Saving money on Black Friday …. or not?
What is black friday?
Black friday is the day that a lot of shops give high discounts. It originated in the United States where the day after thanksgiving was the traditional start for buying christmas gifts. Since a lot of people have a day off retailers were trying to lure customers into buying their products by offering high discounts.
Although it started out in the States, more and more retailers over the world are taking advantage of this to increase their sales. The popularity of black friday is increasing exponentially year after year.
But are you really saving money or are you just being manipulated? Let’s find out.
How it works
Retailers try to influence your emotions. Especially during these so-called super sales. By emphasizing that you have to be quick because it’s a limited offer they stir up the fear of missing out.
Even the choice of colours (red and black) isn’t randomly chosen, but contributes to a higher number of sales. Red draws attention, creates energy and increases heart rate. It generates a feeling of urgence.
Are the discounts real?
Many people wonder if the deals promoted as ‘super sales’ are actually as good as they look. Sometimes you see discounts up to 75%. Some people claim the prices of a lot of products are raised in the run up to black friday.
There has been much research on this subject and the opinions differ.
In some cases researchers found evidence of retailers raising their prizes. In other cases the discount was based on the price the vendor advises, not the price it was before.
A conclusion in one of the researches was that one out of 10 black friday offers really is a good deal. These deals have a discount around 20%
Another funny conclusion is that retailers have deals all year long. Most discounts aren’t really better on black friday, they only advertise more and more aggressively around black friday.
My thoughts and tips:
If you really need something, wait until it’s Black Friday because there are some really good discounts, but always do your homework! Check if the price hasn’t been inflated in the weeks before black friday.
Even better is to set a ‘best deal alert’ for the things you want. There are many sites and apps offering this functionality.
Don’t be tempted to buy stuff you don’t really need just because they have been discounted. Those so-called impulse purchases don’t save you money, they cost you money you wouldn’t have spent anyway. Stick to your plan! And a good rule of thumb is always; If it looks too good to be true….it probably is.
Sources:
http://communicatieuitgelegd.nl/marketingcommunicatie/kortingen-black-friday-niet-altijd-echt-waarom-blijf-je-toch-kopen/#more-1401
https://www.consumentenbond.nl/nieuws/2018/black-friday-prijzen-niet-spectaculair-lager
https://www.nerdwallet.com/blog/shopping/retailers-dont-want-you-to-know-about-black-friday/
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In my opinion, the best way to save money is by not spending it on Black Friday!
But if there's something you REALLY need, you can get it with a good discount :)
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I see good deals on Amazon devices on Black Friday and Cyber Monday. I got my current Fire tablet on sale at BF in 2017. I also get things at a discount in Jan/Feb and seasonal sales in August. Why pay full price ifn you don't have tp? I let others do that. Any money saved can be spent on powering uo and staking LEO and HIVE.
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Some products are really on a discount while others aren't. It's somehow of a lottery though because what you've been waiting to buy might not be on the discounts list.
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Cross referencing to one site to another helps as I always do that before I made a purchase online.
Here in our country thought we almost follow the Black Friday and Cyber Monday this doesn't make any friction. Most of us are looking forward on the 11/11 deals and this December we will have the 12/12 and even the 12 Days of Christmas sales.
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