The US tradition of Black Friday sales is quickly gaining popularity in Australia, but will you grab a true bargain, or is it just another marketing ploy?
Black Friday sales in the US are traditionally held the day after Thanksgiving, and the Australian equivalent will be on Friday 24 November.
Sales are held across retail categories, but Black Friday sales are mostly known for big appliances such as televisions.
So does it pay to fight your way through the crowds for a discount TV?
Yes and no, according to CHOICE.
Whitegoods expert Ashley Iredale says don’t buy a bargain just because it’s a bargain.
“Generally, it’s worth waiting until an appliance breaks before you buy a new one,” says Mr Iredale. “In short, if it ain’t broke, don’t fix it, or in this case, don’t replace it.”
If you are considering buying something in a Black Friday sale, here are a few tips to keep your spending under control.
Set a budget
That’s a good idea for any planned purchase. It’s tempting to get carried away by the latest shiny new thing – that’s why house auctions work so well – but if you stick to a budget, there won’t be any post-purchase regret. Well, maybe not too much.
Shop around
Don’t go in with the mindset ‘I need a new television’ and then just wander around blindly without a plan. Check out what you want online first by considering the options and then buy.
A good place to start is signing up for newsletters. See what’s in stock, what are the normal prices, and what do the Black Friday sales include.
Also, many Black Friday sales are a chance for the retailer to unload last year’s stock. If you’re happy with last year’s model, go for it, but don’t expect cutting-edge technology at the Black Friday sales.
Don’t waste your time
If you are shopping online and it’s taking a long time, walk away. Chances are, whatever queue you are in is facing massive delays or the site has crashed. Don’t waste any more time and effort. Be realistic about your chances of completing your purchase and if it gets too hard, log off.
Check the fine print
Before you hand over your money or press the ‘purchase’ button, make sure you are clear about the conditions of sale, such as delivery costs.
Many Black Friday sales have a ‘no returns policy’ which is illegal in Australia. You can return any product if it is faulty or not fit for purpose, but not if you have simply changed your mind.
It’s a good idea to keep the receipt and original packaging for a while as insurance if you do need to return your purchase.
How did Black Friday get its name
In Australia, Black Friday is when the 13th of the month is a Friday. In the US, the term has been used since the 19th century for something bad that happened on a Friday. It came into use to describe sales in the 1950s.
The term was used by police in Philadelphia to describe the crowds and traffic associated with the start of the Christmas shopping season, which was the first day after Thanksgiving.
It plodded along as a regional saying for decades until the 1980s when advertisers and marketers latched on to the saying. Eventually, it caught on to be the door-busting sales that began at 4am and sometimes the night before.
From their peak in the late 1990s to early 2000, instore sales results have steadily declined due to online shopping, recessions and retailers spreading their sales over a longer period.
Have you bought something at a Black Friday sale? How much did you save? Why not share your experience in the comments section below?
Also read: Simple and achievable wealth creation ideas for over-60s
