The best shopping days of the year, Black Friday vs Cyber Monday. If you are looking for massive sales and great deals, don’t look any further. Black Friday always comes a day after Thanksgiving, and Cyber Monday three days after Black Friday.
Retailers are making more money on Cyber Monday than on Black Friday. In 2018, Cyber Monday generated $7.9 billion in online sales compared to $6.2 billion for Black Friday.
1 – In-Store vs Online
Black Friday is the perfect day for retailers to attract customers to their store. Even if a lot of online retailers are offering great deals online, most people still go in-store to buy their Black Friday purchases. On the other hand, Cyber Monday is the perfect day for online retailers to attract customers to their online store by offering exceptional bargains on a wide range of products.
Both days offer a different shopping experience to its customers. Black Friday shoppers are usually waking up early to wait in line for the store to open. But, after paying for the items, they can use them right away. In comparison, Cyber Monday shoppers can buy their purchases wherever and whenever they want to, but they will have to wait for their items to be delivered to use them.
2 – Items On Sale
The discounted items sold on Black Friday and Cyber Monday can be different. Black Friday is more about electronics, home goods, and specific products. Cyber Monday is more about a wide range of products. For example, it is not unlikely to see online retailers discounting all their products on Cyber Monday.
As a rule of thumb, people should buy bigger items for Black Friday and smaller items for Cyber Monday. Make a list of all the things you need to buy and divide them between Black Friday and Cyber Monday to score the best deals on each day.
3 – Better Deals
Who is offering better deals, Black Friday vs Cyber Monday. In general, Cyber Monday offers better deals than Black Friday due to the broad range of products that are on sale.
Also, some retailers further discount their products that didn’t sell on Black Friday. This way, you can find better deals on Cyber Monday.
4 – Out Of Stock
You spent time doing your research, you just found the perfect deal, but before buying it, you get an “out of stock” message. That is something that you don’t want to see, especially on Black Friday or Cyber Monday.
According to Adobe, there is a higher chance for products to be out of stock on Black Friday. So, make sure you start by buying the items that are selling quickly. For example, toys are a hot product during Black Friday and Cyber Monday.
5 – Time To Prepare
It is recommended to plan ahead of time for Black Friday if you want to score the best deals. Make sure to take a look in your mailbox or when you watch TV for ads. They are sent weeks in advance, so you have time to decide on the strategy you want to adopt.
But for Cyber Monday, it can be tough to know in advance what will be the best deals. Online stores don’t advertise much about their Cyber Monday deals. As a result, people are going from website to website and look into the lighting deals to track the best deals.
Before Buying Your Black Friday Or Cyber Monday Purchases
Only Buy What You Need
It is easy to get carried away when shopping on Black Friday and Cyber Monday. There are so many great deals that you will be tempted to buy things you don’t need.
It was a few years ago, but I still remember Black Friday 2015. I went on a shopping spree, and I ended up buying 57 items in one day. I was living in a studio with minimal storage space. So when all my purchases arrived, I didn’t know where I could store them. It made me realize that more than half of what I bought were unnecessary purchases. So, in the end, I returned 46 out of 57 items.
I learned a great lesson that day. Since then, I do my best to only purchase the things that I need. So remember, before buying all the items in your cart, make sure you have a need for them.
Read The Return Policy
Some retailers are using Black Friday and Cyber Monday as a way to clean up their inventory. In this case, the last thing they want you to do is to return your purchase. To reduce the number of returns, they may include special conditions to their return policy. So, before clicking on the buy button, make sure to read the return policy. This way, you won’t be surprised if you cannot return your purchases.
Double Check Shipping Costs
Another thing to watch for is the shipping costs. You might have to pay for shipping to receive your item from the retailer. Or, you might have to pay for the shipping fees if you want to return an item to its retailer. These costs can quickly add up, and they will reduce your Black Friday and Cyber Monday savings.
Most of the online retailers offer free shipping when you spend a certain amount of money on their website. Therefore, make sure that you are not paying shipping fees when buying an item. If it is the case, try to buy a similar item from another website that offers free shipping.
In conclusion, there is no clear winner between Black Friday vs Cyber Monday. It depends on which item you are looking at and how you intend to purchase it. Anyhow, now that you know the differences between Black Friday and Cyber Monday, for each item you are planning to buy, save some money by following these tips.
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By Marco Carreira
I am a financial coach who helps people make more out of your money. My goal is to teach you about financial strategies so you can make better decisions.