Think you're getting the best deals on Black Friday? Maybe not

Waiting in the cold for hours on Black Friday or making sure you log on right at the beginning of “Cyber Monday” might a cultural tradition for some Americans, but it’s not always a guarantee to get the best deals of the holiday season, according to a report from the Wall Street Journal.

Using price data over the past two years from major retailer’s websites, the WSJ tracked prices daily and found that while American’s still cling to a belief that Black Friday deals are the best possible prices, the data prove otherwise. While retailers do put on major “sales” the day after Thanksgiving, many of the products are actually cheaper when purchased online during September and October. The price deflation during earlier fall months could be driven by a need to compete with online retail giants such as Amazon.com, who have been able to offer lower and lower prices with their growing inventories.

Ann Arbor stores have followed the national trend of opening earlier and offering more aggressive Black Friday sales. The Wall Street Journal’s data did not include in-store sales because there can be strong regional variance and special “blowout” sales on limited numbers of items that are available in-store only.

Prices for items such as a Citizen men’s watch, women’s Ugg boots, a Samsung 46-inch flat screen TV and even a plush Elmo toy were all higher on Black Friday than in previous months. The price of the Ugg boots jumped 59 percent from $85 to $135, which was still below the list price of $159.95.

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Ben Freed covers business for AnnArbor.com. Reach him at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2