It may be the start of a new week but you’ll still find plenty of Black Friday sales as the event goes online for Cyber Monday. It can be easy to get swept up in the shopping frenzy and end up out of pocket – instead of bagging a bargain. The vast majority of Black Friday or Cyber Monday offers can be found even cheaper – or the same price – at other times of the year, consumer group Which? has warned.
We’ve spoken to some experts who have shared tips on how to shop both Black Friday and Cyber Monday sales without getting ripped off. Make a list and stick to it – “It’s only a deal if it’s something you genuinely wanted or needed before seeing the discount,” said Sarah Johnson, director of merchandise consultancy Flourish Retail.
She recommends making a list and budget to stick to in order to avoid impulse buys. “Make the deals work for you by using Black Friday to save on products you already planned to buy,” she said. “If you stick to your list and stay within your budget, you’ll maximise your savings without unnecessary splurges.”
Compare with past prices – “When looking to make a purchase, it’s worth comparing the price at multiple retailers,” said Harry Rose, editor of Which? Magazine. “That way you’ll know a good deal when you see one.”
Search for second-hand – If you spot something you want to buy in the Black Friday or Cyber Monday sales, search for it on a second-hand platform where you might find it even cheaper, says resale influencer, Jess. Many resale platforms give you the option of offering a price that matches your budget, she said.
Beware of debt – If you end up paying interest, this could outstrip any savings made on the promotions. Using a typical credit card to make a £300 purchase, then paying back at £20 a month would take more than a year to pay off and mean having to pay £55 in interest, according to the financial information service Moneyfacts.
Check for scams – Criminals use the hype around Black Friday and Cyber Monday to try to steal from online shoppers. Purchase scams are when someone is tricked into sending money via a bank transfer to buy something – often advertised online or via social media – that doesn’t exist. The number of purchase scams soared by 29% around Black Friday and Cyber Monday last year, according to analysis by Lloyds Bank.
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