How to make the most of Black Friday

For anyone who is not aware of Black Friday, now really is the time to get clued up. Black Friday is traditionally an American sale period which was actually introduced to the UK market thanks to Amazon back in 2010. Each year since then retailers up and down the country and online, have offered a Black Friday sale which year on year becomes a bigger and more spectacular event. Whereas this sale used to take place for one given day in November, many UK retailers are planning on extending periods of reduced price to excite and entice potential customers. The bottom line here is that Black Friday presents a massive opportunity to save money on the purchase cost of a whole host of different items. Given the timing of this event there is therefore plenty of opportunity to reduce the cost of Christmas, if presents are to be brought during the Black Friday Event.

Amazon are once again leading the way this year and are launching their version of Black Friday a whole 14 days before any of the other large online lenders. This means customers could see reductions in prices by as much as 80%. It is important to remember the scale of this event and in 2015 retailers sold an outstanding 7.4 million items at a rate of 86 each second. This means there is huge demand for this particular sale event and each year the phenonium is growing. As consumers then it would be useful to understand how best to maximise our savings and what tricks there are for doing so.

First and foremost if you are looking to make purchases via the Black Friday events, it is important to plan in advance. This means approaching this popular shopping event in a pre-determined manner. In order to do this a sensible starting point is making a list of specific purchases you would like to make and then the different suppliers of these goods which are available. This will mean establishing which outlets are currently offering the item you wish to purchase and either adding it to your ‘basket’ or adding the page to your favourites list. The purpose of this exercise is to ensure you have a quick access point back to the item when the actual sale event commences. In doing so you will be able to immediately see if your item has been reduced in price and if so, a purchase can be made in a timely manner. Avoiding doing this will likely result in some level of disappointment, as the stock availability during Black Friday will and does reduce at a rapid rate. For those of us who favour shopping on the actual high street the key to success is very simple. Arrive early, before the chosen outlet even opens and have clear in mind what it is you a looking for. These style of events and particularly that of Black Friday, attract large crowds which means late arrival can lead to missed opportunities to save money.

On the flip side the other important consideration for the Black Friday sale event or any other sale event of this nature is sensible purchasing. During sales retailers will, whether online or store based in nature, rely heavily on consumers making multiple purchases amounting to high value spending. This means where on a normal day you may purchase an item of clothing for a specific purpose (say a shirt for work use), during a sale and thanks to price reductions, you may buy 7 shirts and numerous other items simply because the ‘deal’ is so good. Ultimately making purchases based on price alone instead of specific requirements may result in two situations. The first of which is that you have spent money, albeit at a reduced rate, on something you do not need and therefore was not worth the money. The second being the obvious point that you may find yourself over-spending during such sales which too leads to the experience being not worth the money.

In summary the Black Friday event which takes place every year does undoubtedly present some superb opportunities to save money. The key to approaching it in a sensible and therefore beneficial manner as a consumer is that of forward planning. This means ensuring only purchases are made for goods and items which you know are needed and being prepared to make purchases quickly when the event itself actually arrives.

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Author: Internal Customer Services Agent