NEW YORK (CBS NEWS/NerdWallet) – Like the arrival of Santa’s sleigh on Christmas Eve, each year retailers deliver a host of deals, discounts and freebies for shoppers as part of a highly anticipated shopping event called Black Friday, which falls on the day after Thanksgiving.
Many of the deals are legitimate bargains, but others are nothing more than ordinary sales wrapped in shiny packaging. How can you tell the difference? We have the secrets you need to know about the annual discount shopping bonanza, which this year is November 24.
1. Doorbusters are few and far between
Doorbusters are the blockbusters of Black Friday. They’re deeply discounted products that are available for only a limited window of time — usually on Thanksgiving Day or Black Friday. The products look good, and the prices certainly sound good, but the reality of actually getting your hands on one of these items isn’t so rosy.
Most retailers will indicate “limited quantities” beneath certain deals. In 2015, we got a sense for how limited that could be when Sears plastered a Kenmore Elite washer and dryer on the front page of its Black Friday ad, with the promise of 51% off on the pair. But the fine print below the deal revealed that there were approximately only four available per store.
The story is similar at other retailers. If you don’t secure a spot at the front of the line or log online the moment a sale starts, you could miss your shot at these big deals. Shoppers should look for stores with doorbuster guarantees. In some cases, as long as you arrive at a certain time, you can be guaranteed the low price.
2. Discounts are often inflated
Deals can be difficult to grab, but they can also be misleading. Last year, a NerdWallet study found that some stores inflated the amount of certain Black Friday discounts to make deals appear better than they actually were.