Black Friday and Cyber Monday: What to Know Before You Shop

Black Friday and Cyber Monday are still weeks away, but retail experts say now is the best time to prepare your shopping plan. With many retailers already advertising highlight items for sales around Nov. 29, shoppers who do a little research now will be much better equipped to spot genuine bargains when the major sales begin.

“It’s important to know the regular price of the products you want so you don’t first see the price on Black Friday,” said Diana Skakavac of the Have Coupons Will Travel social accounts. She and other experts stress that research and a clear budget are the best defenses against the intense marketing that surrounds the holiday shopping season.

Start tracking prices now to learn typical costs

Canadians expect to spend roughly $972 over the holiday season, with 40% planning to shop on Black Friday and 36% during Cyber Week, according to a Retail Council of Canada and Leger survey of 2,510 consumers. Respondents said they would allocate about 31% of their holiday budget to Black Friday and 30% to Cyber Monday.

Before the sales arrive, Skakavac advises shoppers to list the items they want, set a realistic budget and decide the highest price they are willing to pay. “Ask yourself: do I really need this now, can I afford it, and will it fit comfortably into my budget?” she said.

As an example, Skakavac is watching for a Dyson fan that typically retails for about $550. Acknowledging the brand seldom heavily discounts its products, she has decided she won’t pay more than $450. To determine whether a sale is truly worth it, she tracks historical prices over an extended period using retailer websites, in-store checks and flyer apps such as Flipp. Looking at pricing beyond just one or two weeks gives a clearer picture of whether a sale price is genuinely rare or routine.

Use price history tools to reveal real discounts

Jenna Jacobson, director of the Retail Leadership Institute at Toronto Metropolitan University, recommends using free price-history tools to gather months or years of pricing data. These tools expose patterns in corporate pricing and make it easier to spot recycled discounts.

“Retailers sometimes run the same price before, during or after Black Friday and still call it a Black Friday deal,” Jacobson said. Price trackers also help identify manipulated reference prices, where a large percentage “off” is calculated from an inflated original price or a competitor’s peak price. That 40% or 50% off sticker can look compelling, but it may misrepresent the true value of the discount.

Research shows many “Black Friday” deals aren’t unique

Even when discounts are accurately labeled, they are not always the largest markdowns of the year. A 2021 analysis by consumer publication Which? examined 213 UK Black Friday promotions and found that about 98% of deals were priced the same or lower at other times during the year. Roughly 85% were the same price or cheaper in the six months leading up to Black Friday, and 46% were more affordable at other times.

Prices often dip further after Christmas, but by then the best selections may be gone, with popular colors and models sold out, noted Yulia Nevskaya, an assistant marketing professor at Queen’s University. Waiting for a better discount increases the chance a product will become unavailable or that your preferred version will be gone.

Deals tend to cycle through the year. For example, items discounted during Amazon’s Prime Day in July may reappear in October sales or on Black Friday. Other retailers repeat similar promotions on Boxing Day. Because of these cycles, missing one sale doesn’t necessarily mean you’ve lost the best possible price.

Ultimately, the value of a deal depends on your needs. “A price is only a good deal if the purchase fits your purpose,” Skakavac said. Buying out of fear of missing out can lead to regret and unnecessary spending.

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