For the first time, the National Retail Federation predicts that Americans will spend over $1 trillion on gifts, food, and decorations this holiday season. The good news? There are tools available to help you determine whether the deal you're getting is truly a bargain.
"There are tools that show you historical pricing data like CamelCamelCamel.com and Honey," Andrea Woroch, a consumer savings expert, said. "This will tell you if the deal you're eyeing is, in fact, the most recent lowest selling price. If it's not, then I would wait to buy."
Woroch advises researching price data before shopping and checking which stores offer a price match guarantee this holiday season. If the price drops between your purchase and Christmas, you can request a price adjustment with your receipt and the item.
"This is kind of a no-brainer, a great way to ensure that you're getting the best deal no matter when you buy an item, so if you're unsure you're getting a deal, you know you'll still get it for that lower price when it does go on sale," Woroch adds.
While online shopping has diminished the appeal of in-store shopping, retailers like Target are making efforts to draw customers back into their stores this Black Friday.
"If you come in and if you're in line or you're one of our first lucky 100, you have a swag bag waiting for you, and ten lucky bags have an exclusive bonus offer ranging from $99 to like $350 that you can win," Meaghan Doyle, a Target store director, said. She added that the bonus offers range from a pair of Beats headphones to a fancy hairdryer, even a Ninja Slushie.
What are the best deals?
According to Doyle, the best deals to snag on Black Friday are personal tech items, smart home devices, large screen TVs and video gaming consoles.
"Basically, anything that has a plug, including small kitchen gadgets," she said.
For Cyber Monday, she said you'll typically find the best deals on clothing, footwear, and beauty products.
One more tip: some apps and retailers offer price alerts, which notify you when prices drop, helping you save money during the holiday shopping season.