Black Friday Shopping
Black Friday has become a staple shopping day in the UK with retailers offering deals of up to 90% off!
This year Black Friday will take place on Friday 24th November and is set to be the busiest shopping day of the year.
Black Friday always falls the day after Thanksgiving in the USA and got its name because this was the time of year when many retailers profits for the year moved from in the red to in the black.
Black Friday only arrived in the UK in 2010 when Amazon introduced their Black Friday sales. Their first sale was so popular that all items sold out quickly and the traffic volumes crashed their website. Since then, Black Friday has become a shopping phenomenon.
For many retailers Black Friday is the biggest sales day and can contribute as much as 40% to their entire year’s revenue.
In years gone by, people would get excited for the January sales but now we can get these deals earlier and more importantly we can get them before Christmas but what is it that makes many of us spend on Black Friday? Often it is simply the fear of missing out. The deals we see as limited-time offers makes us what to participate. Does FOMO make us spend more – the simple answer is “yes”, we often buy things we wouldn’t have brought otherwise or things we do not need.
How should we prepare for Black Friday and stick to our budget?
- Make a list of the things we want to buy for ourselves and the price they are before Black Friday so you can see how good the Black Friday deal really is.
- Make a list of gifts you want to buy and what your budget is for each gift.
- Install our Shop&Give reminder tool to your desktop to ensure that every purchase you make generates a free donation.
- Start looking out for Black Friday discounts in the run up to the actual day. Some retailers start promoting their offers as early as the start of November.
- When looking at offers, compare the prices and discounts from different retailers and purchase if it is within your budget.
- If you see a good deal, go for it. Black Friday deals often have a limited number of items at that price so waiting can mean you miss out on a good price.
- Be cautious of the website you are shopping from. If you have never heard of them, do some research to make sure they are what they seem.
- Remember that the discount might be big but if the items is out of your budget, don’t buy it. It is very easy to get carried away when you see a great deal.