Keep your eyes on the prize -- and price

With the migration of Black Friday and Cyber Monday sales to Canada, shoppers have additional opportunities to lock in savings on gifts for family and friends or a special treat for themselves.

While the sales are tame compared to some of those experienced by our American neighbours, they nevertheless have piqued the interest of many curious shoppers.

You can count me in on the action. I am always on the hunt for a bargain and I enjoy sifting through newspaper ads, flyers and websites or visiting stores to find the best deal possible.

Pre-Black Friday sales were evident at
several Toronto Eaton Centre stores this week.
                      

While I have always been wary of the door crasher, limited quantity and Up to 75% off promotions that some retailers use to drive traffic, I have noticed with interest a rise over the past couple of years deals that offer gift or money cards or coupons of varying amounts that are packaged with special purchases.

On the surface, they sound pretty good. How can you go wrong in getting $60 in gift cards on a $250 purchase. In theory, that represents just under 25% off your purchase. Not bad.

Here's where it gets tricky. I've noticed some major retailers include asterisks that guide you to another page of their flyer with terms spelled out in fineprint that requires a magnifying glass and a second and sometimes third read.

When you process all of the conditions and terms involved, these promotions require another -- and sometimes multiple -- purchases to yield all the savings involved. In many cases, the additional purchases dilute the savings substantially. So, I'm not sure about you but 13% off doesn't really excite me, particularly with extra purchases and funds required.

I've also noticed that another popular sales promotion -- the BOGO (Buy One Get One) -- has also undergone some changes. What originally was a Buy One, Get One Free special -- or in essence, 50% off the collective items -- has been reduced by some retailers to Buy One, Get One for 50% off or in reality, 25% off the two items.

While I realize that retailers are just trying to maximize their profits, the reality is that they are operating in a competitive sector and need to drive sales to keep market share.

If businesses are looking to retain loyal customers or attract new ones, I think it's important that they be very clear and transparent with their pricing and selection upfront. Flashy marketing campaigns or complex promotions may get people in the door or to visit a website but are likely to fail in earning initial or repeat business.

The good news is that some retailers get it. Over the past week, I came across:

• A major sports retailer that offered a $25 instant rebate off a purchase of $100 or more with limited conditions, and
• A national bookstore chain that offered a 25% off coupon over a four-day period that once again featured few and very clear conditions.

In the latter case, lines were long during the lunch hour on a Friday at one of the downtown Toronto locations, demonstrating that customers found the promotion enticing.

So, as you prepare for the onslaught of sales that will continue over the next month, don't be afraid to take a step back and scope out all of the 'deals' that you come across. The extra effort won't only save you some money but also time and aggravation.

Sounds like a great way to ring in the Holidays and New Year.

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Complimentary Bonus Content (Honest! No conditions, no fineprint, no coupons required!)

• Report on BOGO promotions (includes study about Hershey Kisses)
• Montreal Gazette Buyer Beware article
• Toronto Star article on retailers sitting out Black Friday
• Globe and Mail article on struggling Canadian retailers