With Black Friday and Cyber Monday comes the chance for consumers to land a bargain. But along with so many reductions in product prices come just as many warnings that all is not necessarily what it seems.
Increasingly, buyers are being urged to double check before they buy – both for their own needs and their own security.
There’s also a wider conversation around affordability and people spending what they can reasonably pay back, if they are using credit cards or buy now pay later deals, to ensure they don’t get trapped in a new year cycle of debt.
With that in mind, here are five tips and warnings from experts around what to do – and not do – as Black Friday deals crop up.
Make sure you really want that deal
Buyer’s remorse: when you regret that impulse purchase soon after the money has left your account.
Research from TrustPilot suggests around £5bn in unplanned impulse purchases will be made by British buyers this Black Friday weekend, after one in three did so last year with an average spend of more than £250 each.
And yet, a quarter of those are predicted to cause buyer’s regret – totalling £1.27bn wasted.
That includes items buyers didn’t need, which didn’t match their expectations or was deemed to be a waste of money. Make sure you know what you want beforehand and stick to that list where possible.
Extensions are your friend for an added bonus
It’s not just about not spending when you don’t need to – it’s about using tools to maximise the purchases you do make.
Using cashback sites like TopCashback and Quidco is an underrated way to make your money go further during Black Friday and beyond, says The Independent’s consumer writer Molly Greeves.
“These websites essentially pay you to buy products through them – for example, when you shop on Boots by clicking through the TopCashback website, you can currently get 20 per cent of what you spend credited back to you,” she explains.
“Once you’ve signed up to TopCashback or Quidco, you can download their browser extensions, which makes the process of earning cashback virtually effortless. Then, when you shop online, you’ll see a pop-up letting you know when you can earn cashback. Click through and the cashback should be credited to your account – easy as that.”
But should is the key word here, Greeves cautions.
“Try to think of cashback as a bonus rather than a guarantee, as sometimes tracking problems can prevent your money from being credited.”
Beware the ‘fake deal’
Most online shoppers will know by now: what says “reduced” isn’t necessarily the case.
Websites have to abide by rules on what most recent prices were but if the higher price was only there for a couple of months before being reduced back down to the previous level, it’s not a particularly great deal.
To get around that, shoppers can use Google’s price history function to show what are effectively fake deals, says search specialist Andrew Witts from Studio 36 Digital.
The hidden Price History tool is one of the easiest ways to spot fake Black Friday deals. You search for a product, click on the Shopping tab, select the item and look down the page at Price History. It can instantly show whether a price has genuinely dropped, or if the retailer did the aforementioned prior increase.
“Fake sales are everywhere. The price history tool is the fastest way to expose them,” says Witts.
You can also see similar features in the Microsoft Edge browser – click the three dots in the top right corner when you’re on a product page, go to ‘more tools’ and hit the ‘shopping’ option.
Double check emails for scams
One now which is easy to get caught out with if you’re doing lots of shopping, or if multiple people shop on the same account.
Fraudsters are “using AI to spin thousands of hyper-personalised phishing scams,” says Jonathan Frost, of banking safety firm BioCatch.
These can include “fake ads, extreme discounts, shipping alerts and refund notices that look indistinguishable from the real thing” he adds.
Take an extra minute to ensure anything you’re about to click on is from a legitimate site, is something you know you’ve ordered and paid for and isn’t just a blind sell to point you to something you wouldn’t previously have been looking for.
Last-minute shopping could see you miss out
Now the other side of the “don’t act too quickly” argument – it’s well established that some prices do indeed go up after Black Friday.
Last-minute Christmas shopping can see buyers pay prices up to 18 per cent higher, suggests recent research by customer agency Gekko – at least when it comes to some electronics.
However, the same research showed that discounts for things like air fryers were actually cheaper before Black Friday – which simply highlights the importance of having your list pre-prepared, keeping an eye on the products you’re keen on and getting them when you’re happy with the price, rather than reacting to highlighted discounts and making your purchases based on them.
To read the full published article by The Independent, click here
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