Common Black Friday myths and advice for shopping smart

11:42 PM, Nov 20, 2012   |    comments
(Photo by Tom Pennington/Getty Images)
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We're just a few days away from Black Friday, and less than two days from those Thanksgiving doorbusters, but along with those Black Friday deals comes a lot of hype and misinformation about the biggest shopping day of the year. So, we want to dispel some common Black Friday myths according to

Myth #1: Stores have a lot of doorbusters

Most retailers have limited quantities of big-ticket items, and it's likely only the first few shoppers in line will snag them.

For example, last year, Best Buy offered a 42-inch TV for $199, but the retailer only guaranteed 10 per store. Those mega deals are meant to entice shoppers, to get them in the door.

Myth #2: You need to camp out to get the best deals

Although some wait in line for days, more and more Black Friday deals are available online as well as in-store.

Lasy year, 70 percent of in-store Black Friday deals were also available online for the same price or less.

Myth #3: Everything on Black Friday is the lowest price of the year

In fact, experts say you might want to wait a couple of weeks.

"Some stores have come out that you can find better deals the week before Christmas. In fact, Free Shipping Day, which is on Monday December 17, you can get free shipping with guaranteed delivery by Christmas Eve and retailers towards the end of the season will be offering deeper discounts and markdowns on top of that free shipping, so it may pay to even wait to do your holiday shopping," said Andrea Woroch, consumer savings expert.

Toys see the deepest discounts right before Christmas. HDTVs drop in price between December and February, and winter apparel sales are best after Christmas.

Myth #4: Nobody will beat Black Friday prices

We already know that's not true. Major retailers, like Target and Toys 'R Us, have already said they will match competitor prices.

Last year, Amazon, Best Buy and Home Depot matched prices, and sometimes offered better deals.

Myth #5: Good deals are printed in Black Friday ads

Many secret deals are found online. So, find them on the web before you consider a trip to the store. Some retailers make last minute cuts, so always check back online for listing updates.

Although the low prices may be enticing, at least one consumer website has a list of items you may not want to buy right now. According to, there's not need to buy a video game console without a bundled item. You're likely to get more bang for your buck by opting for one that comes with a few extras-- like the console and two or three video games.

You may also want to think twice about buying digital cameras. The premium current generation models are just a few months away from being replaced by a new line of 2013 options.
Christmas decorations too. Those deals tend to get better the closer we get to the holiday itself, and of course are best after the holiday.

Same with jewelry and watches. The discounts on those items this time of year are often no better than those around Valentine's Day when they're at their greatest demand.

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