By Hadas Kuznits

PHILADELPHIA (CBS) – With Black Friday just a week away, what do we need to know about those holiday sales? 

Dr. Richard Lancioni with the Fox School of Business says if you want to get a great deal on Black Friday, do your research.

Lancioni says, “The best way to know is to be aware.  In other words, to know your prices and to be able to compare that to what the list price is.  If you know your prices and you can look at the discounts that are being offered by the store, then you’ll know it’s not a scam, that it’s real.  So buyer beware!”

He says stores are expected to offer deep discounts next week, the goal is to get you into the store so that you’ll buy more.

Lancioni says, “About 40 percent of what they purchase is unplanned or impulse and in toys you’ll get as much as a 30 to 40 percent level of goods in your basket that are unplanned because you’re buying for your loved ones, especially your children.”

He says if you’re on a budget, make a list and stick to it — and no matter how good a sale is, Dr. Lancioni warns, don’t buy anything that you can’t return.

Reported by Hadas Kuznits, KYW Newsradio