The competition among Black Friday bargains is expected to be brutal this year, with as many as 138 million shoppers trolling for deals that day -- 4 million more than were projected last year, according to a forecast by the National Retail Federation.
That's a lot of people fighting over $99 e-readers and $200 HDTVs both online and in stores. With the frenzied crowds and circulars pushing "doorbusters," "buy-one-get-one-free" toys and bonus gift cards, it's easy to get lured into spending more than you should.
"You can get caught up in the excitement of being at the store," says Mike Palso, the chief operating officer of coupon and deal site eDeals.com. Don't get suckered, he says. "Make a list of what you're looking for, and if you have (a list of) five things don't let yourself walk out the door with 15."
And remember, just because it's on sale on Black Friday doesn't mean it's the best deal of the season. Play it smart with MSN Money's step-by-step guide to scoring only the sweetest deals on Black Friday.
1. Make up your Christmas list. This sounds embarrassingly simple, but it's critical. If you don't make a list of the toys and gifts that you think your family and friends would like, you'll end up buying more than you had counted on to hedge your bets.
2. Scan for those items. Check the Black Friday ads that have been leaked to sites such as BlackFriday@GottaDeal.com, Black Friday 2010 or BlackFriday2010 for the items you selected. Each of these sites allows you to make a comprehensive list of the items you'd like to buy (or are considering). From that list you'll be able to narrow down a list of places to hit on Black Friday.
3. Compare prices. Some deal sites have put together buying guides for some of the most popular big-ticket items on Black Friday, such as laptops or video cameras. Use a shopping search engine to see what these products are going for now.
According to ConsumerAffairs.com, Consumer Reports found an electric percolator "on sale" at Kohl's stores and Kohls.com for $61.99, a discount from the regular $69.99. But those prices are higher than the $59.99 manufacturer's suggested retail price. Using a Web search, CR found better deals. The best price was $30.03 plus $8.21 shipping at Sale Stores.
Check reviews on sites such as Cnet and make sure you're clear on the features of those electronics that you are considering. Black Friday is all about rock-bottom prices on no-name goods (or those that aren't so familiar), says Dan de Grandpre, the CEO of Dealnews.com. That's fine if it's not going to be your primary TV, or if you only need a limited number of features on that Blu-ray player.
"Also, if some gadget or appliance has an ultracheap price, consider why. You may want to shell out the extra bucks and get something that will last until next Black Friday," Palso says. The $19.99 Black and Decker toaster oven that's half off at Target's sale, for example, may last longer than its no-name $9 rival. And that GPS may be on the way out.
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