In the run up to Black Friday, Menzies retail expert, Martin Hamilton, highlights the value of this once a year retail phenomenon with his top tips for a successful spree.
With Black Friday soon to be among us (Fri 27 Nov for those not in the know), there are some areas I would like to highlight that may be of some interest…
Online sales have surged this year by circa 35% which, when compared to last year’s increase of circa 7%, signifies a significant increase in shopping from home/on the move. Whilst most of this increase is a direct result of Covid, it does now create a much more competitive marketplace for retailers and there could be some good deals available on Black Friday in order to beat off competitors. Therefore, it would be a good idea to do some comparisons before purchasing.
In the week leading up to and slightly beyond Black Friday itself, online sales are expected to surge to between 35% and 45% resulting in more customer competition than in previous years, therefore ensure you know what you are looking for and try and get it early to avoid disappointment.
Black Friday appears to have turned into Black November this year, with many bargains to be found online now. Therefore, it may be worth looking for some Christmas presents now, to avoid any delays in delivery times, based on the above increased activity.
Research the price history of the product to ensure you are making a saving and not actually paying more than the sale price was earlier in the year. Also look at the price and not the saving, to ensure the amount you are paying is reasonable.
Check if retailers will price match. If there is a reputable retailer that will price match, it may be a safer option to buy through them than a potentially lesser known or unknown retailer/website.
Be sure to research brands you have not heard of before. Just because the price is low should not automatically mean you are getting a good deal, as the quality of the goods may match that of the discounted price.
As always with anything online, an increase in activity means an increase in potential fraud and scams, so please be extra vigilant when finding deals from websites/retailers you may not have come across before. It may be worth a phone call to ensure authenticity before committing to buy.