Start early and stay out of the red this Black Friday
If you’re a Black Friday veteran, you’ll know that you don’t have to wait until the designated day to snap up a bargain.
Retailers have been dropping their prices all month, and your inbox and social media have probably been inundated with offers for Black Friday steals because of your past purchases.
For those newer to the annual sales party, if you want something in particular, don’t leave it until the last minute. Although that console or handbag you covet might be a little cheaper if you wait until Friday, November 25, they could all be snapped up by then.
Adding to the frenzied competition are the lingering effects of Covid on supply chains, components and parts. This means there's less of what you want before prices drop.
We’ve rounded up some tips to help get your game face on but, first, a little background on the yearly bonanza.
About Black Friday
Black Friday is an American tradition that signifies the start of the holiday shopping season. Originally a one-day event, it has now expanded across the weekend, into Cyber Monday and beyond - and, of course, well beyond the United States.
The name "Black Friday" originated in Philadelphia during the early 1960s when police officers used the term to describe the chaos around the city on the day after Thanksgiving.
It has grown to become one of the most popular times for shoppers to score great deals on almost everything from clothes and electronics to tools and toys.
But Black Friday is about more than just shopping. It's also a time to reflect, reconnect with family and friends, and express gratitude for our good fortune. For many, it's also an opportunity to support small businesses and entrepreneurs who are trying to make their mark on the world.
But if you're looking for a great deal, keep reading for some tips and tricks that will help.
When do the deals start?
Black Friday sales usually start earlier than the actual day, so keep an eye on your favourite brands and retailers. Deals have been appearing since the first week of November, so if you're looking for something in particular, it might be worth checking out the sales early to get the best combination of availability and price.
Most Black Friday sales will last for the weekend and extend into the following week. Generally, the discounts are pretty big on the actual day (in this case, November 25) and then taper off as the weekend goes on, so if you want to snap up some great deals for Christmas, it might be worth waiting until Friday before making your purchases.
It's also worth waiting for ‘Cyber Monday’ deals, when retailers often offer additional discounts on already discounted items as the weekend comes to a close.
However, many items are sold out long before the weekend’s up, so if you see something you really want at a good price, don’t hold out for a better deal - or you might miss out.
Black Friday 2022 by the numbers
In Australia, Black Friday to Cyber Monday was worth $8 billion in 2021, with an average spend of $377 per consumer — up 8 percent from pre-pandemic numbers.
And the spending splurge doesn’t look like slowing down, despite inflation and a higher cost of living. That’s because it's one of the best times of year to get great deals on items that are otherwise out of reach.
But remember that retailers are still dealing with supply shortages, so it's important to plan and shop early if you want the best deals.
As for whether the fallout from the pandemic will affect the number of bargains to be had, it really depends on where you shop. Some retailers offer discounts that are just as generous as ever, if not more so. Black Friday is when retailers can make up for lost sales and clear stocks at the same time, so there will probably be even more discounts available this year.
Black Friday deals 2022
There are way too many early Black Friday bargains to list here, but here’s some suggestions to get you started:
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- Up to 60 percent off clothing and accessories from ASOS
- Up to $600 off select appliances from The Good Guys
- Up to $2000 off selected TVs from JB Hi-Fi
- Up to 70 percent off selected items from Amazon
- Up to 50 percent off selected items from Big W
- Up to $1070 off on select Apple products from eBay
- Up to 55 percent off select beds and mattresses from Emma Sleep
- Up to 70 percent off selected kitchenware from Kitchen Warehouse
There are plenty of in-store deals to be found, too, if you prefer to shop in person. Check out popular retailers such as Bunnings, Kmart, Myer and Target.
Whether you choose to shop online or in-store will depend on the items you're looking for and your budget. The pros of shopping in-store on Black Friday include getting your hands on items, trying them out and seeing how they look and feel before you buy. The downsides are the long lines, limited stock and potentially large crowds jostling for space (and bargains).
The pros of shopping online include being able to shop from the comfort of home, getting access to more inventory and better deals on certain items. Cons to consider include potential shipping delays, the possibility of items being out of stock before you finish your order and, of course, the never-ending scams.
Ultimately, it comes down to personal preference and what works best for your situation. Whether you decide to shop in-store or online on Black Friday, the key is to be prepared and know what deals are available so you can get the best savings.
Are Black Friday sales worth it?
Absolutely! Since Black Friday is becoming increasingly popular and competitive, retailers are responding with more discounts and incentives to attract shoppers. This means plenty of great deals to be had if you’re willing to research and shop around.
Electronics, appliances, clothing and furniture are among the most popular items shoppers look for on Black Friday. They also enjoyed the highest sales in 2021. However, it really depends what you’re after - it doesn’t have to be popular for it to be a good deal.
Which specific item is worth getting on Black Friday?
This depends on what is being heavily discounted and on your budget and needs. But big-ticket items such as electronics and appliances are usually worth snapping up, as the price drop is so significant.
While Cyber Monday invariably comes with additional discounts that could be worth waiting for, especially tech items, they're usually the leftovers from Black Friday. So if you’re looking for the best deals, it pays to shop earlier on Black Friday.
Black Friday shopping tips
How to make sure you don’t miss out on the best deals
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- Have a good game plan.
- Research the items you’re interested in as early as possible to get a feel for what prices are available and where.
- Compare prices from different retailers to ensure you’re getting the best deals.
- Read customer reviews to better understand what others have experienced with the product.
- Sign up for newsletters and follow social media accounts of your favourite stores, so you get early notice about new deals or discounts.
- Shop early in the day for the best selection, but wait until closer to midnight for unbeatable deals.
- Shop from reputable retailers, whether online or in-store.
- Read the return policy of the store or website you’re shopping from so you know what options are available in case you need to make an exchange or return.
- Check for any additional warranties or guarantees that will give you extra peace of mind.
- Set a budget and stick to it – don’t be tempted by impulsive purchases! Don't be in the red after Black Friday.
- Remember to factor in any taxes and shipping costs when budgeting.
- Avoid using buy now pay later to pay for your items - you’ll end up paying more.
Tips to stay safe when shopping online or in-store
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- If shopping online, use only secure payment methods and know the risks of online payments.
- When buying items on websites you aren’t familiar with, double check their return policies and customer reviews before making a purchase. But don’t fall for fake reviews!
- Be aware of your surroundings and keep an eye out for pickpockets or scammers when shopping in public places.
- Keep your receipts and personal information safe – never give out your credit card details over the phone or to someone you don’t know.
- Double check the item description for any defects or inaccuracies.
Tips to stay safe from shopping scams
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- Don’t respond to emails or text messages offering unbelievable deals. Don't click on the link they send, either.
- Beware of sites that promise too much – if it sounds too good to be true, it probably is!
- Don’t fall for online deals that require you to pay upfront or give out personal information.
- Double check the website address and make sure it is secure (https) before entering your payment information.
Where to get help
Black Friday is a good time to score great deals, but it's not without risk. If you encounter any problems while shopping, don’t hesitate to reach out for help. You can contact the retailer directly, request a refund, or seek advice from consumer protection agencies such as the Australian Competition and Consumer Commission (ACCC).
If you’ve bought a product or service and are unsatisfied, you may be able to make a complaint against the retailer. The first step is to raise your issue with the manufacturer or retailer. If they can’t resolve the problem, you can take it to an external resolution body such as the ACCC.
You can also contact your bank or financial institution if you encounter a problem with online payment platforms. They may be able to help you with things such as fraudulent transactions or chargebacks.
If you’ve bought an item from a retailer located outside of Australia, it may not be covered by Australian consumer protection laws. It is important to check the retailer’s terms and conditions before making a purchase.
However, if you encounter any problems with your purchase, you can still contact the retailer directly and request a refund or exchange. Many are willing to work with customers to resolve their issues. Additionally, you can contact the International Consumer Protection and Enforcement Network (ICPEN) for advice on what to do next. While ICPEN does not resolve individual disputes, it encourages “practical action to prevent cross-border marketing malpractice”.
A year-round offer
We all love a bargain, but don’t be tempted to spend beyond your means. There is so much on sale it is tempting to splash more cash than you can spare, especially with Christmas around the corner. When you write your list, write a budget and stick to it. You’re not really saving much if you’re creating a whole new level of stress when that credit card bill falls due.
And, as always, if you get stung shopping for your Black Friday bargains, get in touch anytime and we’ll help you handle it.
