Holiday Deals May Not Be The Best Prices
DENVER (Colo) Shoppers across the country line up for Black Friday deals, but research shows that many of those deals are not the best prices.
“I think there’s a misperception in the market place, and I don’t think retailers are doing anything to clear that up,” said Darrin Duber-Smith, a marketing professor at Metropolitan State University.
Duber-Smith says the best holiday shopping strategy is to do your shopping long before the holiday season starts.
Decide Incorporated is a consumer price research firm. It tracked prices for at least two years and found some surprising conclusions.
— Winter items become more expensive as the holiday season progresses. Example: Classic Cardy Ugg Boots cost $85 in September and October, and cost $136 on Black Friday – that’s a 60-percent increase.
— Electronics get more expensive. Example: Samsung 46-inch Professional LCD Television average $1,159 in October, and it averages $1,355 on Black Friday.
— Prices for the hot toys also go up. Example: A plush Elmo toy costs around $13.50 in September and October, and goes up 31-percent on Black Friday to $17.78.
— Jewelry is a last minute purchase that always tends to be more expensive during the holidays.
There are bargains on Black Friday. Research shows the door busters are a good deal, but they’re also a hook.
“Those discounts lead you into buying other things in the store that are more profitable for the retailer, so you don’t end up leaving with just that TV you leave with 15 items,” Duber-Smith explained.
There are some items that are worth waiting to buy closer to Christmas. If retailers have over-bought an item, you may see some deep discounts before the holiday. Retailers do want to try to avoid those shelf sweeper sales at the end of the year.
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– Written for the Web by CBS4 Special Projects Producer Libby Smith