Something to check out before you go crazy with those “deals”.
Many people see Black Friday as a great opportunity to stock up on Christmas presents or splurge on something nice for themselves, but this year some retailers deals aren’t all they appear to be.
According to a recent study by the personal finance website WalletHub, more than 10 percent of this year’s Black Friday deals are just repeats from last year, and some even raised their prices.
The WalletHub analysis compares the 2014 and 2015 printed ads from 16 of the top retailers in the United States and found that just more than 11 percent of deals are carryovers from last year.
JCPenney is the worst offender as its repeated print advertisements from 2015 average nearly 9 percent higher than they were in 2014. Big Lots repeated sales came in second at nearly 6 percent more expensive and Office Depot third at more than 2 percent higher.
Best Buy’s repeat deals were the best, according to the study, at nearly 9 percent cheaper than in 2014.
While the study found a lot of recycled deals, many of the Black Friday sale items can be found elsewhere for cheaper at any time during the year. More than 17 percent of items offered as deals on Black Friday can currently be purchased on Amazon.com for less, while 14 percent of items sell for similar prices.
Even some of the items offered as Black Friday deals on Amazon.com can currently be purchased for a lower price. For instance, Amazon offers a Firmstrong Urban Boy Single Speed Beach Cruiser Bicycle as a Black Friday deal, but the bike can be purchased for $40 less.
The study shows that books, movies and music offer the largest potential for discounts, while few retailers offer much of a discount on jewelry.
While JCPenney’s repeated deals are, on average, more expensive than last year at 68 percent, the department store offers a larger overall discount than any other retailer.
Department stores Kohl’s, Stage and Belk, along with Groupon rounded out the top five, with average discounts around 60 percent.
Wholesalers Costco and Sam’s Club are at the bottom of the list with 19 and 25 percent average discounts, respectively.
Together, the nation’s top retailers averaged a 40 percent overall discount.