A lot of stores have already begun their Black Friday deals, especially if they are mail order, as shipping has slowed this year. But you may have noticed that the deals just don’t seem as great this year. What’s going on? Are there fewer Black Friday deals this year?
Supply Chain Issues Means Fewer Products
We’ve heard a lot about all of the supply chain issues over the past month or so. To put it simply, because of the pandemic, the supply chain got quite tangled up and it’s going to take some time for the production and shipping issues to be resolved. This means that there are generally fewer products available this holiday season. In some cases, the product couldn’t be made because some of the parts were missing (this is very true when it comes to computer chips, which were in high demand during the pandemic), in other cases, the items were manufactured outside of the country and companies weren’t able to get them imported in time. So some items that would normally be on sale for Black Friday aren’t available at all, and in the case of other items, there are simply fewer available.
Fewer Products Means Higher Demand
When stores have fewer products to sell but the same number of people wanting to buy those products, that means there is higher demand for each of those products. And when there is higher demand, you’re all but guaranteed to see higher prices. Stores have Black Friday sales to get you into the doors (especially with Door Busters) and to get you to buy more items. Even when something is on sale, the store is still making a profit. But with fewer items to sell, to make that same profit, they need to sell at a higher price.
So not only will there be fewer things on sale, but the discounts won’t be as deep.
Should You Wait for Sales?
In my opinion, if something is on sale now and you are planning to purchase it, don’t wait until Friday’s sales start. Get it now, or you risk the store running out of the item. If it’s not something you want and you’re willing to go without if they go out of stock, then by all means, wait, but if you’re looking to get that specific item for yourself as a holiday gift, I wouldn’t risk waiting and not being able to get the item you want. There are going to be fewer Black Friday deals and you should make sure you shop smart.
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Megan is a 40-something government employee in the Washington, DC area. She got interested in Personal Finance when she got out of college and realized that her paycheck wasn’t going to go as far as she had hoped. Since starting this blog, she has managed to buy a house and make a solid start on her retirement goals, and hopes to help others do the same. Here is her story:
In 2007, I was a gainfully employed 20-something with no debt but not a lot of knowledge about personal finance. It was a co-worker’s comment about Roth IRAs that sent me to the internet, searching for information. It was then that I realized that I really didn’t know a whole lot about personal finance and that my current financial situation was due a lot to inherent frugal tendencies, generous family members, a fear of debt, and good luck. While that was working for me, clearly I needed a better plan.
While I had no debt, I was also pretty much living paycheck to paycheck and not worrying about going over budget (I say this as if I had a real budget) because I had an emergency fund set aside to cover any overages.
Except that’s not what an emergency fund is for.
So I did a lot of research, read a lot of blogs, and decided that I needed a plan. I needed to budget. I needed to know what I was spending my money on. I needed to prepare for the future.
I decided to create a blog not only to make myself accountable to others but also to share the knowledge that I gained along the way. I’ve learned so much from my fellow bloggers, and I hope that my readers can find something useful in what I have to share as well.