5 Ways to Land the Best Black Friday Bargains

Cash-strapped consumers may be shy to spend this holiday season, but as money-losing retailers slash prices in order to turn a profit, Black Friday could prove to be one of the best opportunities to save.

Bracing themselves for a tough holiday shopping season, retailers started rolling out sales as early as October this year. And while early sales offered significantly slashed prices, Black Friday will include even steeper discounts on a wider variety of products, says Gerrick Johnson, an equity retail analyst with BMO Capital Markets.

An estimated 49 million people plan to hit the mall this upcoming weekend to take advantage of those sales, according to a survey released Tuesday by the National Retail Federation, an industry research group. Whether those crowds will buy much is another matter entirely. Even though analysts expect deep discounts of up to 70% on some items, Black Friday sales are expected to inch just 1.2% higher this year, according to market researcher BDO Seideman.

While it may seem like a buyer's market, shoppers should steel themselves for some decidedly tough competition. The sluggish economy has helped pinched consumers hone an almost laser-like focus on nabbing only the very best deals on everything from flat-screen TVs to hot holiday toys. To help you beat the crowds and walk away with the best deals this Black Friday, try these five tricks:

Confirm the sales

So you think you're ahead of the game. Days before Black Friday, you scoured all of the leaked ads you could find online at sites like BlackFriday.info and BFAds.net, and created a finely-tuned shopping plan. Well, don't get too cocky. Retailers may change their sales lineup, or, worse, that leaked ad may only apply to, say, stores in Ohio. Plan to double check your findings on Thursday by looking for the legitimate ads on the specific retailers' sites or in your local newspaper, says Dan de Grandpre, founder of Dealnews.com, an online consumer guide.

Price compare

Not every Black Friday sale is better than the current deals. Before you hit the stores, look up the going rate on items you plan to buy by visiting price-hunting search engines like PriceGrabber.com or NexTag.com. NewEgg.com, for example, has the Canon (CAJ) SD1100 for $150 — $10 cheaper than Amazon.com's (AMZN) or Dell’s (DELL) listed Black Friday prices, according to deal site BFAds.net.

Pick your plastic

At some retailers, extra discounts and exclusive coupons are doled out for paying with a store card or a regular credit card. (Click here for more details.) American Express (AXP), for example, offers a coupon for 15% off at F.A.O. Schwarz — that's in addition to the 25%-off sale price the retailer plans to offer on its own line of toys Black Friday. Check with your credit-card issuer and the card brand for deals, as well as the retailer.

Shop on Thanksgiving

Some of the best online sales start Thanksgiving Day. Electronics retailer J&R has a Pre-Black Friday sale with discounts of up to 50% off and free shipping. Sears (SHLD) also announced it would begin select Black Friday sales during the day Thursday.

Of course, you can also stay up late and take advantage of Black Friday sales at the stroke of midnight. That's when KB Toys plans to open more than half of its stores. Many malls and outlet stores under the Simon Property Group (SPG) have a similar plan. Online, Apple (AAPL) will kick off its Black Friday sale with special deals and free shipping.

Know when to wait

“Retailers do a big push for Black Friday, and then keep the sales going through the next week,” says de Grandpre. If it’s not on sale now, it may well be soon — especially toys and high-end electronics. Also, look into the retailer’s price adjustment policy to see whether you can claim a refund on your Black Friday purchases if a better sale price materializes.

Hold off on buying gift cards as well. Many carry fees that kick in after a set period of time, based on when the card was purchased. Buying at the last minute will not only give your recipient a few more weeks’ time before the card begins to lose value, but it will also reduce the risk of losing the entire balance should the retailer declare bankruptcy.