PHILADELPHIA (CBS) — Black Friday is just two weeks away, which means it won’t be long before the busy holiday shopping season gets underway.
And while many stories issue ads promising great deals, Black Friday isn’t always the best day to cash in on bargains.
Waiting for Black Friday to get a great deal on high-tech items? Think again.
“I think the common misconception is that you’re going to get the latest and greatest gadgets at the best deal during Black Friday or Cyber Monday and it simply isn’t true,” said Janet Alvarez, executive editor of Wisebread financial advice website.
Alvarez says strong competition for the newest electronics on Black Friday actually drives prices higher.
“You’re actually better off purchasing those now, when there’s less competition and more supply,” she said.
But if you’re willing to buy an older model, Black Friday and Cyber Monday might be the best time to shop.
“So not the latest model TV, not the latest model phone or tablet, but things that have been around a year or two, you’re gonna get rock-bottom deals on that because the retailers are eager to offload all the product that they have sitting on their shelves,” Alvarez said.
Black Friday is also a good time to shop for appliances.
“Small household appliances, so things like blenders,” Alvarez said. “You can also get good deals on larger household appliances, so if you’re looking for a new washer and dryer that can typically be a good deal on Black Friday as well.”
But if you’ve got any clothes on your gift list, you might want to wait until next month to buy those.
“Clothing tends to be cheapest in mid-December, so if you’re looking for clothing as gifts, look for mid-December at the earliest,” Alvarez recommends.
However, if you want the cheapest prices for winter clothing, Alvarez says you’ll have to wait even longer. You can usually find rock-bottom pries on winter items during the week between Christmas and the new year.