Black Friday: A Con or a Real Bargain?

Credit cards at the ready!

Black Friday is the 27th November 2020 . Many of us relate to this day as absolute hell, many of us do not care about this day and many of us do. Some people believe they will seek a bargain and some people believe it’s an absolute con and nothing is really discounted.

Everyone has seen the shocking videos of the queues to get into shops, the fighting over items that have been heavily discounted and the overall chaos. Let’s begin with where the name “Black Friday” originates. There are a few stories that talk about where the name could have come from:

1. The day after Thanksgiving, the shops had huge sales and people flogged to the streets to grab a bargain. Shopkeepers recorded losses in red and sales in black, so due to the successful sales that they would have made major profit hence creating a Black Friday.
2. Back in the 1950’s, the day after Thanksgiving there were large crowds of tourists as well as shoppers to watch the Army-Navy football game. This created hell for police in Philadelphia and the term “Black Friday” was born.
3. A not so nice story is that “Black Friday” was named back in slavery times. The day after Thanksgiving, slave owner and traders would sell their slaves at discounted prices to plantation owners for help in winter.

Black Friday came to retail stores in the United Kingdom in 2013. Personally, I have been a Black Friday shopper for many years. I am an absolute lover of a bargain but have been doubting the extent of the “deals” I am buying in to. In fact, research found that only only one out of twenty items is cheaper on Black Friday in comparison to the rest of the year.

So, how much of a con is Black Friday?

In 2017, I remember my best friend and I getting overly excited because our favourite site Missguided had 50% off everything, then 60% off everything and it actually rose to 70% off everything. Sounds amazing doesn’t it?

However, as regular shoppers at Missguided we could have sworn the original prizes of the items of clothing we wanted had gone up by a good £15. Ah, so that’s how they don’t lose out on that much money. You need to be wary of the original price of the item before it gets discounted because something that you thought was a major bargain may only turn out to be about 20% off.

Which? investigated prices for 94 products at the major retailers John Lewis, Amazon, PC World, Currys and Argos and found that 46% of the items researched were cheaper six months earlier in the year. Ouch.

Something else you need to be wary about is the mega deals that will follow Black Friday on 30th November 2020, Cyber Monday.

Cyber Monday was created to encourage people to shop online to give smaller businesses a chance to compete with larger chains. However, some items are cheaper on Cyber Monday than they are on Black Friday.

Due to the recent economic state, sales have been falling rapidly over the recent years in stores and honestly, they cannot afford to give out major discounts. Sites like Amazon and eBay, however, CAN afford to give out major discounts. In summary, experts advise to just wait for Cyber Monday.

So, is Black Friday a con? In short, yes. But this does actually depend. Here are a few ways you can make sure you’re getting a good deal this Black Friday from a regular bargain hunter such as myself:

1. Do your research beforehand. I do all my Christmas shopping on Black Friday so I have my eyes on the prizes way beforehand. I make sure prices have not inflated and that I shop/browse around before I make a final purchase.
2. Don’t fall for the “Must End Soon!” or the timer that the company have in on the front page of their website. Remember, there is always Cyber Monday and the chances are it will be cheaper anyway.
3. Use sites such as TopCashBack. Cash back sites will also do Black Friday deals EVEN on sale items. You could be saving just that bit extra.
4. Do not forget that Black Friday is mainly for electrical items. So if you’re moving house and need a new fridge, freezer etc. then you’re in for a treat. If you just want new clothes and shoes, then it probably is not so beneficial for you. That does not mean to say it won’t be discounted!

Despite all the negative information regarding Black Friday deals, I do think that it depends on the individual.

If you find an item that was £120 and it is being sold for £30, then yes that is a bargain. There are some good one-off finds out there that only the lucky ones find. But do not be fooled. These sorts of finds go on throughout the year, you just need to know where to look.