Black Friday for some has slowly grown into its own exciting tradition. It is that time of the year when most people seem to hold their breath, waiting for those unbelievable specials that have everyone talking.
From all over the country, shoppers are already gearing up for what has become one of the biggest shopping weekends on the calendar. This year, the big day falls on November 28 and as always, expectations are sky high.
We live in a time where every Lilangeni counts, so people are wisely waiting for Black Friday to make those bigger purchases or to spoil themselves with items that hardly ever go on sale.
For some shops, deals usually pop up long before the actual date, with some stores kicking off their Black Friday promotions as early as the first week of November. Whether you are eyeing new appliances, festive outfits, groceries or gadgets, this is the season when the bargains come out to play.
Black Friday also officially signals the start of the festive mood.
Shops open early, queues stretch across parking lots and the excitement is almost contagious. However, as much as we love the hype, not every deal is as good as it looks.
This is the season where being a smart shopper pays off. Planning ahead, comparing prices and knowing exactly what you want will help you avoid impulse buys that feel good on the day but painful at month end.
So, the big question remains: Is Black Friday worth it? For the prepared and patient shopper, absolutely. Just remember, the best deals favour those who go in with a plan, a budget and a clear idea of what they need.
Here are five tips you need to know before you splurge on the biggest shopping day of the year
Determine wants vs needs
It is important to be able to distinguish between something you need or want. Experts also emphasise that delaying a purchase until you are confident you can afford it after you have thought it through and it is within your budget. To do this, you need to know if an item is truly discounted or if the base price was inflated before the discount was applied. This process requires some homework.
If you want to buy a new TV, monitor the average price and compare prices online and in-store so that you have a benchmark. That way, when it goes on sale, you know just how much you are saving – if anything.
You should also budget for these items to avoid overspending
It is important to spoil yourself every now and then as it allows you to feel a sense of accomplishment and freedom. However, create a budget plan in order to avoid bad debts which you may end up regretting later. It’s still important to plan and save for these purchases so that you can enjoy them without guilt or the long-term consequence of paying off the interest incurred if you bought the item on credit. True freedom is being debt-free.
Don’t be conned
Many retailers try to get rid of unwanted stock, pushing brands that have not performed well during the year. Knowing what items cost before Black Friday will help you point out if an item is actually a discounted deal or not. Consumers need to keep in mind that retailers tend to raise prices above the usual asking price and then market aggressively to create a false sense of urgency and cloud their judgement, so they will buy impulsively.
Choose when and how to shop
Many retailers hype up the idea that the best deals are found in-store, but there will be many major deals online too. This allows you to choose when and how you shop.
Keep this in mind, as it’s likely to be one of the busiest Black Friday seasons ever.
Also, make sure to try out online shopping which gives you the opportunity to save items in your Wishlist or cart before checking out. This way, you can think carefully about each purchase and compare prices with other retailers.
Know your current money situation
Safeguard your financial health by taking stock of your current financial situation. An overall view of your finances will give you an idea of whether you should shy away from inviting ‘sales’ this month or how much you can spend on Black Friday.
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