Most people assume the term "Black Friday" refers to retailers moving out of the red and into the black — that is, turning a profit for the year as shoppers flock to stores to do their holiday shopping on the day after Thanksgiving.
But, according to several accounts, the expression actually originated in the 1960s when Philadelphia police officers used it to describe heavy vehicle and pedestrian traffic the day after Thanksgiving. You just learned something new, right?
Well, that’s not the only misconception about Black Friday.
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Here are five myths you should be aware of — especially if you plan to be a part of the heavy traffic in the stores the day after Thanksgiving:
MYTH 1: Black Friday starts on Friday
Many major retailers start rolling out discounts and deals well ahead of Black Friday. For example, Amazon launched Amazon Prime Deal Days, the retailers pre-Black Friday sale, weeks before Thanksgiving. So don’t assume that you should wait until the last minute to score a bargain.
"Where Black Friday used to be the kickoff to the holiday shopping season, it’s now close to the finish line for many consumers who’ve started taking advantage of deals earlier in the season,” says smart shopping expert Trae Bodge of TrueTrae.com.
MYTH 2: Everything is on sale
Just because retailers have big sales doesn’t mean everything in their stores or on their sites is on sale. Yes, you’ll find everything from computers, tablets, cookware, video game consoles and televisions marked down. But that purse your wife wants, golf club set your husband wants or video game your son wants might not even be discounted.
For this reason, before shopping, check retailers’ Black Friday ads at sites such as DealNews.com to see what items will be on sale. We've listed both Walmart Black Friday deals and Costco Black Friday deals for you to easily shop as well.
MYTH 3: The deals are the best of the year
Don’t be fooled into thinking that all of the items that are on sale on or around Black Friday are at their lowest prices of the year. Many of the discounted Black Friday prices are also available during other sales throughout the year.
And often, Black Friday retailers will try to trick you by inflating discounts on items, even though these items occasionally sell below MSRP throughout the year, suggests Courtney Jespersen, NerdWallet.com’s consumer savings expert.
MYTH 4: Doorbuster deals are available only in stores
Black Friday (and now Thanksgiving) is synonymous with doorbusters — deeply discounted items that are in limited supply and available only at certain times, used as a means to lure shoppers out to the stores.
However, many retailers are beginning to prioritize online shopping, especially after shopping habits during the pandemic. In fact, many retailers offer online-only deals, and Amazon.com often matches the best offers at brick-and-mortar stores. So before you head out the door, check to see if the deals you want are available online.
MYTH 5: It will be easy to take advantage of price-match policies
Maybe your plan is to head to one store on Black Friday, use an app to scan product barcodes, see if another retailer is offering those items at lower prices, then take advantage of the price-match policy of the store you’re in to get those items there for even lower prices. It’s brilliant, right?
Not so fast. Several major retailers, including Walmart and Costco will not match competitors’ prices on items for sale on Black Friday and through the following Monday. Call retailers or look up their price-match policies on their websites before you shop.
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