Shopping on Black Friday? Don’t Forget to Do This One Important Thing

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Black Friday is a popular time to shop. Read on for an important step to take if you’re going this route. 

Black Friday is right around the corner. And if you’ve been purposely padding your savings account to take advantage of the big day, then you may be growing more and more excited by the hour.

You might end up saving a ton of money on everything from apparel to toys to electronics by jumping on Black Friday deals. But if you’re going to do a fair amount of shopping that day, there’s one important move you’ll need to make.

Hang on to those receipts

Retailers tend to talk up their Black Friday deals to the point where consumers are apt to believe that they’re getting the best prices of the year. But that may not be true. It may be that there’s a lower price to be had in the weeks following Black Friday. This is especially likely for items a retailer accidentally overstocks.

That’s why it’s so important to hang on to your Black Friday receipts. Many retailers have a price-matching policy where they’ll refund you the difference if a item you buy is discounted within a certain period after your purchase — often, 30 days or through the end of the holiday season.

If you don’t keep your receipts, though, then you may have difficulty getting your credit card refunded or your money back if you see an item you bought available at a lower price. So find a safe place to store your receipts until the holiday shopping season is over.

Look into price-matching policies

A number of popular retailers have generous price-matching policies in place for the 2023 holiday shopping season. Target, for example, has had a price-matching policy in place since Oct. 22. Any item purchased between that date and Dec. 24 is eligible for a price match if the price drops prior to Christmas Day.

Costco, meanwhile, will match prices if an item becomes available for less within 30 days of your purchase. This isn’t a special holiday policy — it’s just the store’s general policy.

It pays to make a list of the stores you’re shopping at on Black Friday, and to then make note of each one’s price-matching policy. You don’t want to run out of time to get your money back because you failed to pay attention to details.

That said, sometimes Black Friday specials will be excluded from a given retailer’s general price match guarantee. Always inquire and read the fine print before making a purchase.

An easy move that could save you big time

You may find that Black Friday 2023 is loaded with spectacular deals. But it still pays to hang on to your receipts in case those prices drop even lower. You really have nothing to lose.

And if you’re worried about misplacing your receipts, take pictures of them and store them on your phone. A retailer may or may not accept a photo of a receipt as proof of purchase. But it’s better than showing up to request a price match without having any evidence to back up your claim at all.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has positions in Target. The Motley Fool has positions in and recommends Costco Wholesale and Target. The Motley Fool has a disclosure policy.

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