It’s Black Friday eve!
Yes, it’s that time of year when many of us start our festive shopping with a flourish as we scour the sales in hope of a bargain.
Such is the popularity of the annual event; total Black Friday sales reached an estimated £12.3bn in the UK last year – up more than 8% than the previous year.
But are we really picking up a deal?
Ahead of the big day tomorrow (November 24th) and Cyber Monday (November 27th) we’re sharing tips to help make sure you don’t overspend when you really don’t need to.
1. Research before you buy
It can be easy to buy first, think later when you’re presented with a bargain.
However, it pays to do your research before splashing your cash during Black Friday sales.
A bargain is only actually worth it if the product is any good – particularly if it’s a high value item like a TV.
Before you put your money where your mouth is, make sure you check reviews, ask friends and family if they’ve bought something similar. Don’t check different brands to make sure you’re getting the best product at the best price before handing over your hard-earned money.
Sites like Which? can often be a great place to check out independent product reviews while Trustpilot should be your go-to for company reviews.
2. Be cautious of lesser known brands
It’s not often we’ll encourage you to be a brand snob, but sales like Black Friday can be the exception to the rule.
For many, Black Friday is an opportunity to buy expensive items they maybe wouldn’t purchase throughout the year but remember, not all brands are created equal.
During sales we can often be introduced to brands that aren’t household names. Of course, this doesn’t mean you’re not buying a quality product but it’s always worth doing a bit of research before committing to a purchase.
3. Double check the returns policy
Returns policies can differ depending on how you buy something and sometimes how much discount is applied, so it’s important to be aware of your rights.
If you buy something in store, don’t forget that you can only return non-faulty goods for an exchange or refund if the store has a policy in place. There’s no legal obligation for stores to have this in place by law in the UK so always worth double checking before buying. It’s also worth noting that refund and exchange policy timeframes can vary per store as well!
Shopping online is different. You’ll have 14 days from the date of delivery to cancel an order and then a further 14 days to return it for a full refund.
Importantly, regardless of where or how you shop don’t forget to look out for extended returns over the festive period.
4. Check the price history
Just because something’s in the sale this weekend, it doesn’t mean it’s the best deal you could get.
According to Which? research, only 2% of products in 2022’s Black Friday sales were cheaper than at other times of the year.
Experts analysed more than 66,000 prices in the six months before and after the event to see how their sale prices compared, revealing that 98% were the same price or less at other times of the year.
Sites like PriceRunner can help you compare prices of millions of products from thousands of companies.
5. Don’t buy what you don’t need
There’s always a hype around sales – especially Black Friday and Cyber Monday – but don’t let the thrill of the marketing force you to spend what you don’t need.
The event begins a little earlier year after year so it’s easy to get caught up in the moment but don’t forget, a bargain is only worth it if you needed it in the first place.
It’s a good idea to go into this weekend with a plan, and importantly a budget, to help you stay on track and avoid overspending.
