COLUMBUS – Many Ohio shoppers will be searching for Black Friday deals but a new survey examines whether or not the annual shopping tradition nets the best bargains of the holiday season.
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According to research from the financial website WalletHub, prices on 68 percent of items be discounted significantly on the day after Thanksgiving,.
Columbus Dispatch reporter Tim Feran discusses holiday shopping trends on “Perspective.”
But time is money, says consumer expert Richard Feinberg from Purdue University, who encourages shoppers to research items online before waiting in long lines.
“You have to decide whether or not the $25 you save by going to company X is worth getting in the car and going there or ordering it online and waiting for it. For most of us, it may not be worth it,” he said.
The survey found 17 percent of Black Friday items advertised as discounted actually cost more than what they currently sell for on shopping website Amazon.com.
Check out Thanksgiving and Black Friday deals
The website says books, movies and music will be the most discounted on Black Friday, followed by toys, but not every item advertised will be in stock, which could lead to impulse purchases.
“To lure customers in, a lot of stores now are having these big-ticket items at very steep discounts in very limited quantities, and once they get customers in, that’s when group think kind of washes over the crowd where you get things that you probably didn’t have on your list,” WalletHub spokeswoman Jill Gonzales said.
Feinberg notes the best deals actually are found after the holiday season, when stores are ready to clear their shelves.