Be Careful Of Black Friday Deals

November 26, 2014

Alright students, you may be tempted to either stay up all night this Thanksgiving Day or wake up at the crack of dawn the morning after to take part in hard-to-believe door buster Black Friday sales, but there are some things you should know first.

According to a new study out from NerdWallet, many of the so-called Black Friday Deals (93 percent, in fact) are the same items being sold at the same prices as last year.

NerdWallet analyzed 27 different Black Friday ads and found that the deals may not be as impressive as they seem.

Many of the retailers, the report concluded, are offering the same products at the same prices year after year.

When it comes to students who want to get great deals on technology products in particular, this could be a problem, because you may be getting older technology for the same price as previous years.

Office Depot for instance sold the Brother Digital Color Wireless Laser printer for $349.97 (down from the regular price of $449.97) as a Black Friday deal in 2013 and will offer it again this year.

Target offered the Apple TV for $89 in 2013 and will sell it for the same price again this year, and Walgreens offered a My Charge Portable Power Pack for $9.99 both years.

The report also found that some retailers inflate their prices for the biggest shopping day of the year. Sears for instance will be selling a Samsung 55-inch smart LED HDTV for $599.99 for Black Friday, saying that the television is marked down from the price of $1,199, however the same television was sold earlier in the year at the store for $807.49 for discount of around $200 rather than $600.

If you are a student trying to save money on technology and other products that will help you study or outfit your campus apartment or dorm, do your homework first.

Be sure to compare prices online before you waste your time and sleep shopping Black Friday deals. Price match by looking at other stores and seeing the prices they are offering for the products you want. And, always be careful when putting your purchases on credit or signing up for credit cards at stores that can come with high interest rates.

Photo credit: tshein