With Thanksgiving right around the corner, The Better Business Bureau of Minnesota and North Dakota (BBB) reminds people planning to shop on Black Friday -- the day after Thanksgiving -- to prepare just as they prepare for their annual holiday feast.
"For many people, Black Friday shopping has become a part of the Thanksgiving tradition," said Dana Badgerow, president and CEO of the BBB. "Our goal is to remind people to look out for their rights while they're out and about looking for bargains."
This holiday season, consumers should be sure to keep these tips in mind:
Budget
Outline your holiday expenditures ahead of time. Along with your list of gifts, include holiday cards, stamps, entertaining and clothing. As you make each purchase, keep a running total to make sure you do not spend more than you planned.
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Comparison Shop
Don't rely on ads that claim to offer the lowest prices. The BBB has secret shopped many companies that make this claim and has determined they do not always have the lowest prices. Comparison shopping is the best way to find the best values.
Restocking Fees
Many consumers are looking for big ticket items for holiday gifts. Ask the store if they charge a restocking fee if the product is returned. Many stores find it necessary to charge these fees to cover the loss of revenue if they can no longer sell the item as new.
Return policies and refunds
Ask for the store's return policy before you make your purchase. Companies are not required to give you your money back, but they need to post their return policy prominently near the cashier. Save your receipts in one place so you don't lose them. Many companies are tightening their return policies and will most likely require you to produce a receipt for a return. Ask for a gift receipt and tape it on the inside of the gift box to make returns easier for family and friends.
Gift cards
New federal rules governing gift card sales went into effect earlier this year.
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Those rules state:
- An inactivity fee cannot be charged until the card has not been used for 12 months.
- Gift cards cannot expire for at least 5 years.
- No more than one fee (of any kind) can be charged to the cardholder in a single month.
- Information printed on the card must disclose fees and expiration date and provide a toll-free phone number or website where you can get more information.
- A one-time fee can be charged when you buy the card, though this generally only applies to gift cards purchased through your credit card company -- not those purchased directly from stores and restaurants.
These new rules do not cover re-loadable cards, such as prepaid phone cards or debit cards from the big credit card companies. Rebate and loyalty reward programs are also exempt. If you receive a gift card, you should redeem it promptly if possible.
Getting the real deal
Do you know if a sale is really a sale? Many times companies boast "70 percent off," but 70 percent off what? If a company is advertising a "Going out of Business" sale, don't assume they are offering the best price in town. Check the price on the same items at other stores.
Search for Black Friday Ads ahead of time
Newspapers often have coupons that give discounts for Black Friday. Black Friday ads are also posted on the Internet. Some sites post ads for Black Friday before they are published. This might help you plan where you will shop and for what items.
Check out the company
If you are shopping with a company for the first time, take a minute to contact the BBB at 1-800-646-6222 or visit www.bbb.org to obtain a report. Better Business Bureau Reliability Reports have been optimized for smart phones.
