Black Friday Is a Scam
This is not an article on how to avoid Black Friday scams (although there will be many , so be careful ). The point is that the whole event is an over-hyped, panic-inducing marketing blitz that we shouldn’t sign up to. ( Can you hear me, major retail? I don’t believe these LEGOs will only be $ 9 off for one day. I know better.)
Can I get discounts on Black Friday? Absolutely. Can you get the same or better deals on other days of the year? And are these discounts valid until Black Friday and apply to the second week of December? 100 percent. As Motley Fool points out, “While Black Friday may be known for offering the lowest prices of the year, it is actually one of the worst times to shop.”
But … but, you might think this 5 liter deep fryer is only $ 84.99 . That’s $ 30 off ! We fully understand the joy of getting a discount, but let’s see why getting up at dawn to nudge other shoppers (literally or figuratively) isn’t worth your time.
Few items on sale
How can retailers offer such amazing deals and still be profitable? By luring you into their grocery lair with in-demand items offered “on sale” (that is, some dollar amount below their regular price, but still much higher than their value). The problem is that there is a limited amount of this item for sale, and when they run out, you are still in that store or that website with an agonizing psychological need to check at least one gift on your list — to buy something . It’s good that there are thousands of other products on hand. (This is not something you planned, and is not greatly discounted, if at all.)
As Linda Sacraida, director of content marketing for DealNews told CNBC , “The reason Black Friday exists is to bring you really cheap, minimally low prices in the hopes that you will actually take advantage of these additional deals while you are there. … It is very important to be truly aware of this and try to avoid temptation. “
Remember, if you spend $ 60 to buy something at a sale that you don’t need, it’s not saving money, it’s a waste of $ 60 that might otherwise remain in your bank account for something else.
Selling items may be of lower quality
Did you know that retailers are partnering with manufacturers to create lower-quality versions of popular, well-known products (called “derivatives”) for the sole purpose of selling them on Black Friday? Well, they do it.
Motley Fool demonstrates this practice for high-end TVs – with Samsung’s 60-inch Ultra HD 4K TV “Best Price Exclusive”, which is only available at one retail store and has just hit the market. (This is a big red flag for a derivative product that is likely made from substandard parts, despite the brand name.) Walmart makes it even more difficult to determine what is on sale in advance by promoting TV sales without revealing brands or models.
Black Friday actually lasts three weeks
According to Deal News , “Most sales tend to start on Black Friday and continue from the weekend until the next week.” In other words, deals are sprawling. Unless you are obsessed with a particular limited edition, niche product that will only be available on that day , there is no need to wait for discounts in the icy line around the corner.
What used to be just Cyber Monday (the Monday after Thanksgiving) has now become Cyber Week. (Remember 2020 when we were all at home? That was tough for retailers too. We can expect them to go to great lengths to outperform their competitors by offering longer sales this holiday season.)
(Note: US news reports suggest better car deals are available in May, October and December in addition to November. Flat-screen TVs also have big discounts in the week leading up to Super Bowl . Looking for jewelry on sale? Valentine’s Day there fantastic deals, just like July .)
Can you save money on Black Friday? Yes. But the idea that we should hastily pile up discounted merchandise the day after Thanksgiving is absurd. There are still plenty of opportunities to save on gifts for the whole family, even after (or before) the last leftovers of the turkey have been eaten.