Black Friday is designed to create panic, urgency, and temptation among shoppers. Every year, retailers want consumers to go crazy with their money right after Thanksgiving. To do this, there are usually days and weeks of special offer frenzy in the build-up to the big day itself.
Retailers go into the Black Friday period with detailed plans and aggressive sales targets. By flying blind and going into the biggest retail event of the year without a plan of any kind, consumers put themselves at a huge disadvantage.
The good news is that a little planning can easily allow you to turn Black Friday to suit you! Thinking carefully about what you need and set yourself a budget means you will be on the front foot. This article shows you how to avoid bashing your credit card and falling prey to canny retailers!
Be ready for everything the retailers have to throw at you!
Whether you are an online or in-store shopper, be ready for everything the retailers are going to throw at you during the Black Friday period! From bright, bold promotional advertising to appealing smells and sounds, everything about Black Friday gives the retailers a home-court advantage.
Buying online is so easy nowadays that you should be even more careful. With instant pay and saved credit card details, paying can seem so easy that you can forget about the actual money involved. Bear this in mind when you are putting products in your basket, and consider whether you actually have the budget to pay for what you are adding.
Question why a product is on sale
The old phrase ‘if it seems too good to be true then it probably is’ applies just as much on Black Friday as it does at any other time of the year.
Although this period is all about outrageous offers, retailers are not charities. If an item is reduced by more than 50% and there is lots of stock left, apply extra caution. Paying a slightly higher price for a brand name can seem unnecessary when you are looking at the bottom line, but inferior brands can often break quicker meaning you will pay more in the long run.
Retailers attempt to get around this by offering extended warranties – at the consumer’s expense – to protect against comebacks and product failures. These are also a big money spinner on Black Friday.
Check out some user reviews online before you make your purchase – particularly on electrical goods. This will help you save your valuable dollars by figuring out which less well-known brands are worthwhile and those that are best avoided.
Don’t take the retailers’ word for it
Simply because a huge colorful banner tells you a product is a great price it does not necessarily mean it is. Even though the clock always seems to be ticking on Black Friday deals, let it tick until you have shopped around to verify prices.
Before you go ahead and buy, check out at least a few competitors’ sites and see if you really are paying the bottom dollar.