Savvy Black Friday shoppers should pay attention to products’ final price, not just how much they’re supposedly saving.

That’s the takeaway from a new report released by Vancity Credit Union, which warns some major U.S. retailers inflate prices before Black Friday and Cyber Monday to make discounts seem deeper than they actually are.

Mo Ladak, vice-president of member services for Vancity, said shoppers should always do their homework before getting swept up in what seems like an exciting deal.

“They see these big signs saying 50, 60, 70 per cent off, but we’re just encouraging our consumers and members to look at the final price,” Ladak said.

Despite what the report calls “mounting evidence” of questionable sales tactics, a survey of Lower Mainland and Victoria residents suggests the vast majority of people believe they’re getting a real steal on Black Friday.

Ninety-four per cent of respondents said they believe Black Friday prices are lower than the rest of the year, by an estimated average of 23 per cent.

Seventy-six per cent said retailers are making less profit or losing money on Black Friday sale items.

But apart from a few door-crasher specials and other scattered savings, Vancity claims much of the Black Friday phenomenon is mere hype.

Ladak said there are some legitimate deals on big-ticket items, and shoppers can find them if they do a little homework about how much products normally cost.

“There’s some great deals to be had out there, whether it be on Black Friday, Cyber Monday, or any other shopping period,” he said. “Take your smartphone with you, do your research, and look at the final price rather than the perceived savings on the product.”

The Vancity report, titled “White Lies on Black Friday: Pricing Integrity in Black Friday Sales,” focused exclusively on major U.S. retailers. North of the border, Vancouver businesses assured there will be legitimate deals for people shopping at smaller, locally-owned stores.

“It makes such a big difference for the owner to be standing there and giving that discount to people,” said Jane McFadden of the Kitsilano-4th Avenue Business Improvement Association.

“We’re not necessarily looking for that 60 per cent off deal, we’re looking at 20 per cent off that brand we really like or supporting that retailer that we go and see all the time anyway.”

With a report from CTV Vancouver’s Penny Daflos