Black Friday is undoubtedly the biggest shopping day of the year with savvy shoppers making the most of widely discounted items. In 2019, Black Friday drew 84.2 million shoppers, and we expect this year to shoot the lights out as buyers seek unbeatable deals.
But, in order to bag the best deals, it pays to be prepared. And with so many deals from so many different retailers, it can be confusing to know how best to prepare for Black Friday. Payflex has you covered and are here to make sure you’ve got everything you need to make the most of Black Friday 2020, which takes place on Friday 27 November. We outline six tips to ensure you’re not only well prepared for Black Friday but get the best possible deals. Happy shopping!
Know what you can afford on Black Friday
All those discounts add up and before you know it, you may have spent thousands more than you should have. Creating a budget and sticking to it is therefore a golden rule when it comes to your Black Friday shopping strategy. While many of the deals will be hard to resist, especially because everything seems to have a big flashing SALE sign next to it, your bank account will be grateful you showed some restraint.
Have a game plan
Only rookies approach Black Friday unprepared. And half the fun is planning for it. The most successful shoppers start planning way before November even starts, so get going! Research prices now on the items you have your eye on. That way when the sales start, you can make sure you’re actually getting a discount. Remember, not all Black Friday deals are good ones.
Prioritize your must-haves
It can be so easy to get caught up in the hype. How many of us have bought random things we really didn’t need over the years? Make a list of your must-have items (especially big-ticket items you have been eying all year). We know how tempting it can be, but it is crucial you choose quality over quantity.
Compare, compare, compare
It can be so easy to get caught up in the excitement of Black Friday without taking the time to figure out whether you’re actually getting a good deal. Don’t assume an offer is worth it just because it claims to be significantly discounted. Different sites will likely have the same item for varying prices. Shop around to try to source the best deal.
Opt for payment flexibility
When using traditional payment options, you need to factor in that interest paid on an item can make it significantly more expensive. Look for flexible payment options that enable you to get what you want on the day (or in the days leading up) and pay later, without the interest and extra fees.
Make your money count
If you’re planning to splurge on some big-ticket purchases, make sure you get something in return. Many credit cards offer cash back, reward points and air miles. Make sure you do your homework and find out which stores offer points for the use of certain cards.
Avoid morning after regrets
We’ve all done it. Bought what we think is a complete bargain, only to realise the next morning that we really did not need that blender we impulsively bought in the middle of the night (Well at least, the Payflex team has done this). It is therefore important to read the fine print and ensure you understand the various return policies of different retailers.
Embrace social media
One of the best ways to prepare for Black Friday is to follow your favourite retailers on social media. Keep a close eye on Facebook, Instagram and Twitter for discount codes, exclusive offers and early-bird specials. Search the #BlackFriday hashtag on all platforms and scroll through your feed to see what is on offer.
There’s no doubt that Black Friday is one of the highlights of any shopaholics calendar. And by following a well-thought-out strategy and being prepared, you can get yourself some incredible deals. So, whether you prefer to shop online at home, or bravely venture into the shops, make sure you keep calm, get your game face on, and stick to your plan! You’ll thank us later!