It's time to gear up for another year of holiday shopping! While the economy is regaining its footing, high prices and inflation rates continue to linger. Experts predict that overall holiday spending will increase this year; however, National Retail Federation CEO Matthew Shay says, "Consumers will continue to be more price-conscious and pragmatic in their spending decisions."
That said, Black Friday is no time for window shopping and impulse buys. Instead, prepare for where, when, and how to shop online or in-person on Black Friday and Cyber Monday (BFCM) to stay on budget while filling up your gift sack.
To make the most of the sales, take a look below at our tips for creating your Black Friday shopping strategy and "what to do" list this year.
Black Friday shopping tips
Whether you plan to brave the crowds or shop online at home in your favorite slippers, knowing how to shop during Black Friday and Cyber Monday can save you time, stress, and money.
Set a budget for the season
Before you start your holiday shopping, sit down and decide on a total budget for gifts, plus costs for entertaining, travel, or decorations. Ultimately, you want to account for everything so that you aren’t shocked by your bank statements come January.
You can also keep your spending in check during the holiday season by:
- Shopping before, during, and the week or two after BFCM and avoiding last-minute rush gifts
- Using gift cards from RaiseRight to allocate and budget your per-store spending on gifts
- Making online purchases through RaiseRight for additional savings, in addition to using a gift card from RaiseRight to pay
- Installing browser extensions, such as the RaiseRight Earnings Extension, Rakuten, or Honey, that alert you if discounts, coupons, or earnings are available on a brand's website
- Including homemade, regifted, and thrifted ideas on your gift list
- Focusing on experiences and time spent together in addition to or in lieu of gift-giving—know that it's okay to scale back if you don't have enough money saved
Create a gift list
Just as a grocery list keeps you on track when perusing the aisles of your local supermarket, a gift list can make sure you don’t get distracted or overwhelmed when holiday shopping for friends and family.
To create an optimal gift list that helps you stay on task (and on budget), consider:
- Reminding yourself of previous gifts—Before you think of this year’s gift ideas, take time to write down the gifts you gave in previous years. This can help ensure you don’t give someone the same gift two years in a row, and it may help spark new ideas for this year. You might also consider noting what each person on your list likes (for instance, their favorite colors or flavor preferences), as well as their various clothing sizes.
- Cost tracking—Set a spending limit per person or event and stick to it. Keep a running list of your total spending to see whether you should edit your gift ideas to match the actual costs you're seeing. And if you're up for it, start a spreadsheet to make calculations easier.
- Taking note of various deals—As you look through BFCM ads and offers, write down each deal to ensure you get the best price possible.
RaiseRight pro-tip: To guarantee that you continue raising funds for your organization while indulging in the shopping frenzy, browse some of our holiday resources:
Plan ahead and start early
These days, many Black Friday sales long before you're plating turkey and cranberries. While this means you can get ahead on your shopping, are the early offers worth cutting into family (or nap) time? Do you have to choose between one or the other?
If you’re a diehard Black Friday shopper ready to camp out in front of locked doors all night, consider making it a family event! Or, scour the best online Black Friday shopping deals for Thanksgiving day and host a post-dinner “shop sesh” with your family.
By planning your strategy ahead of time, you can start your shopping early and make the most of Black Friday deals while still getting in time with your loved ones.
Arm yourself against marketing
Let’s face it—none of us escape smart marketing ploys. The best you can do is to prepare yourself with some knowledge and tips to make sure you see through the sales pitch to judge a purchase objectively.
Start with these facts:
- 49% of Black Friday buying decisions are influenced by free shipping offers
- Buyers respond to online ads more than twice as often on laptops vs. smartphones
- 62% think Black Friday is a gimmick, but 82% plan to shop on Cyber Monday/Week anyway
So, the next time you see that free shipping offer, feel pressured to get all your shopping done during BFCM, or go down an online rabbit hole, revisit your shopping plan and budget and think objectively about whether it’s worth the cost, stress, or time.
Know when to wait on deals
In 2023, the average BFCM discount level peaked at 29% off the listed price during Cyber Week, with the highest BFCM discounted categories:
- 38% off makeup
- 33% off apparel and accessories
In spite of toys hitting the top of the list, they’re actually a category that tends to be discounted even further come mid-December. So, when should you shop to get the best deals? Is BFCM worth it, or should you wait to check off your gift list?
For 2024-2025, U.S. News and NBC News recommends buying:
- TVs during BFCM unless you can wait for the only other better time: right before the Super Bowl
- Appliances at the end of December or beginning of January 2025
- Clothing at the end of any season
- Furniture in February or August
- Toys and sporting goods during BFCM
RaiseRight pro-tip: Plan your shopping in tandem with our bonus earning events like Raise Days in November. You'll earn extra on gift card or online purchases in time for the holiday season.
Not earning money with RaiseRight yet? Learn more about how it works or get started now for free!
