Let's call it Black Thursday

Don’t be so fast to loosen that belt and plop down in front of the TV after Thanksgiving dinner. There’s shopping to do.

Pity the poor retail employee. Not only do these hearty souls rarely get to enjoy an entire holiday off anymore, but now more and more must report for work soon after Thanksgiving dinner. We’ve never seen so many ads for sales at bizarre hours as we have this season.

For the first time, Comp USA and BJ’s Wholesale Club will be open on Thanksgiving day (yes, that's today) itself to give shoppers a jump on Black Friday. At many Chelsea Premium, Prime, and Tanger manufacturers’ outlet centers around the country, stores will open at soon as the clock strikes midnight Thanksgiving night, while the rest begin welcoming customers before the sun comes up Friday morning. Best Buy will open its doors at 5 a.m., but an hour earlier will hand out a limited number of tickets entitling those lucky few to remarkable deals on products like a Panasonic 42-inch plasma TV (model number TH-42PX60U, a Consumer Reports Quick Pick) for $999 -- $1,100 less than the price we cited in our report.

Wal-Mart decided to give its employees Thanksgiving off, but come Friday at 6 a.m., it’s back to business as usual. In an act of showmanship worthy of P.T. Barnum himself, Target hatched a promotion with magician David Blaine, who was hoisted by crane 50 feet above New York City's Times Square and shackled to a three-ringed gyroscope, where he’ll spin in all directions in full view of passersby and try to escape in time to usher in Target’s two-day sale early Friday morning.

With 63 million people expected to hit the malls sometime this holiday weekend, traffic, crowds, and long lines are inevitable. Are the sales worth it? That’s a tough call. Aside from those unbeatable “doorbuster” deals featuring a scant number of must-have products on a first-come, first-serve basis, you’ll probably to do just as well if you wait until the crowds subside a bit. So far this season, there has been a staggering amount of discounting online and in stores, as merchants make a grab for your business before the competition does. The minute one sale ends, it seems, another begins.

If, however, you view shopping as a social activity, a chance to immerse yourself in the holiday spirit and go elbow-to-elbow with fellow bargain hunters, we have a few tips to make your journey more rewarding:

• Before leaving home, visit the retailer’s Web sites for store hours, to download coupons for additional savings, get the scoop on unadvertised specials that won’t appear in any flyer, and learn about return policies and restocking fees. You can comparison shop and check to see if the item you want is available online, possibly sparing you a trip.
• Preview Black Friday specials online Thursday. Chains such as Wal-Mart, for instance, will be sharing a sneak peak at “secret” specials about to be offered.
• Ask if the merchant offers a low-price guarantee. If you’re planning a substantial purchase, like a high-definition flat-panel TV, you’ll have the peace of mind knowing that if the product goes on sale within 30 or so days of purchase, you can get a refund of the difference between what you paid and the lower sale price.
• Order online for in-store pickup. This can be a real time-saver. Circuit City and Sears, for example, allow you to place your order via the Internet, then arrange to pick it up locally. At Circuit City, your order is guaranteed to be ready 24 minutes after you place it. Sears promises your order in 5 minutes of showing your receipt at its merchandise kiosk. If they can’t fill it that quickly, you’ll get a $5 coupon toward your next store purchase.
• Use your store credit card. This is the time of year retailers typically reward customers who use their proprietary charge cards with bonus discounts. The discounts tend to be more generous if you buy online. Macy’s cardholders, for example, can save an extra 20 percent on clothes, shoes, and jewelry when buying online with the Macy’s charge card through Thanksgiving. Just be sure to pay off the balance immediately to avoid finance charges.
• Be wary of zero percent finance offers. The ads say buy now and make no payments until 2008 or so. While the terms seem attractive, be aware that if you miss a payment you may be charged the highest allowable interest rate and the interest may be retroactive to the date of purchase. Some of these offers also require you to pay off your purchase in a shorter-than-normal time period once payments commence. Read all terms and conditions carefully.