Looking for a Good Deal on Black Friday? Here's Why You Want to Check Those Prices Twice

For some, Black Friday is considered a contact sport. They'll do whatever it takes to be the first in the store when it opens. For others, it's a chance to shop with a friend or two and get into the holiday spirit. Whether you head out (or log online) first thing every Black Friday, it's important to understand the different ways retailers have learned to squeeze every last cent from their "sale prices."

They inflate (then deflate) prices

Let's say you're shopping for a nice coffee maker. As you stroll through your favorite department store, you find a model with a price slashed from $75 to $45. Confident that you won't find a better deal than $30 off, you make the purchase.

It's not against the law for a retailer to inflate prices or to manipulate the size of the discount it's offering. Unless you've tracked the item, you have no way of knowing if it's ever truly been priced at $75 or whether $45 is the regular price, but with a fancy sale sticker thrown on it.

Holiday shopping tip: Make a list of items you would like to purchase as early as possible. Then, give yourself time to scroll through the internet to get a sense of the regular average price. Make a note of that price next to the product on your list. If you want to end the month with a little extra in your bank account, refer to the list often to avoid overpaying.

You may end up with a facsimile of the item you wanted

As you look through Black Friday ads this year, keep this in mind: The products advertised may be so inexpensive because they're low quality. For example, if you've been shopping for a 65-inch television for months and find a shockingly low price on a brand you respect, buying it may seem like the sensible thing to do.

But retailers and manufacturers partner up for Black Friday, producing lower-quality versions of popular products that will lure in the greatest number of shoppers.

Holiday shopping tip: Whether you're looking for a television or pots and pans, make a note of the specific brands you're interested in, along with model numbers. To know whether an item is truly discounted, it's important to be sure it shares a model number with the more expensive version.

Price matching is not guaranteed

Price-matching offers are common, both with brick-and-mortar stores and some online businesses. Before you count on it, though, you'll need to check with the retailer in question. Some stores suspend price matching specifically during Black Friday weekend.

Holiday shopping tip: Don't assume price matching will be available on Black Friday. Your best bet is to ask before you begin to shop.

The same price is not available to all

If you plan to do some of your Black Friday shopping online, you'll want to look out for less-than-impressive sales. Most online sites use browser cookies to track shoppers. Those cookies store information about how you spend money online.

For example, cookies may show that you'll buy an item once it's marked down 40%, but not 30%. Because cookies show you're probably not going to make a purchase at 30% off, you'll receive a 40% off price. However, customers who don't regularly hold out for a low price won't have access to the same low price.

Holiday shopping tip: If you aren't typically a bargain hunter, set your web browser to incognito mode. Incognito mode hides your previous cookies, so you can't be identified by past shopping habits.

It's easy to become overly enthusiastic about grabbing Black Friday deals. However, the goal should be to create a plan and only buy the items that fit into your budget.