BBB Black Friday Tip Sheet
It’s time to start planning your Black Friday, that special day after Thanksgiving when retailers gear up to offer their best. Better Business Bureau past experience tells us that all deals are not created equal and the fine print is often the most important thing. Before you head out the door for a block buster and get caught up in the frenzy, the BBB offers the following tip sheet to help you save time and money.
Tip 1 – Know before You Go.
In the coming weeks many retailers will release their Black Friday deals online, in social media and other publications. Research where the sales are and make a list of your gift priorities to compare prices and plan your day of deals. Since many advertisements will begin before the actual sale, build up a coupon collection as soon as possible. Remember to bring ads with you on Black Friday just in case the price is not what you expected.
Tip 2 – Don’t Fall for False Advertising.
Despite BBBs effort to advance trust in the marketplace, some companies will resort to advertisements that are untrue, misleading, deceptive, or plain fraudulent. Black Friday advertising will be abundant and BBB urges consumers to watch for red flags.
Many consumers have experienced frustration and lost money they can’t afford to lose after being lured by prices too good to be true, bait and switch ads designed to bring you in but push you toward more expensive items, fine print return policies, final sales, and deals that end before the day is done. To protect you on Black Friday, BBB advises consumers not to believe all they see or hear without doing their own research to confirm the claims being made. For details and help to decipher truth in adverting, consumers can review BBB’s code of advertising.
If you find advertising you’d like the BBB to investigate tell us more by emailing info@upstatenybbb.org.
Tip 3 – Maximize Advance Alerts.
Do you have favorite retailers? Now is a good time to sign up for their email alerts and “like” their Facebook page. BBB Accredited Businesses and other stores are working to reward your loyalty and you may get a jump on special offers.
Tip 4 – Set up Your Reward Cards.
Have you ever stood in line with out your store rewards card? You either missed out or the clerk may have handed one over. Black Friday deals may have strict restrictions with no sharing allowed. Make sure you have reward cards with your favorite stores and keep them with you. Check your credit card rewards program as well for special points that could add up on Black Friday.
Tip 5 – Shop with Trust.
If you find a deal – don’t just jump at the first chance to get it. The BBB recommends doing your research on the business – know how long they’ve been in business, look into their customer service track record, check them out at bbb.org. If you have concerns about the type of gift or the right fit – make sure you ask about their return policy too.
Tip 6 – Comparative Shop Online.
There are dozens of Black Friday websites that claim to capture the best deals around and they can really help you do your comparative shopping online. Before you pick your favorite site, the BBB recommends that consumers find a reputable site that’s not a fly-by-night operation by checking them out at bbb.org and see what others say about the site through an online search.
If you decide to buy online there are a host of security measures to abide by, among them to Start with Trust and know you are dealing with an experienced, reputable retailer; confirm that the site is secure and be certain you have a phone number and physical address should problems arise with your order.
Tip 7 – Look for QR Codes.
They’re square, black-and-white and funny looking – but they can take you straight to a deal. QR stands for Quick Response codes and they’re popping up in many ads and print materials. Several BBB Accredited Businesses use them to help you Start with Trust and they can bring you directly to a special offer or a BBB Business Review. Before you can scan one and view the offer – you’ll have to install a QR app reader. Most newer smart phones are equipped to scan QR codes and if you’re a mobile shopper you could really have some fun.
Tip 8 – Shop Small
Save your gas money and your time when you stay close to home. The Better Business Bureau is encouraging consumers to support small businesses in their community on Small Business Saturday, the day after Black Friday. Check your neighborhood retailers for their weekend deals and gain some goodwill by knowing you’ve done your part to help them thrive during the holidays. Although a price match may not be applicable for some items – your neighborhood store may be able to guarantee a price for you – even if you decide to buy later.
Tip 9 – Check Return and Exchange Policies.
All bets can change for Black Friday deals which means the store policies can change too. Make sure you know what the return and exchange policy is for your Black Friday special and that a return is even possible – especially if you’re buying online. Final sales, a very short return window (like before December 25th) or in-store or online only credit could leave you with deal gone wrong.
Tip 10 – Shop Safely.
While getting a deal is important, there are ways to shop safely without putting yourself or your wallet in jeopardy. The Better Business Bureau advises consumers to take their time and plan ahead for the best rewards.
· Make a list and prioritize where you should go and when.
· Bring friends into the mix to help sort through your options, two cars can go in two directions making it easier to get limited quantities and some pals will even wait in line as you trade off shopping in the stores.
· Remember to get gift receipts and keep them organized for those moments when the thought wasn’t quite enough.
AICCCA Says Consumers Need a Plan to Avoid Red Tuesday™
Fairfax, VA – November 17, 2011 – Black Friday is almost here, followed closely by Cyber Monday,
both of which bring sales that are hard to resist. The Association of Independent Consumer Credit
Counseling Consumers says that consumers who are going to advantage of these sales need to be
aware that a Red Tuesday could be the result of charging their holiday expenses.
Consumers are expected to spend an average of $704.18 on holiday related expenses for 2011
according to the National Retail Federation. Charging that amount on a credit card with an
interest rate of 18 percent and making only a five percent minimum payment each month would take
almost four years to repay. Add $233 in interest charges during that time and consumers will find that
their 2011 holiday expenses cost close to $1,000.
.“Red Tuesday is a real possibility for consumers who do not take the time to plan,” said Dave Jones,
president, Association of Independent Consumer Credit Counseling Agencies.
In order to avoid a Red Tuesday in 2012, AICCCA offers the following tips for Black Friday
and Cyber Monday spending:
Write it down. Look over the ads and make a list before you shop, whether online or in person. A
complete list makes it easier to walk away from impulse buys.
Pay with cash. For Black Friday shopping, determine the amount of money you have on hand to spend and take only that amount of cash with you when you shop. Be sure to leave your credit cardsat home so that when you run out of cash, you will have to stop.
Do your homework. For Cyber Monday shopping, search for free shipping and coupons. Be sure to
shop only at sites you trust. Credit cards are actually a safer option for online shopping. To avoid
incurring interest charges and adding to your debt load, charge only the amount you can pay in full as
soon as the bill arrives. If you go over that amount, try to charge no more than what you can pay off in
90 days or less.
If your Tuesday is red, contact an AICCCA member at 866-703-8787 or visit http://www.aiccca.org/.
AICCCA: Founded in 1993, Association of Independent Consumer Credit Counseling Agencies
is a national membership organization established to promote quality and professional delivery of credit
counseling services. AICCCA and its members are focused on financial education, efficient processes
and advanced technology to best serve clients and creditors. AICCCA members are independent
nonprofit agencies that advocate for debtors, annually counsel millions of consumers nationwide
and provide debt management services to consumers with excessive unsecured debt. To
contact an AICCCA member agency call (866)703-TRUSTAICCCA (866-703-8787) or visit
http://www.aiccca.org/.
Say Sayonara to These 8 Bad Shopping Habits
Whether you love to shop or find the whole thing a drag, you’ve likely developed some bad habits that are costing you money and time. Sometimes shopping itself can be a bad habit, especially during the holidays when events like Black Friday and Cyber Monday encourage impulse buying.
While changing your buying behavior takes more than a tip sheet, there are some problems that can be fixed without your ever missing them. Consider taking the “never-again” pledge and see how much you can save by ditching the following seven shopping habits.
1. Don’t Double Up With BOGOs
Buy-one-get-one-free offers require you buy two of a product, so ask yourself a few questions before going for the second item. Do you have enough storage space? How long before you’ll actually use the product? What if you don’t like the first half of the deal; will you just trash the second?
2. Resist Checkout Impulse Buys
Put on your blinders while waiting in supermarket lines. Merchants place tempting items directly in your line of sight — like tabloid newspapers — so you’ll grab and stash them in your cart. Check out “9 Ways Supermarkets Suck You In” for more sneaky strategies to avoid.
3. Nix Extended Warranties
Clerks selling electronics, appliances and other big-ticket items are often trained to push extended warranties. These upsells cost far more than they’re worth, since most of these products already come with manufacturer warranties for at least the first year. Extended warranties also can be difficult to cash in on, should the product break down.
4. Avoid Gift Wrap Services
Gift wrapping and gift boxes, particularly those purchased online, usually cost far more than they’re worth. Pick up your own supplies at the dollar store and get out the tape. Better yet, recycle gift bags you’ve received in the past, or consult Martha Stewart’s “Gift-wrapping Ideas” to re-purpose common household items for a truly unique approach.
5. Forgo Store Credit Cards
Merchants offer savings when you sign up for their credit cards, but you’ll ultimately pay through the nose via interest rates and potential late fees. For some reason, just applying for these cards also dings your credit rating. Just say no and, instead, buy cheap gift cards from websites like GiftCardGranny for your preferred merchants. You can save anywhere from 10 percent to 50 percent and still buy the merchandise you want at the card’s face value.
6. Don’t Drink and Shop
There’s usually a healthy mark-up on drinks sold in store coolers. If you’re the type that needs a bottle of soda or water to make it through a dreary shopping trip, plan ahead and bring your own from home.
7. Prevent Gift Card Waste
According to an article on Kiplinger.com, American households have an average of $300 in unused gift cards collecting dust in their wallets, purses and sock drawers. Holding onto gift cards is a costly habit, one which can be remedied by exchanging them for cash on Gift Card Exchange Day. Scheduled for Dec. 26, this one-day online event serves as both a reminder and a resource to trade gift cards for greenbacks, with resellers competing for your unwanted bounty.
8. Dodge Daily Deals
Daily deal sites like Groupon and LivingSocial make saving look easy, and as a result make spending even easier. Thanks to overzealous deal purchasing, there’s now an entire industry made up of merchants who buy your unused daily deals for resale. If you habitually purchase daily deals and rarely use them, consider going cold turkey for a while.
As a consumer and money-saving expert, Andrea Woroch dissects retail trends and provides smart shopping and money-management tips to help Americans save more. She has worked with top news outlets across the country including NBC’s Today, Good Morning America, New York Times, USA Today and Kiplinger Personal Finance. For better buying tips and personal finance advice, follow Andrea on Facebook and Twitter or check out her website atwww.AndreaWoroch.com.
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