close
close

first Drop

Com TW NOw News 2024

How to recognize a deal and not get ripped off
news

How to recognize a deal and not get ripped off

Reuters Woman with shopping bag walks past a store full of posters advertising Black Friday dealsReuters

It may be Saturday, but there are still plenty of Black Friday sales as the event continues into the weekend.

It can be easy to get caught up in the shopping frenzy and end up out of pocket – instead of bagging a bargain.

The vast majority of Black Friday offers are cheaper or the same price at other times of the year, consumer group Which one? has warned.

We spoke to some experts who shared tips on how to shop on Black Friday without getting ripped off.

Make a list and stick to it

“It’s only a deal if it’s something you really wanted or needed before you saw the discount,” says Sarah Johnson, director of merchandise consultancy Flourish Retail.

She recommends making a list and a budget to stick to, to avoid impulse purchases.

“Make the deals work for you by using Black Friday and saving on products you were already planning to buy,” she said.

“If you stick to your list and stay within your budget, you will maximize your savings without unnecessary expenses.”

Compare historical prices

“If you’re looking to make a purchase, it’s worth comparing prices across multiple retailers,” says Harry Rose, editor of Which? Magazine.

He also recommended using websites where you can check a product’s price history over the past twelve months.

“That way, when you see one, you know a lot,” he said.

Which one? examined deals on 227 products at eight of the UK’s largest home and technology retailers during last year’s Black Friday fortnight between November 20 and December 1.

The research found that nine out of ten deals analyzed were the same price or cheaper at other times of the year.

Mr Rose said you shouldn’t “feel pressured to spend too much money on Black Friday purchases, as these deals are usually repeated – or even beaten – at other times of the year”.

Search for second hand

Vivien Tang is pictured smiling in a gingham dress next to a wood-paneled wall

Influencer Vivien Tang says it’s easy to find new items on resale sites

If you come across something you want to buy during the Black Friday sale, look for it on a second-hand platform where you might be able to find it even cheaper, says resale influencer Jess.

Many resale platforms allow you to offer a price that fits your budget, she said.

“If you make an offer and it’s reasonable, most sellers will accept it,” she said. “So not only are you likely to get a good deal because it’s not new in a store, but you can also offer a lower price.”

Vintage clothing influencer Vivien Tang also buys and sells through resale websites.

“I think it’s very easy to find almost new or brand new items on second-hand platforms,” she said. “The condition option on offers is now required, so it makes it easier to filter for newer items.”

If you’re using the Black Friday sale to buy Christmas presents, you shouldn’t rule out buying second-hand, according to a new report.

About 63% of people would enjoy receiving second-hand Christmas gifts and a further 26% were neutral to the idea, according to a survey by research consultancy Retail Economics for second-hand marketplace Vinted.

Beware of debt

Many people use a credit card or use their overdraft when buying what they consider bargains on Black Friday.

But if you end up paying interest, it could outweigh the savings on the Black Friday promotion.

If you used a normal credit card to make a £300 purchase and then paid back £20 a month, it would take over a year to pay off and would mean paying £55 in interest, according to the financial information service Moneyfacts.

Using an overdraft would usually lead to an even higher interest charge.

A credit card offers more protection for purchases of anything over $100, so you’re more likely to get a refund if something goes wrong.

Financial experts say paying off a credit card immediately, perhaps from savings, before interest accrues, is the safest option.

Check for scams

Criminals are using the hype surrounding Black Friday to try to steal from online shoppers.

Purchase fraud involves tricking someone into sending money via bank transfer to buy something (often advertised online or via social media) that does not exist.

According to analysis from Lloyds Bank, shopping scams increased by 29% around Black Friday and Cyber ​​Monday last year.

The bank’s fraud prevention director Liz Ziegler said: ‘When shopping online, the best way to stay safe is to buy from a trusted retailer and always pay by card for the best protection. should be a big red flag that you are about to get scammed.”

You should be wary of fake websites and check that the web address is the official brand before entering any financial or personal information, according to Which?.

Beware of posts from newly created social media accounts or links to a recently created website. You can use verified domain checkers to confirm when a website was created. Which one? said.

It warned against buying at ‘too good to be true’ prices, because if something seems too good to be true, it probably is.