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Black Friday Deals May Be a Myth, Research Shows

8:24 AM, Nov 21, 2012   |    comments
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For those you planning your Black Friday shopping attack, beware.

Price tracking data from the past six years shows those deals may be a myth.

Here's what you may want to consider before the post-turkey shopping spree.

But first, a disclaimer. We know know many of you shop on Black Friday as a kick-off to the holiday season. If that's your reason for staying up all night, standing in the cold or fighting the crowds, don't let this stop you.

This is for folks who think they have to jump into the pre-Christmas chaos to get the best deals.

A National Retail Federation survey says you'll be shopping alongside 147 million other American's during the Black Friday weekend.

If that's not enough to frighten you, this might.

Research commissioned by the Wall Street Journal and conducted by a data gathering company called Decide Incorporated, shows gifts from Barbies to kitchen appliances and watches usually cost less at other times times of the year.

For example, price tracking datas shows that watch you've been eyeing was probably at its best price in March. Either wait to next year to buy it or go ahead and over pay. Jewelry and other luxury items tend to go up in price the closer you get to Christmas.

Those Ugg boots your daughter wants are probably past their prime for this season. They were most likely at their lowest price point in September or October, and again, they only go up the closer you get to Christmas.

The same goes for that flat screen TV. It was probably at it's best price in October.

Here's some holiday cheer we have to offer from the price study. If you're looking for a blender for mom or a toaster oven for the wife, you will probably get the best deal closer to the big holiday. Retailers often mark down prices on items they overstocked in the days before Christmas.

There are deeply discounted deals to be found on Black Friday, or Thursday as we've seen with this year's early openings.

Keep in mind quantities will be limited on those items, so plan your attack to get the places offering the products at the top of your list first. Know that retailers use those rock bottom sales to get you in the door, often keeping other products at their regular price.

If the gamer in your family wants an X-box, those same price tracking studies show you're in luck. Video game systems see the biggest price plummet on Black Friday and Cyber Monday, often saving shoppers about $100.

One more tip, USA-Today says even big doorbuster deals can often be found online for less. If you're set on going to the stores, bring along your smart phone and use Amazon or Red Laser's App to check the in-store price against an on-line price.

If it's lower online, many stores have price matching policies.

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