Holidays are special events for families, but these are perfect earning opportunities for businesses as well. Retailers, for instance, time their sale events or seasonal discount offers during special holidays, such as Thanksgiving Day and Black Friday. They understand that consumers need plenty of items during these times of the year, and they use this opportunity to sell their products or services.
Household expenses tend to skyrocket during the holidays. They buy gifts, ingredients, and decorative items, among many others. This is especially true during Black Friday when many retailers offer their products at discounted prices. Anything from household items to personal care and automotive products can be bought at a fraction of their original costs.
An analysis of previous Black Friday deals in 2017 showed that most products were either cheaper or had the same price at previous times of the year. This means not all discounted products you see are really discounted. You need to be meticulous when checking or testing products on the shelf.
Experts investigated almost nine out of 10 bargain offers during last year’s Black Friday. It revealed the analysis to guide consumers in making the right purchase decisions not only for the upcoming holiday but also ahead of the Christmas season.
Consumer’s Due Diligence
If you are planning to buy a new smartphone or computer during this Black Friday, it pays to do your own research on a product’s price history. Buyers should visit price-tracking websites that provide information on products from online retailers. You could also set up price alerts on your phone.
Those who are thinking of buying a new device should consider a smartphone or mobile computer repair service first. Sometimes, it is better to repair a defective product that is still relatively new and fixable, instead of simply replacing it with a new one immediately. However, be careful when choosing a service centre to avoid hidden charges and ensure the quality of work.
The cheapest way to own a new mobile phone would require you to buy just a SIM-only deal. This saves you money by avoiding a lock-in contract, which normally lasts for 24 months. It also provides you with flexibility on choosing the mobile network, so making the switch is easier in case you prefer a different service provider.
Lock-in contracts also require a credit check, but an outright purchase lets you avoid that as well. For instance, a direct purchase of a 64-GB iPhone XR from Apple may cost £749 with a SIM card, compared to a standard lock-in contract that may cost between £1,205 and £1,472 over two years in some authorised dealers or retailers. If you have the money, it is more cost-effective to buy a phone upfront, as you will only need to deal with a one-time payment.
The analysis does not generalise that all deals for Black Friday are bogus. Many deals are legitimate and you can find them if you are patient enough. But you should be more aware of marketing tactics, especially during the holiday season. How do you plan to save on your purchases for the remaining weeks of 2018?