It’s Black Friday 2020 and once again there are scores of ‘bargains’ out there to be had. In a time of financial instability with many families struggling to make ends meet, is this really the time for excessive spending? When is a saving really a saving and are there any real deals?
According to data from PWC, ‘Before lockdowns in England and Wales, Black Friday spending was estimated to increase by 8% this year – from £7.8bn to £8.4bn – with interest remaining similar to last year, at 51%.’ Stats from Finder indicate that Brits plan to spend a whopping £6 billion on Black Friday and Cyber Monday sales in 2020.
Retailers claim that Black Friday provides customers with genuine opportunities to buy thousands of great value products. But according to reports from social watchdogs such as Which? it seems these deals may not be as they seem. Is this just not all about fantasy promotions, make believe deals, pie in the sky offers and fabricated prices? If many deals aren’t even money saving deals at all, why are we scouring the web in frenzied droves to pick up whatever we can?
Not that there is any real rush when you think about it as ‘Black Friday’ seems to have become ‘Black season of Friday’ so there are lots of offers already out there and there are further offers yet to come.
However, although many just won’t be able to resist the excitement of snapping up a potential bargain, here are 7 reasons why there’ll be no Black Friday spending for me.
- It’s just a month away from Christmas. This is an expensive enough time of year as it is without putting any further pressure on my already weary credit card.
- Many offers aren’t what they seem so in order to get the best ones; you should do your research in advance. This takes time but it’s time very well spent. Luckily there’s good news on that score this year as Which? has kindly done some hard work in finding the best deals so you don’t have to. Watch out also for Fake Black Friday deals where the bargains definitely aren’t what they seem.
- Some purchases will be outside the 28 returns policy window so if your purchases are Christmas presents then you’ll also have to check terms and conditions carefully before buying. Again this takes time.
- Black Friday is irresponsible; it potentially encourages people to spend beyond their means and buy things they don’t need at a price they still can’t really afford.
- You’re not saving money if you’re spending it unless it’s a purchase you’ve been intending to buy for some time, have budgeted it for it and then manage to get it for a lower price on Black Friday.
- If it’s worth waiting for until Black Friday, then whatever it is can also wait until January when life is a little less festively bonkers and you have a little more time to make those all important decisions.
- On any other year. we’d be battling the crowds in shopping centres but in lockdown times if you are looking for bargains in your local supermarket or essential shop instead then you could well find yourself in just as big a queue. Not my idea of fun especially if queuing is outside in delightful November weather.
Of course if you like to shop regardless of what time of year or month it is, lockdown or not, have lots of time to plan and research, don’t mind taking a chance on returns policies, like to think you’re saving even if you’re not, can’t wait to make a purchase and don’t mind queues, then a very Happy Black Friday Season to you all!