Black Friday, the day after Thanksgiving, lands on Nov. 25 this year. While that’s still a ways off, holiday sales have already started. Here’s how experts predict the shopping event will shape up this year.
Black Friday, the day after Thanksgiving, lands on Nov. 25 this year. While that’s still a ways off, holiday sales have already started. But they’ve only begun to scratch the surface. There’s still plenty of season — and chances to save money — left to go. Looking ahead to Black Friday, what can shoppers expect amid rising prices and other concerns?Inflation will impact deals Inflation has driven up the cost of all goods by 8.
In some cases, the impact will be subtle. Retailers may charge higher delivery fees or shoppers may get less for their money through shrinkflation, in which a product’s price remains the same but its size or quantity is reduced. For example, a lotion bottle may contain an ounce or two less than before.
Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | Stitcher | RSS Feed | Omny Studio Supply chain snags could also benefit bargain hunters. In recent months, delayed shipment arrivals coupled with declining consumer demand have left some stores with excess inventory. Sales will continue throughout the next couple of months, giving shoppers plenty of opportunities to find deals. Experts expect that while some retailers will sit on some of their best promotions until closer to Black Friday, there’s no need to wait.
“Consumers that are members of loyalty programs will probably really benefit from exclusive offers, early access to sales, special discounts, gifts with purchase and all sorts of other types of benefits,” Dougherty says. Q: Are my purchases protected? Answer: In the U.S., buy now, pay later services are not currently covered by the Truth in Lending Act, which regulates credit cards and other types of loans .
Q: What are the other risks? Answer: Because there's no centralized reporting of buy now, pay later purchases, those debts won't necessarily appear on your credit profile with major credit rating agencies. Q: Why do retailers offer buy now, pay later? Answer: Retailers accept the backend fees of buy now, pay later services because the products increase cart sizes. When shoppers are given the option to pay off purchases in installments, they're more likely to buy more goods in one go.
“If work as promised, and if people can avoid late fees and don’t have trouble managing their finances, they have a place,” said Saunders, of the National Consumer Law Center.
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