black friday

Black Friday is known for its ability to bring the crazy out of people and this year was no different! Read about the evolution of these console launches and how diehard video gamers spent Thanksgiving sleeping in a parking lot for the CHANCE to purchase either a Sony Playstation 5 or Microsoft Xbox Series X/S.

Let's be honest, as we approach the end of the year it is totally ok to admit how terrible it has been.

A global pandemic, a nearly year long lockdown and a deep recession to go with it, 2020 is definitely a year I will be happy to see end next month.

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The 90's are dead. Again.

According to the global investment banking firm, Jeffries, brands like FILA, Champion, and others known mostly for their 'retro' 90's designs are in trouble. Despite a surge in popularity over the past few years that had everyone wearing Supreme, sales for throwback fashion retailers going into 2020 are nothing short of worrisome. "These brands in particular are no longer driving the buzz they did [last year]," said Jeffries analyst, Janine Stichter. While brands like Zumiez and Guess "are showing relatively better staying power" than competitors like Urban Outfitters who rely more dramatically on vintage aesthetics.

Trendy hipsters shown wearing popular 90's fashion brands like FILAHow will we survive?

So that's what's happening in fashion. But it's not just denim that's fading this year (see what I did there?), we also have the US economy! President Donald Trump announced this week plans to ratify a bill backing protesters in Hong Kong. China was not having it and made it clear there would be retaliation. "The standoff," as Reuters referred to it "knocked Wall Street's main indexes off record highs."

At 10:19 a.m. ET the Dow Jones Industrial Average .DJI was down 56.67 points, or 0.2%, at 28,107.33, while the S&P 500 .SPX was down 4.08 points, or 0.13%, at 3,149.55. The Nasdaq Composite .IXIC was down 9 points, or 0.1%, at 8,696.18. - Reuters

"But that's just one crappy day," you say. Tell that to Barclays! They decided this week to focus their equities on European and emerging markets going into 2020. "This market is a better bet than U.S. stocks," claims Emmanuel Cau, European equity strategist at Barclays. And of course, like everything else, Trump has something to do with it. Cau went on to state: "U.S. equities have tended to perform well in the fourth years of presidential terms, but this time around, the Trump impeachment hearings could affect investor confidence given the possible impacts on the outcome of the next election." He then threw some shade towards Senator Elizabeth Warren's policies and my eyes rolled right off the page.

Finally, let's talk Black Friday, baby! Nothing cures economic meltdown woes like good old retail therapy, am I right? (Won't help Supreme or Urban Outfitters though...they're doomed.) Shoppers dropped $4.2 billion online during Thanksgiving and are expected to spend at least $7.4 billion online today for Black Friday. Those are record highs for online sales and a nearly 15% increase over last year.

What are people buying? AirPods, apparently.

Statistics show Apple's growing domination of the wireless earbud marketApple is basically the Air Bud of earpods. The Ear Bud of airdogs? Kill me. Statista

While online sales are skyrocketing and total money spent on Black Friday has increased every year since 2008, sales in brick-and-mortar stores continue to decline. As a result, holiday season hiring for retailers has been declining since 2016 and several companies have been offering exclusive in-store sales, desperate to relive the glory days of sweet, sweet foot traffic. You know, like when hoards of people would trample each other for 20% off meaningless junk. I'm sorry, toys are not junk. Toys save lives, and that is a fact. Regardless, as thebalance.com recently reported, over 75% of popular toys are purchased online at walmart.com, so stores are screwed. Remember Toys 'R' Us? Oh boy, that's what we'll be saying about Urban Outfitters in a few years!

And that's your week in financial news!

UPDATE: a Toys 'R' Us was raised from the dead in a New Jersey mall this week. The zombie apocalypse is upon us!

Black Friday has a reputation for being the best time of the year to score some serious deals, but according to the New York Times, "not every discounted TV is worth buying, and not every gadget on sale on Black Friday is at its best price." Retailers know that any sale on the day after Thanksgiving will draw crowds because of the days reputation, so they often hold off on offering their best prices until later in the year. But just because Black Friday isn't all it's cracked up to be doesn't mean you can't still find some great deals. Check out our tips below to make sure your Black Friday shopping is actually saving you money!

1. Review Price History

Business Insider

Sometimes retailers hike up prices in anticipation of Black Friday sales so that the discounts appear all the more drastic. To make sure you don't fall for this trick, start doing your research now on any products you may want to purchase on Friday. Compare the items price at various retailers to get an idea of what the product usually costs, and then keep that number in mind when looking at Black Friday deal options. You can also check websites like CamelCamelCamel and Invisible Hand to compare price trends.

2. The Best Discounts Tend to Be in Electronics

While you may be tempted to hit the mall on Black Friday and score some deals on clothes or home goods, the deals in these categories probably aren't worth the hassle. An editor at Wirecutter, Adam Burakowski, says, "For this year, I'd say take a good look at the small appliances (instant pot), smart home, and headphone categories. We've seen some really strong pricing in those areas already with some of the best pricing of the year."

3. Remember Black Friday Travel Deals

Evan Crawford, regional marketing director for San Antonio's Hotel Contessa, told Today, "Most consumers don't immediately connect travel deals with Black Friday, but some of the best savings during Black Friday through Cyber Monday actually come from the hotel and travel industry." For example, Hotels.com is offering a deal starting on Nov. 23rd that will allow people who visit the website to participate in a lottery for discounts on lodging. The discounts will range from as little as 7% to as much as a 99%.

4. Check the Model Number

Sometimes, even if the brand name is trustworthy, stores will offer deals on inferior makes and models that they haven't been able to move off their shelves. We recommend doing a Google or Amazon search on the brand and model number and reading the customer reviews. If the product is brand new to the website and doesn't have any reviews, it may be a product specifically made for Black Friday, and is likely low quality.

5. Check Out Small Business Saturday


Small Biz Daily

Head out to your local shops on Small Business Saturday and find deals that save you more money than the deals at big box stores. Small businesses recognize the importance of getting shoppers in the door on Black Friday in hopes that they'll earn some year long patrons, so are much more likely to offer serious savings. Plus, you can feel good that you're helping out a small business in a competitive landscape.

This Black Friday, make sure to shop smart and do your research to ensure you get the most out of America's biggest shopping day!

Before you rush out of the house mid-way through Thanksgiving dinner to hit up the hottest Black Friday sales, take a moment to find out if the savings you think you'll be getting are really as good as they were made out to be. Getting trampled by a pack of value-hungry lunatics who just ate their weight in mashed potatoes isn't much to be thankful for this season.

WalletHub, a personal finance website, recently published an in-depth report for 2016's Best Black Friday Deals. They conducted this project based on a study from BestBlackFriday.com which found that 63% of respondents didn't feel as though Black Friday offered the best deals of the year. Is it all hype?

For some things, yes, it is a bit of hype. Some so-called Black Friday deals are no better than the usual sales offered year-round. Yet, many stores and online sites know that pre-holiday shoppers whip themselves into a frenzy and seek out any sale they can find, often thinking it can't be beat. So how can we be sure those Black Friday deals are really something special? That's where WalletHub's findings come into play.

They based their determinations by studying the following: Best Deals Overall, Best & Worst Product Categories for Black Friday Shopping, Percentage of Good Deals by Retailer, and Top 7 Deals by Retailer. They also took expert advice into account in order to make sense of it all.

The report is quite extensive and can be read in detail here. That said, here are some interesting takeaways:

Top 5 Deals:

  • 1.Nordic Track Elite 3700 Treadmill ($1,000 additional discount if purchased on Black Friday)
  • 2.Dell XPS 13.3" Touchscreen Laptop ($376 additional discount if purchased on Black Friday)
  • 3.Sony 75" HD Smart TV ($498 additional discount if purchased on Black Friday)
  • 4.Color Switch Plus Vancouver Fir Tree ($271 additional discount if purchased on Black Friday)
  • 5.Canon Digital SLR Camera ($250 additional discount if purchased on Black Friday

Top 5 Categories with the Best Savings:

  • 1.Video Games
  • 2.Appliances
  • 3.Furniture
  • 4.Computers & Phones
  • 5.Toys

Worst 5 Categories:

  • 1.Jewelry
  • 2.Apparel & Accessories
  • 3.Consumer Electronics
  • 4.Consumer Packaged Goods
  • 5.Books, Movies, and Music

So before you skip out on mom's famous pecan pie, think about the sales and if what you're seeking to buy is really all that great of a deal. There's always Cyber Monday, after all!