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The annual Black Friday sales are upon us once again, but it can be easy for shoppers to get carried away with the discount frenzy and end up overspending. Consumer group Which? has issued a warning that the vast majority of Black Friday offers are no cheaper than prices found at other times of the year. With this in mind, experts have shared their tips on how to bag a bargain without being ripped off.
Sarah Johnson, Director of merchandise consultancy Flourish Retail, urged shoppers to make a list and budget, advising that it is only a deal if shoppers genuinely want or need the item before seeing the discount. “If you stick to your list and stay within your budget, you’ll maximise your savings without unnecessary splurges,” she said.
Harry Rose, editor of Which? Magazine, recommended comparing prices at multiple retailers and using websites that allow shoppers to check a product’s price history over the previous 12 months. Last year, Which? investigated deals on 227 products at eight of the largest home and tech retailers during the Black Friday “fortnight” between 20 November and 1 December. Nine in ten of the deals analysed were found to be the same price or cheaper at other times of the year.
Jess, a resale influencer, recommended searching for a product on a second-hand platform to save even more money. Many resale platforms give shoppers the option of offering a price that suits them. “If you make an offer and it’s reasonable most sellers will accept,” she said. Vintage clothing influencer, Vivien Tang, agreed, saying that it is “very easy to find almost new or brand-new items on second-hand platforms.” A recent survey by research consultancy Retail Economics for second-hand marketplace Vinted found that 63% of people would be comfortable receiving second-hand Christmas gifts.
Consumers are warned not to fall foul of debt by using overdrafts or credit cards, particularly as interest payments could outstrip any savings made through Black Friday promotions. Experts recommend paying off credit cards immediately and from savings if possible, as this is the safest option.
Finally, shoppers are warned to be aware of scams. Fraudulent websites are trying to trick people into handing over money for items that don’t exist. The number of purchase scams increased by 29% around Black Friday and Cyber Monday last year. To stay safe, consumers are advised to buy from trusted retailers and always pay with a credit card for greater protection. They should also be wary of fake websites and check the web address belongs to the official brand before entering any personal or financial information
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