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The Black Friday sales are already in full swing and it can be easy to get caught up in the shopping frenzy and find yourself out of pocket – instead of getting a great deal.
The vast majority of Black Friday deals are cheaper or the same price at other times of the year, consumer group Which? warned.
We spoke to experts who shared tips on how to shop Black Friday without getting scammed.
Make a list and stick to it
“It's only a deal if it's something you actually wanted or needed before getting the discount,” said Sarah Johnson, director at merchandise consultancy Flourish Retail.
She recommends making a list and a budget to stick to in order to avoid impulsive purchases.
“Make deals work for you by using Black Friday to save on products you were already planning to buy,” she said.
“If you stick to your list and stick to your budget, you'll maximize your savings without splurging unnecessarily.”
Compare historical prices
“When considering making a purchase, it's worth comparing prices across multiple retailers,” said Harry Rose, editor of the Which? Magazine.
He also recommended using websites that allow you to check a product's price history over the previous 12 months.
“That way you’ll know a lot when you see one,” he said.
Which? investigated deals on 227 products at eight of the UK's largest homeware and technology retailers during last year's Black Friday 'fortnight', between 20 November and 1 December.
Its research suggests that nine out of ten deals analyzed were the same price or cheaper at other times of the year.
Mr Rose said you shouldn't feel “pressured to spend money on Black Friday shopping, as these deals are usually repeated – or even beaten – at other times of the year”.
Second-hand search
Influencer Vivien Tang says it's easy to find new items on resale sites
If you spot something you want to buy during the Black Friday sales, look for it on a second-hand platform where you might find it even cheaper, says resale influencer Jess.
Many resale platforms offer you the possibility of offering a price adapted to your budget, she specifies.
“If you make an offer and it’s reasonable, most sellers will accept it,” she said. “So not only are you likely to get a good deal in the first place, because it's not new to a store, but you can also offer a lower price.”
Vintage clothing influencer Vivien Tang also buys and sells on resale sites.
“I think it’s very easy to find near-new or brand-new items on second-hand platforms,” she says. “The condition option on listings is now required, making it easier to filter for newer items.”
If you're taking advantage of Black Friday sales to buy Christmas gifts, you shouldn't rule out buying second-hand, according to a new report.
According to a survey conducted by consultancy Retail Economics for second-hand market Vinted, around 63% of people would be comfortable receiving second-hand Christmas gifts and 26% felt neutral towards this. idea.
Don't get into unaffordable debt
Many people use a credit card or may dip into their overdraft to buy what they consider to be cheap items on Black Friday.
But if you end up paying interest, that could outweigh any savings from the Black Friday sale.
Using a traditional credit card to make a £300 purchase and then repaying £20 a month would take more than a year and require paying £55 in interest, according to financial information service Moneyfacts.
Using an overdraft would usually result in an even bigger interest bill.
A credit card offers more protection on a purchase over £100, increasing the chance of being refunded if something goes wrong.
Financial experts say paying off a credit card immediately, perhaps from savings, before interest accrues, is the safest option.
Check for scams
Criminals are taking advantage of the hype around Black Friday to try to steal from online shoppers.
Purchase scams occur when someone is tricked into sending money via bank transfer to buy something – often advertised online or via social media – that doesn't exist.
The number of shopping scams jumped by 29% around Black Friday and Cyber Monday last year, according to analysis by Lloyds Bank.
Liz Ziegler, the bank's fraud prevention director, said: “When shopping online, the best way to stay safe is to buy from a trusted retailer and always pay by card for better protection. This should be a big red flag that you are about to get scammed.
You should be wary of fake websites and check that the web address belongs to the official brand before entering any financial or personal information, according to Which?.
Be wary of posts from newly created social media accounts or links to a newly created website. You can use verified domain checkers to confirm when a website was created. Which ? said.
He cautions against buying at prices that are “too good to be true,” because if something seems too good to be true, it probably is.
