Black Friday and Cyber Monday rile up consumers every year. The “holidays” are a shopper’s dream and represent a financial boon to retailers.
What tech deals are out there this year for consumers?
John Joyce, co-owner of CRS Technology Consultants, recently appeared on ABC7’s Tech Bytes to offer his perspective on Black Friday tech deals in 2024. His opinion likely bucks the trend of hyping the annual shopping holiday.
“In a lot of cases, hold onto your money,” John advises. “Don’t let the need for a deal drive you.”
In 2024, Black Friday will be held on Friday, Nov. 29. Cyber Monday is slated for Monday, Dec. 2.
Unlike Florida’s Back-to-School Sales Tax Holiday, businesses can – and should – participate in Black Friday and Cyber Monday shopping. Suggestions are at the bottom of this blog.
WATCH
Black Friday history
The History Channel offers a succinct recap of Black Friday’s history, noting its emergence in America’s lexicon in the 1950s and 1960s as a shopping term.
“As the story goes, after an entire year of operating at a loss (“in the red”) stores would supposedly earn a profit (“went into the black”) on the day after Thanksgiving, because holiday shoppers blew so much money on discounted merchandise.”
That story has stuck, but Black Friday has always been about the deal. Consumers love getting 25% or even 50% off all sorts of items… whether we need them or not. The holiday is a great way for both retailers and consumers to kickstart holiday shopping.
Technology became so big that America created another Black Friday just for tech – Cyber Monday.
Over the years, though, Black Friday hours started creeping earlier and earlier, and even into Thanksgiving. People started to revolt at retailers stealing family time. People also got outraged seeing brawls over Tickle Me Elmo, Beanie Babies and Nintendo 64s.
“People started to push back pretty hard because there are real humans on the other side of counter, stocking the shelves, helping the stores open,” John notes. “They’ve got families as well, and we all deserve to have that time and take a deep breath. We’ve seen the physical ‘Black Friday’ expression focus back onto the day, but Black Friday as a concept has evolved into better than a month.”
Consumers no longer must wait until after Thanksgiving to capitalize on shopping discounts and deals.
“My inbox is full of emails that say ‘Early Black Friday Savings,’” John says. “Almost every major retailer is doing something right now.”
Longer sales periods and online shopping have made that one day not quite as important.
Tech deals on Black Friday
John notes consumers might need to reset their excitement about Black Friday. Four major types of technology and electronics – TVs, computers, gaming systems and tablets – aren’t bringing as much to the table in 2024.
“The deals are going to be out there, but what are you getting for those dollars?” John asks. “We’re kind of mid-cycle in a lot of categories.”
That means a lot of newer tech is still in the development phases and won’t hit the market until next spring or summer. Retailers will still discount some products during the holiday season… they just might not be the exact items you want.
“Are the savings more important, or is having the latest, greatest model more important?” John says. “The cheapest option still may not be the best use of your dollars. You may be better off paying a little more, but getting a lot more for your money.”
With most types of technology, newer models generally are faster, sleeker and more powerful. The difference between technology and towels, for instance, is that electronics have a short shelf life. Innovations, especially with the rise of AI, create very short lifespans for certain types of tech products. Therein lies the problem. Retailers typically discount tech products throughout the year for three reasons:
- Manufacturers will be releasing a new generation of that product.
- Something better or faster has already hit the market.
- The product didn’t sell and retailers want to clear shelf space.
“There are opportunities to save; that’s a given,” John admits. “But what’s driving those savings? Retailers and the people who make these products want to make money at the end of the day. Why is it discounted? They’re not just feeling extra generous that day. It’s oftentimes a previous year’s model or maybe something that didn’t sell as well.”
John recommends that tech consumers evaluate how they will use a device before moving forward with a purchase.
“If you’re looking for a basic, around-the-house computer that’s going to get you through a few years, last year’s model will do just fine,” he says. “If you’re looking to buy something once and use it for five, six, seven years or more, I tend to recommend that you go spend those dollars now because you’re going to get more mileage out of it.”
In 2025, manufacturers will launch a multitude of new products, including:
- The long-anticipated successor to Nintendo’s hit Switch console.
- Apple’s MacBook Air (aka the “laptop for everyone”) is slated for an upgrade early in the year.
- Samsung, feeling the pressure of competition in the foldable space, will be updating its Galaxy line of cell phones through the year.
Alternatives to tech gifts
Tech gifts have always been popular around the holidays. In a year lacking much wow factor for tech deals, though, John suggests gift-givers put more thought into the recipient’s interests.
“It’s much more meaningful to say, ‘Hey, what would this person enjoy?’ What do they do as a hobby? What are their passions?”
John suggests finding items or experiences that tie into someone’s hobbies, such as reading, cooking, grilling or exercising. It’s also worth considering subscription boxes containing flavorful coffee, wine or snacks.
“There are other places to spend your dollars than just a physical object,” according to John. “Some of the greatest gifts I’ve ever received or given were things I was able to do with someone, an experience. They still cost money; therefore, you can still find savings, but it doesn’t have to be a thing in a box with a bow on top.”
Suggestions for businesses
Businesses should adhere to their typical procurement procedures when buying major electronics like desktop or laptop computers, copy machines, software and cybersecurity. However, retailers often discount accessories that really don’t undergo as much rapid innovation.
If the Black Friday or Cyber Monday deal is good, businesses and nonprofit organizations should consider purchasing these accessories if needed in the workplace:
- Mouse
- Keyboard
- Thumb drives
- Video calling packages (webcam, lighting and microphone)
- Small kitchen appliances (coffee maker, toaster, etc.)
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