That 'sale' item you’ve got your eye on may not be all that it seems. Here’s how to shop smarter during the Black Friday frenzy.
Once upon a time, Black Friday was the sole domain of US retail. It was the one day each year when Americans would finish up their Thanksgiving celebrations and nearly kill each other trying to get their hands on cheap electronics.
It’s since become one of New Zealand’s biggest shopping events of the year too, gradually stretching from one day of sales to a whole week of deals in some quarters.
Despite tough economic times for some, PriceSpy’s annual Black Friday Report suggests people are still planning to get out and buy this year.
It shows some have been postponing major purchases, like appliances or electronics, in the hopes of getting significant discounts on Black Friday.
“At the moment, every dollar counts to people, and if they're going to be spending their money ... they are making sure it can work hard and go further,” said a PriceSpy spokesperson.
But with so many offers and supposed discounts flooding our screens and inboxes over the next week to 10 days, it can be hard to know what’s really a steal.
Here are some tips to keep in mind while checking out the sales.
Research those prices
Like so many things in life, preparation is key when it comes to shopping on Black Friday.
Consumer NZ recommends deciding in advance what it is you want to buy and then getting an idea of how much those items usually cost beforehand.
As well as comparing prices between retailers, you can also look at a product’s price history via tools on price comparison websites like PriceSpy or PriceMe.
These tools show how a particular product’s price has changed over time, helping shoppers identify if the item that is on sale has actually been at a cheaper price at a different time of the year.
It can also help shoppers identify those moments when a price has been hiked up right before the Black Friday “specials”.
Look past the marketing fluff
It pays to keep a cool head when surveying the Black Friday sales and not fall into the trap that everything is a bargain.
It can be overwhelming walking into a store full of signs advertising different deals. It can feel the same when shopping online and seeing little messages like “Selling fast!” or “20 other people are looking at this item”.
As Consumer NZ points out, these sorts of pressure tactics are designed to tempt people into buying things they hadn’t originally planned to.
Instead, stick to your list of items and keep their price histories front of mind.
Check the competition
If you’re planning to buy a big ticket item, it pays to check what price all available retailers are selling that product for.
PriceSpy also recommends showing retailers the price comparison you’ve done on your phone.
“It’s worth going into a shop and saying, ‘I can see your competitors are selling this fridge-freezer for $200 cheaper – can you price match that?’” said a PriceSpy spokesperson.
“It’s worth people asking, because they can make some savings that way.”
Be prepared to walk away
While it can be tempting to swoop in on a Black Friday deal, shoppers should be aware that fake sales do exist.
PriceSpy said if people do spot what looks like a bargain, they should still do their research before handing over their money.
“You’ve got to work out whether [a price] has gone up,” it said.
“Ask yourself if it’s worth buying today or should I wait until next week, because I can see that [the price] will come back down again.”
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