Black Friday: The day when the daring shoppers of America venture out of their homes at three in the morning to fight off their fellow (wo)man for unbelievable savings. The day that kicks off the retailer's holiday season, providing approximately 20% of annual sales.
However, it seems that these coveted deals may not be as miraculous as advertisers lead us to believe. That beautiful new Samsung TV that you buy for half of the original price may be half of the quality as well. The products are being referred to as "derivative" products and there are a few substantial differences between these products and the original products. In fact, in a 2009 investigation, Consumer Reports highlighted derivative electronics and "found that these products are generally manufactured more cheaply, sometimes with less-expensive components, and that they are generally missing a few features present on the standard models" (Time.com).
If you're worried about purchasing a derivative product, be sure to check the model number. If the product is a derivative, the model number will be slightly different from the model number listed for the original product.
Some other Black Friday deals are questionable as well:
- Beware of store credit cards! Although many stores will dazzle you with extra savings if you sign up for their credit cards, this discount could be taking points off from your credit score, which could be detrimental to you if you plan on applying for a loan in the near future.
- Some of the deals that retailers such as Staples or Best Buy boast about are equal to deals that can be found frequently online.
- Some stores require that you mail in a rebate in order to actually get the deal.
For more information on Black Friday, check out this article from Time.com.
Hopefully these tips will help you have a successful, derivative-free Black Friday!
Happy holidays!
Savvy Student
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