Black Friday 2024 is upon us, with shoppers around the UK getting ready to make the most of the deals on offer. A whopping £13.3 billion was spent over the two-weeks shopping event last year, as prices were lowered at retailers.
For many, it’s a great chance to pick up Christmas presents for loved ones, or a special something they’ve been keeping an eye on. Black Friday reductions come out at an average of 29 per cent discount across all retailers, meaning there’s serious savings to be had.
But with so many discounts, reductions and deals to pick from, Black Friday can be an overwhelming and high-pressure experience.
To help you navigate the sales event, here’s some expert advice for shoppers this Black Friday:
Research products beforehand
Sometimes a Black Friday discount might seem too good to be true – and all-too-often that’s because it is.
Reseach from Which? shows that nine in ten Black Friday deals were misleading in 2023, with prices being cheaper or the same price at other times of the year.
Knowing how much a product has costed in the run-up to Black Friday is useful to know if you’re getting a genuine discount. Of course, this isn’t always easy and would require a lot of time and patience would be required.
Luckily, websites like PriceSpy, PriceRunner and CamelCamelCamel are doing the work for consumers. Their services allow users to see how much certain products have cost at different points in the past to make quick comparisons.
Harry Rose, Editor of Which? Magazine, said:"Year after year, our research finds that the majority of Black Friday deals are the same price or cheaper at other times of the year - making it tricky for shoppers to spot a genuine bargain among the dud deals.”
"There are definitely bargains to be had if you do a bit of research.”
Make a plan
Going in to Black Friday with a plan can be a wise strategy. Many retailers will allow you to create a wish list on their websites for products you want to come back to later.
This can be very handy to track the price of a product before and during the Black Friday sale period, to see how good the discount really is.
Which? says: “Having a pre-created list makes it easier to see when prices drop, which can be especially useful on Black Friday when websites can be flooded with deals on things you don’t want.”
“Rather than trawling through every product on sale, you can just click into your list to see whether anything you have your eye on is on offer.”
Set a spending limit
Black Friday is full of enticing offers coming from every direction. You might be getting more for your money, but it will all still add up.
Deciding what you want beforehand, how much you’re willing to pay for each product, and how much you want to spend overall is a good place to start.
Once you’ve set your spending limit, “stick to it” says the Octopus Money team.
“Black Friday deals can be tempting, but they’re only worth it if they fit into your overall financial plan. Avoid the trap of spending more than planned just because it’s a ‘good deal.’ A clear limit helps you stay in control and avoid post-purchase regret.”
Check for price matches
Some retailers offer price match promises, which means they will offer you a product for the same price as a competitor if they are selling it for cheaper.
Retailers such as AO, Currys, Euronics, Halfords, Hughes and John Lewis have price match promises. Hi-fi store Richer Sounds say they will even beat a price by £5 and £100, depending on the value.
“Even shops that don’t have price matching policies may agree to refund the difference if you challenge them about a price drop soon after you’ve bought something,” says Which?
Consider pre-loved
There is another way to get great deals products which last all year round. Shopping around for pre-owned products can be really worthwhile, and save some serious money.
This is a “great way to still get your hands on a coveted item, whilst also sticking with your plan,” says the Octopus Money team.
“More often than not you can find unused or undamaged items for a fraction of the price, which means you’ll be able to treat yourself AND invest your money at the same time.”
