as retailers push for engagement and try to be a shopper's first choice for Black Friday deal hunting.
"Stores are going to be crazy," Ong said. "Make sure you have self control, and plan ahead to make sure you don't overspend."