Black Friday is set to take place at the end of this month, on November 28, when many consumers take the opportunity to shop at more favorable prices. However, caution is necessary to avoid being deceived.
The financial education portal EI provides recommendations and tips that can be particularly useful for this shopping season. Stay informed:
1. Monitor Prices in Advance
“If you know the product you want to purchase during Black Friday, start tracking its price at least a month before. Check for price fluctuations and decide if it’s really worth buying. Many of the products available at discounts during this day may have lower prices at other times of the year. For example, summer is a good time to buy appliances and technology items at cheaper prices.”
2. Avoid Impulse Buying on Black Friday
“Make a list of what you truly need and set a budget. Entering a store or visiting a website during Black Friday is an invitation to consume. Don’t let brands get into your head.”
3. Be Skeptical of Very Low Prices on Black Friday
“Some products during Black Friday are priced unusually low. Be wary of these items. Many may have been returned by other consumers or may have some kind of defect.”
4. Read the Fine Print
“Before purchasing a product, find out if you can exchange it in the future. Stores are not obligated to accept returns or exchanges of non-defective products, though many do so as a courtesy or to retain customers. So, think carefully before buying clothing on Black Friday or measure your room to ensure the television fits on the wall.
Although not required, stores usually allow 15 to 30 days for the exchange or return of items. The product must be in the original purchase condition. There are other specific store return policies, so read the small print before buying. Always keep the sales receipt.”
5. Be Cautious of Discontinued Products
“At this time of year, brands are already gearing up for Christmas sales and use Black Friday to offload less successful or soon-to-be-discontinued products. Pay extra attention to everything you buy, especially technology or appliances.”
6. Black Friday: Online Shopping Cautions
“Black Friday is a major day for online shopping. With the increase in transactions, there are more instances of fraud. Criminals use fake emails and ads on social networks or search engines like Google to attract consumers with significant discounts. Many consumers are drawn to fake sites, sharing personal information and credit card details, among others, that are misused. If you’re shopping online, avoid putting your personal data on public wi-fi networks or responding to dubious emails.”
7. Calculate the Total Purchase Cost
“If you’ve decided to make an online purchase, pay close attention to the total cost of the order. Most stores charge shipping fees, which vary according to the size and weight of the purchased products. These charges can result in the total purchase cost being close to or even exceeding the original price of the item.”
