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There are many reports claiming that Black Friday, which this year falls on 25 November, is just an opportunity to waste your money. Others claim it should be banned as it’s nothing but a distasteful profit driven event because of the chaos and fights it causes among shoppers.
But whichever way you look at it, there will always be people that will be drawn in or want to take advantage of the sales offered on that day. If you’re one of those people intent on snapping up a bargain on one of the biggest sales days of the year, it’s possible to find ways to make the most of your shopping spree.
Here are five tips to ensure your shop goes smoothly, according to plan and budget:
1. Identify fake discounts
Consumer website Which.co.uk investigated Black Friday deals in 2020 and found that most of the products (85%) had already been available at the same price or less in the months leading up to Black Friday.
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‘Some retailers don’t give real discounts. Rather, they keep the same prices, but advertise great deals. With some stores, you might even pay more during Black Friday, even though the item you’re interested in is on sale,’ says Jonathan Merry, CEO of BanklessTimes.com.
One way to ensure you know you’re getting a discount is to keep a watch of the product online before the Black Friday sale. If it dips in price on the day, then you know you’ve got a legitimate discount. It may also help to subscribe to the retailer’s newsletter or set up a store account before the sale so you can also get news of discounts and subscriber specific prices.
You can alternatively do your own research. Merry adds: ‘Use a tool like the Wayback Machine and look at a product’s page on different days of the year, or simply track it a couple of weeks or months in advance.’
2. Be careful of unusual brands
During the Black Friday sale, you may come across some unusual brand names you may not have heard of before. But just because these brands claim to have the same features as some of the better-known ones doesn’t mean that they are equal in quality.
Estate Living is in no way saying that every brand you’ve never heard should not be considered. Just don’t buy something on an impulse because it has the same specs as your favourite brand. There is, after all, a reason why certain names are household names. You often can’t go wrong with them!
To ensure you’re getting a good deal, read customer reviews about the brand before you take the plunge and buy the product.
3. Create a plan
Put a plan in place of where you’ll go and what you’ll buy. ‘Have a very clear idea of what you want, which stores have it, and where these items are located. This way, you aren’t going to be wasting time just browsing (which will be impossible anyway, thanks to the crowds). The sooner you get to the right retailer, and the right aisle, the greater the odds of not missing out,’ says Merry.
4. Stick to your budget
Establish what you’re prepared to spend on Black Friday. Ensure you have that ceiling in your mind and stick to it. The sales are tempting but this temptation can lead to you overspending and getting further into debt.
Remember, we live in a different world right now. The cost of borrowing is more expensive because of runaway inflation and the prices of goods and services is getting pricier too so it’s vital to keep your spending in check.
5. Shop online
One way to ensure you remain disciplined on your spending and avoid the crowds in the process is to shop online instead of in store.
‘Many retailers offer exclusive online deals on Black Friday, which can be even better than what’s available in stores. They might have preorders available, special online coupons and discounts, as well as an inventory larger than what you might see displayed at the stores themselves,’ adds Merry.
