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Black Friday Shoppers Overpaid 11% on Amazon Compared to Other Retailers
A six-month price analysis of top holiday products shows that Black Friday / Cyber Monday week really was the best time to shop. And some of those prices have stayed low — bargain-hunting shoppers need to know it’s not too late!
Since launching last year, Capital One Shopping has grown to a community of 1.5 million shoppers who share prices, coupons, and better offers found in real-time while they shop. We wanted to be able to show consumers how prices change before, during, and after Black Friday. Is it really the best time for deals? How much do you really save by waiting until Black Friday?
To find out, we created the “Capital One Shopping Holiday Price Index.” The index is an average of the prices of 59 top holiday gifts. Prices for each product were tracked from April 24-December 3, both for Amazon, and from Capital One Shopping’s vetted list of thousands of e-commerce sellers, including major retailers, brands, and other small retailers. Our findings are an exclusive, first-of-its-kind window into Black Friday pricing.
Yes, Black Friday Means Big Savings — But Prices Start Dropping in August
Our analysis of prices found on Amazon and from Capital One Shopping’s sellers, shows a clear decline in the prices of top holiday gifts beginning in late summer. The most drastic drop happens during Black Friday week, but shoppers still pay less in October than they will in July.
Amazon Shoppers Overpaid For Electronics And Even Amazon Products
Our analysis of Black Friday deals showed that people who only shopped on Amazon overpaid across every category we tracked. Overall, Amazon prices were 11% higher than shoppers could have found at other retailers.
Shoppers who used the Capital One Shopping extension to find prices on other trusted retailers could have saved an average of $108 on TVs, and $20 on electronics.
Some of the biggest savings available were on the Samsung 60-Inch 1080p Smart LED TV ($448.52 average savings), the GoPro HERO5 Black ($73.85 average savings), and the Bose QuietComfort 35 Wireless Headphones, Black ($69.52 possible savings).
Amazon shoppers who bought Amazon’s own products might be surprised to learn they also overpaid — Capital One Shoppers found cheaper prices on other retailers. The average Black Friday week price for the Echo Dot (2nd Generation) was $38.52 on Amazon, but $33.08 via Capital One Shopping — a 16% savings.
The Fire tablet (8 GB version) was selling for $38.50 on Amazon, but $35.36 via Capital One Shopping & eBay — a 9% savings. And even the new Echo Show was available for lower prices elsewhere — $209.47 on Amazon, $191.24 via Capital One Shopping & eBay, a 10% savings.
Good Deals Are Still Out There!
Even though Black Friday week is over, many products are still priced lower than they are during the rest of the year. Among the top deals available on Amazon are the Echo Dot (35% savings), the Xbox One S (22% savings) and the HTC VIVE (14% savings).
These may be the best prices consumers will see on these products until the 2018 Holiday season. They should make sure they’ve added them to their gift list — or buy right now, just to be sure.
The Capital One Shopping Holiday Index is made up of 59 holiday products prominently featured in retailer circulars, online ads, and gift guides. The index is the average of the 59 product prices, as found by Capital One Shopping’s community of users since April 24.
How Do Prices Change Leading Up To The Holidays: Capital One Shopping tracked the average price of each product, week-by-week, throughout the year. The average price of all 59 products is shown on the chart.
Which Categories Had The Worst Savings?: Capital One Shopping classified all 59 products into categories, then calculated the average price of the products in each category during Black Friday week (November 21–27).
Which Top Holiday Gifts Are Still Good Deals: For 20 of the most-sought-after holiday gifts, Capital One Shopping compared average price over the past week (November 28-December 3) to the average price between April 24-November 27.