You’ll probably have had emails landing in your inbox all month but Black Friday is finally upon us.
Yes, it’s that time of year when many of us scramble to grab a bargain and kick start out Christmas shopping.
According to reports, total Black Friday sales in the UK reached an estimated £12.3bn, up 8.3% on the year before.
But are Black Friday sales really worth it?
Ahead of tomorrow’s rush (November 24th) we look how to avoid getting caught up in the hype and make sure you don’t overspend when you really don’t need to.
1. Do your research
First things first, it pays to do your research before committing to splashing your cash during Black Friday sales.
Remember, grabbing a bargain is only worth it if the product is any good – especially if it’s a big ticket item like a washing machine or TV.
Make sure you check reviews, ask friends and family if they’ve bought something similar and check different brands 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 wary of unusual brands
We know we always encourage you not to be a brand snob when it comes to shopping but stick with us on this one… Black Friday can be the exception to the rule, particularly if you’re planning to spend a lot of money on a product.
Before getting caught up in a cheap deal, make sure you check the reviews, because not all brands are created equal.
Take televisions, for example, you may see some dirt-cheap deals over the next few days, but they may be from brands you’ve never heard of.
While these may be perfectly fine, they may not have the same shelf-life as some other better-known brands. So, before taking the plunge in investing in a lesser-known brand, do your homework first.
3. Check the returns policy
This is a big one! Make sure you always check the returns policy.
Remember, it may differ depending on how much discount is applied and importantly how you buy it.
If you purchase something in store, you can only return non-faulty goods for a refund or exchange if the company has a policy in place. Believe it or not, there’s no legal obligation to have one by law in the UK!
However, 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. Review the price history
Before you get caught up in the hype of Black Friday, it’s important to remember to take the ‘deals’ on offer with a pinch of salt.
Research by Which? Has found that only 2% of the products in last year’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. Only buy what you really need
Let’s be honest, sales are captivating – especially Black Friday and Cyber Monday.
Companies and brands begin to build a hype around the event earlier and earlier every year, making it easy to stir shoppers into a frenzy.
Of course, that doesn’t mean to say you shouldn’t keep an eye out for genuine bargains. Just remember to go into this weekend with a plan, and potentially a budget, to help you avoid overspending.
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